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China’s Reduced Physical Gold Demand Cools Prices After May Peak


While gold reached a record high in May at $2,450 per ounce, it has since settled at $2,329 per ounce. According to the World Gold Council, China’s demand for gold fell in May to its lowest level in four years. Gold Prices Down from Record High, China Physical Consumption Slumps, Analyst...

New York Tightens Customer Service Regulations for Crypto Companies


The New York State Department of Financial Services (DFS) has introduced new guidance mandating regulated cryptocurrency entities to implement customer service policies and procedures. Crypto entities must collect data to ensure timely and fair resolution of issues, maintain records for regulatory...

Beba and Defi Education Fund Sue the SEC Over Its Airdrop Policies


Texas apparel company Beba and the Defi Education Fund (DEF) have announced a legal complaint against the U.S. SEC. They allege that the SEC has violated Administrative Procedure Act procedures by adopting an encompassing crypto policy without an official rulemaking process. Additionally,...

Impact of China’s economic policies on US Dollar and global liquidity


USD has always been considered the most reliable, safe, and stable currency of all time, and its role in global trade has made it the backbone of the global financial system. Besides, it has been the most widely used currency in foreign exchange transactions, international debt securities...

Nigeria’s Financial Watchdog Summons Binance CEO Over Crime Concerns


New Binance CEO Richard Teng must appear before Nigeria’s House of Representatives Committee on Financial Crimes to answer questions about his company’s lax KYC and AML policies, which may have played a part in terrorism financing and money laundering. Committee Chairman Ginger Onwusibe...

Cheap Energy Cost Fuels Chinese Bitcoin Miners Migration to Ethiopia


Ethiopia has become a lucrative destination for Bitcoin miners with lower energy costs and friendly government policies driving the move. According to Bloomberg, Bitcoin miners from China and other countries are setting up shop in the East African country followed by energy deals with electricity...

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