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Philippines to Develop Blockchainless Wholesale CBDC in Two Years


The Central Bank of the Philippines will develop a central bank digital currency (CBDC) in the next two years, according to Governor Eli Remolona Jr. The still unnamed CBDC will focus on the wholesale market and won’t use blockchain tech, instead relying on the Philippine Payment...

Argentine President Javier Milei Rules out Dollarization Process in 2024


Javier Milei, the libertarian president of Argentina, has ruled out the possibility of applying his dollarization plan during 2024. In an interview with local media, Milei stated that while dollarization and the free convertibility of coins was the final goal of his administration, there was...

Fed Chair Powell Says US Government Is on ‘Unsustainable’ Fiscal Path


Federal Reserve Chairman Jerome Powell says in the long run, the U.S. federal government is on an unsustainable fiscal path due to its ballooning debt growing faster than the economy. Moreover, the Fed chair cautioned that there will be some banks that have to be closed or merged out of existence....

OFAC Blocks Venezuelan Gold Business, Warns About Upcoming Oil Sanctions


The Office of Foreign Assets Control (OFAC) has revoked the license of Minerven, the Venezuela-owned gold company, for commercializing gold in international markets. The sanctions on Minerven, which were eased in October, will be applied again on February 13, with oil and gas sanctions reported...

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