Search
Bangladesh Eyes BRICS Invite as Rumors Swirl of Formal Request
20.6.2023
In mid-May, several reports indicated that Bangladesh and India were engaging in currency trading using their respective currencies in order to address U.S. dollar liquidity challenges. Recent sources now reveal that Bangladesh is welcoming a formal invitation to join the BRICS bloc. Speaking...
Report: Zimbabwe’s Central Bank Set to Launch P2P Platform for Facilitating Gold-Backed Digital Currency Transactions
20.6.2023
The Reserve Bank of Zimbabwe has said it is getting close to launching a peer-to-peer platform which will facilitate digital gold token transactions. The central bank said the launch of the platform is expected to help reduce local demand for the greenback. Governor John Mangudya said the tokens...
Fear of a digital euro prompts Slovakia to add cash rule to constitution
19.6.2023
Slovakia’s parliament passed a measure to amend its constitution to codify the right of its citizens to pay for goods and services with cash
Crypto investment products experience outflows for 9th consecutive week
19.6.2023
Meanwhile, the altcoin price crash triggered inflows for XRP, Cardano and Polygon
JPMorgan Expects Dollar Dominance to Persist Even if China Overtakes US as World’s Largest Economy
19.6.2023
JPMorgan’s strategists have explained that even if China overtakes the U.S. as the world’s largest economy around 2030, the U.S. dollar may remain the world’s dominant currency for the rest of the 21st century. The global investment bank cited the historical experience of when...
Nigerian Currency Falls by More Than 30% After Central Bank Announced New Forex Market Rules
18.6.2023
The Nigerian currency’s official exchange rate versus the greenback recently plunged to NGN634 per dollar from just under NGN470 per dollar. The central bank’s decision to allow the naira to “float” came a few weeks after Nigerian president Bola Ahmed Tinubu pledged to end...
U.S. Banking Watchdog Makes Case for Tokenization, Just Not on Public Blockchains
16.6.2023
Self-styled crypto skeptic Michael Hsu, the acting head of the U.S. Office of the Comptroller of the Currency (OCC), said tokenization of assets is a serious advance into the future of finance, but decentralized blockchains may be too problematic to handle that movement
US Treasury Secretary: No Alternative Reserve Currency Can ‘Replicate’ Role Played by the Dollar
16.6.2023
United States Treasury Secretary Janet Yellen recently told members of the U.S. Congress that while some countries are seeking to create alternatives to the greenback, no country, including China, can create a currency which replicates the dollar’s role in the global financial system....
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...
EU’s Leaked Digital Euro Bill Outlaws Interest, Large Holdings, Programmability
15.6.2023
The central bank digital currency must be usable offline from day 1 to safeguard privacy, the draft law says
Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’
15.6.2023
An economist, who previously worked at the Bank for International Settlements (BIS), has provided insights on the possibility of a BRICS currency coexisting with the U.S. dollar. Noting that China is a major trading partner of all BRICS nations, he suggested: “Pegging to the renminbi...
Privacy should be considered in ‘potential retail CBDC’ — Treasury official
14.6.2023
U.S. Treasury official Graham Steele told an audience at a Texas payments conference that a future CBDC in America should consider anonymity
Crypto Lender Genesis Amends Reorganization Plan as Mediated Talks Continue
13.6.2023
The updated plan from mediated discussions with parent company DCG reflects “substantial agreement” on several key issues
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...
Prepare For Lift-off With Galactix Zone IEO on ProBit Global
12.6.2023
PRESS RELEASE. ProBit Global is launching the initial exchange offering (IEO) for the Galactix Zone Project platform’s native token, GXZ, which will be used as the in-game currency. Starting June 13, 2023, the token sale will enable investors to join an ecosystem that seeks to take its unique...
Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals
12.6.2023
People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote....
Economist Jim Rickards Predicts Unveiling of New BRICS Currency — Says ‘the World Is Unprepared for This Geopolitical Shock Wave’
11.6.2023
Jim Rickards, an economist and the author of “Currency Wars,” has predicted the unveiling of a new BRICS currency, stating that it “could weaken the role of the dollar in global payments and ultimately displace the U.S. dollar as the leading payment currency and reserve currency.” Emphasizing that...
Russian Banker Predicts End of Dollar Dominance as Global Power Shifts
11.6.2023
Russia’s second-largest bank’s chairman has predicted the end of U.S. dollar dominance. He believes that the Chinese yuan will replace the U.S. dollar as the dominant currency. “I think that the time has come when China will gradually remove currency restrictions,” he noted, adding that...
AI Chatbots Weigh In: Is Bitcoin Poised to Become a Global Reserve Currency?
10.6.2023
While some people believe that bitcoin (BTC) could become a global reserve asset, others are skeptical. Rather than relying on human subjective valuations and biases, we conducted an experiment to let artificial intelligence (AI) determine whether bitcoin could become a global reserve currency....
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...