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Latam Insights — Petro Liquidation Imminent, Ripple Partners With Colombian Central Bank
19.6.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, reports indicate that the Venezuelan government will liquidate the petro, Ripple partners with the Central Bank of Colombia, and Brazil issues...
Russia to Trial Digital Asset Settlements in Foreign Trade
17.6.2023
Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while such settlements will not be permitted inside...
Reports Indicate Venezuela Is Preparing to Liquidate the Petro
16.6.2023
According to reports, the government of Venezuela could be winding down the operations of the petro cryptocurrency. The decision comes after Sunacrip, the Venezuelan cryptocurrency watchdog, was set back by the alleged participation of its former head Joselit Ramirez in a potential $20 billion...
Egypt Applies for BRICS Membership, Seeks Trade in National Currencies
16.6.2023
Egypt has filed an application to join the BRICS bloc, Russia’s ambassador to the Arab nation confirmed. The government in Cairo is interested in using alternative currencies in foreign trade, either national fiats or a new common currency, the diplomat unveiled. Egypt Takes Step to Join BRICS...
Ripple partners with Colombia’s central bank to explore blockchain technology
15.6.2023
The pilot program will run through 2023 with the intent of demonstrating blockchain utility to the general public
Hong Kong govt pressures banking giants to accept crypto clients: Report
15.6.2023
Hong Kong’s central bank reportedly asked major banks including HSBC, Standard Chartered and Bank of China why they aren’t accepting crypto exchanges as clients
US senators propose bill to eliminate section 230 protection for AI companies
14.6.2023
The bipartisan bill purportedly seeks to hold companies accountable for harm, but it’s unclear whether section 230 even applies to AI
US lawmaker invokes SEC lawsuits in considering crypto regulatory framework
13.6.2023
According to Rep. Maxine Waters, granting crypto firms provisional registration under a proposed framework "could reward bad actors with a ‘get out of jail free’ card"
Majority of Americans Hesitant to Embrace Central Bank Digital Currency, Survey Finds
13.6.2023
A recent poll conducted by the Cato Institute and public opinion firm Yougov reveals that the majority of Americans are hesitant to adopt a central bank digital currency (CBDC). The findings indicate that support for a CBDC remains relatively low among survey respondents. U.S. CBDC Support Remains...
Honduras Applies to Join BRICS Bank
13.6.2023
The government of Honduras has formally applied to become part of the New Development Bank, known as the BRICS bank, in an official visit of Honduran President Xiomara Castro to Shanghai. Honduras is now another country that has requested entry into the financial organization, alongside Argentina....
UK to get ‘early or priority access’ to AI models from Google and OpenAI
12.6.2023
It’s unclear at this time what access the U.K. will receive, but the reported commitment could be the first of its kind
Is Ron DeSantis good for crypto? Republican makes Bitcoin part of campaign
12.6.2023
The governor of Florida wants to defend people’s right to “do Bitcoin.”
SEC can’t find Binance CEO Changpeng Zhao, asks court for ‘alternative service’
9.6.2023
The Binance CEO is rumored to be in Dubai, but with no known base of operations, the SEC wants permission to serve his lawyers on his behalf
US senators propose AI bills for transparency and innovation
9.6.2023
The bipartisan bills target government transparency when using AI and the formation of a new Office of Global Competition Analysis to stay on top of innovation
Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims
9.6.2023
Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposits. However, they reportedly dismissed claims that the moves were influenced by the Chinese government, stating that the rate cuts were market-driven. Chinese Banks Reduce Dollar Deposit Rates Major Chinese state-owned...
US DOJ opposes bankrupt Bittrex’s plan to repay customers ahead of credited fines
8.6.2023
Bittrex owes $29 million on penalties for sanctions violations and may still face penalties in a case brought by the SEC
Crypto Exchange Bittrex’s Customer-Repayment Plan Faces U.S. Government Objection
8.6.2023
If successful, it wouldn’t be the first time the state has scuppered a crypto bankruptcy proposal
UK Lawmakers Clash Over Government Plans to Regulate Crypto as Financial Services
8.6.2023
While some lawmakers have aligned with the government’s proposal, others want the volatile assets to be treated as gambling
Ron Paul Warns Fiscal Responsibility Act Will Erode US Dollar Value, Hasten Loss of Reserve Currency Status
8.6.2023
Former U.S. Representative Ron Paul has warned that the Fiscal Responsibility Act, recently signed into law by President Joe Biden, will escalate government spending, debt, and deficits. It will also erode the value of the U.S. dollar, “making it more likely that the U.S. dollar will lose...
The Bitcoin Rich List: An In-Depth Look at the Largest Bitcoin Wallets in Existence Since 2014
7.6.2023
Over the past decade, several bitcoin wallets have been named the largest in existence. However, since 2021, Binance has controlled the largest bitcoin address, which currently holds 248,597 BTC and is worth approximately $6.66 billion. Just over nine years ago, the largest wallet belonged to...