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Gold-Backed Digital Tokens Now an Approved Payment Method Says Zimbabwean Central Bank
9.10.2023
Zimbabwean residents and institutions can now pay or settle domestic transactions using the recently launched gold-backed digital tokens, the central bank has said. Bank governor John Mangudya said the central bank has enlisted the services of external auditors to “validate the availability...
OFAC’s Sanction Bucket Grows: BTC, TRX, and ETH Addresses Flagged Over Fentanyl Ties
6.10.2023
The Office of Foreign Asset Control (OFAC) under the Treasury has released an updated version of the specially designated nationals (SDN) list, featuring multiple alleged fentanyl traffickers from China along with their associated cryptocurrency addresses. These highlighted crypto addresses...
China Allows Visitors to Top Up Digital Yuan Wallets with Visa, Mastercard, Cash
28.9.2023
Trying to make the digital yuan more attractive for foreigners, China has added a “recharge before use” feature to its digital currency system. The upgrade will allow visitors from abroad to replenish a digital yuan wallet through the global payment networks Visa and Mastercard among other methods....
Tanzanian Central Bank Launches Foreign Exchange Reserves Boosting Gold Buying Scheme
27.9.2023
The Bank of Tanzania said on Sept. 25 that it has kickstarted an initiative that seeks to boost the country’s foreign exchange reserves by buying gold with local currency. The bank said its objective is to acquire six tonnes of gold from miners and traders in 2023 alone. The Tanzanian Gold...
Taiwan Implements Stricter Regulations, Bans Unregistered Foreign Crypto Exchanges from Operating
27.9.2023
Today, on September 26, Taiwan's financial regulator, the Financial Supervisory Commission (FSC), unveiled new guidelines for Virtual Asset Service Providers (VASPs) aimed at enhancing the protection of cryptocurrency users in the country.
In March, the FSC confirmed its position to closely...
Treasury Sanctions Ethereum Wallet Used by Sinaloa Cartel to Launder Fentanyl Financing
26.9.2023
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned an Ethereum wallet used by the Sinaloa Cartel to launder money from fentanyl sales in the U.S. Mario Alberto Jimenez Castro, an accused money launderer for the cartel’s Los Chapitos faction, allegedly...
Taiwan bans unregistered foreign crypto exchanges from operating
26.9.2023
Apart from local exchanges like Maicoin, major global crypto trading firms like Binance, ByBit and Kraken have also been serving customers in Taiwan
Foreign Travelers Can Now Use China’s Digital Yuan App
25.9.2023
Visitors to China can now buy digital yuan tokens with overseas cards via the central bank’s official CBDC mobile app.
Per the China Business News, via Yicai, the bank has updated its app to allow visitors to China “to download the digital yuan app from app marketplaces.”
The platform has been...
70% of South Korean Reported Foreign Assets Are Crypto- Here’s More
20.9.2023
South Korea’s crypto adoption grows as authorities disclosed that 70% of the nation’s reported overseas assets are cryptocurrencies.
On Sept 20, The country’s National Tax Service (NTS) in an official release stated that 5,419 business and individuals reported their financial accounts with...
Criminals more reliant on cross-chain bridges than ever after mixer crackdowns
20.9.2023
The sanction of cryptocurrency mixer Tornado Cash in August caused the first major shift, but that is now accelerating even faster than projected
Thailand to Tax Overseas Earnings From Crypto Traders – Will it Impact Foreign Investment?
19.9.2023
Thailand would soon tax foreign earnings from crypto traders, a tighter measure to close the loophole, which allowed overseas income into the country tax-free.
The rule came from Thailand’s Revenue Department, which aims to fund its proposed economic stimulus, according to a BangkokPost report....
Taiwan to restrict unregistered, non-compliant foreign crypto exchanges
7.9.2023
Taiwan's crypto watchdog has drafted ten guiding principles for virtual asset service providers operating in the country
Top BRICS Diplomats Approached Indonesia With Proposal to Join, Foreign Minister Says
2.9.2023
The foreign ministers of the BRICS states have reached out to invite Indonesia to become a member of the group, their Indonesian counterpart unveiled. The government in Jakarta is still weighing the benefits of joining the organization and is yet to decide whether to apply formally. BRICS Nations...
Dollar Share in Reserves Drops Below 60%, Yuan Rises, Russian Diplomat Says
2.9.2023
The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in foreign trade settlements, the official noted. Russia...
Binance Removes Sanctioned Russian Banks From P2P Platform
28.8.2023
Crypto exchange Binance has dropped Russian banks under sanctions from the payment options on its peer-to-peer (P2P) platform. Russian traders can no longer use cards issued by these banks to make payments while transactions in foreign fiat currencies are also restricted for them. Binance No Longer...
Russian Foreign Minister Sergey Lavrov: BRICS Is Focused on Reducing Dependence on US-Controlled System
26.8.2023
Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused on reducing dependency on the economic system managed by the U.S. and its Western allies. He denied a possible unified currency for...
Brazil Proposes Plan to Settle Bilateral Trade With Argentina in Chinese Yuan
26.8.2023
The government of Brazil has formally presented a proposal to Argentina to settle bilateral trade transactions in the Chinese yuan. The proposal, which would leverage resources in the Chinese credit swap line, aims to maintain trade between the countries and secure the payment of Brazilian...
Israeli Police Accuse Crypto Businessman Moshe Hogeg of $290 Million Fraud
25.8.2023
Following a two-year long investigation, police have alleged that Israeli tech entrepreneur Moshe Hogeg defrauded investors of $290 million. Hogeg and several of his partners are accused of spending the money they collected from Israeli and foreign investors for crypto ventures to lead...
Tornado Cash indictment fails to show 'clear violation' of certain laws: Coin Center
24.8.2023
Coin Center research director Peter Van Valkenburgh argued that crypto mixer Tornado Cash is an anonymizing software provider, not a money transmitter
BRICS Not Focusing on Creating Common Currency, Indian Official Says
22.8.2023
A top Indian official has downplayed the creation of a shared BRICS currency. Emphasizing that “common currency discussions have several prerequisites before you can even talk about a common currency framework,” the official stressed that the BRICS nations have focused on boosting settlements...