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Putin Warns of Increased Financial Crisis Risk — Says Russia Is Being Subjected to Hybrid War
7.7.2023
Russia’s President Vladimir Putin has warned of increased “risks of a new global economic and financial crisis against the backdrop of an uncontrolled debt accumulation by developed countries.” He added that Russia is “being subjected to a hybrid war, with illegitimate anti-Russian sanctions that...
Bolivia’s President Calls on South American Countries to Ditch US Dollar, Bolster Alliances With China and BRICS
6.7.2023
Bolivia’s President Luis Alberto Arce Catacora (Lucho Arce) has urged members and associated states of the Mercosur trade bloc to de-dollarize and establish stronger strategic alliances with international organizations, including the BRICS group. “We are experiencing a crucial moment...
Xi Jinping, Vladimir Putin Push for Increased Settlements in National Currencies
5.7.2023
Chinese President Xi Jinping and Russian President Vladimir Putin have pushed for the increased use of national currencies in mutual settlements as more countries shift away from the U.S. dollar. “I consider it essential to increase the share of settlements in national currencies”...
IMF Director: Iranians, Brazilians, Saudis Switching to Trade in Chinese Yuan as De-Dollarization Gains Momentum
28.6.2023
The International Monetary Fund’s (IMF) executive director for Russia says a growing number of countries are switching to trade in Chinese yuan, not only with China but also with third countries. He stressed that it is wrong for the U.S. dollar to be widely used globally given that the U.S....
North Korean Analyst Warns of Accelerating End to Dollar Dominance — Says BRICS Poses Challenge to US Hegemony
27.6.2023
A North Korean analyst has cautioned that the actions taken by the U.S. to restrict the usage of the dollar and the growing interest of countries to join the BRICS bloc are “accelerating” the decline of the USD as the world’s dominant currency. North Korean State Media...
Bitcoin sees new all-time highs in 3 countries as BTC price pokes $31K
25.6.2023
Bitcoin price strength across the board continues into a weekly close that analysis says should stay above $30,000
What is De-Dollarization? Exploring the Shift Away From the US Dollar’s Global Dominance
25.6.2023
From the latter half of 2022 and continuing into 2023, the concept of de-dollarization has gained significant traction, making its mark on the mainstream media. This surge in attention can be attributed to the concerted efforts of BRICS countries such as Brazil, China, and Russia, who...
US Treasury Secretary Defends Dollar Dominance as Emerging Markets Push to De-Dollarize
25.6.2023
U.S. Treasury Secretary Janet Yellen has defended the dominance of the U.S. dollar amid rising efforts by emerging countries to de-dollarize. Brazilian President Luiz Inácio Lula da Silva, in particular, is set to raise the issue of de-dollarization at the next BRICS meeting. “There is a very good...
Binance Ordered to Cease All Crypto Services in Belgium
24.6.2023
Crypto exchange Binance has been ordered by Belgium’s Financial Services and Markets Authority (FSMA) to cease providing any crypto exchange and custody wallet services in the country. The Belgian financial regulator stressed that it “takes the view that by offering such services...
Study: Crypto Adoption More Significant in Poorer African Countries
23.6.2023
While as much as 66% of surveyed African residents claimed to have been exposed to digital assets like bitcoin, about 82% of respondents said they have never owned crypto. The findings of the survey study suggest that the adoption of crypto is more significant in poorer African countries than...
IMF Economists Say Countries Should Address Crypto Demand Drivers Instead of Banning
23.6.2023
The International Monetary Fund’s (IMF) economists have cautioned that banning cryptocurrency “may not be effective in the long run.” Instead of outlawing crypto, they suggest countries should address “the drivers of crypto demand, including citizens’ unmet digital payment needs.”...
IMF Working on Platform to Support CBDC Cross-Border Interoperability
21.6.2023
The International Monetary Fund (IMF) is working to develop a platform that would serve as an interoperability layer for central bank digital currencies (CBDCs), allowing for settlements among different countries. According to statements from IMF Managing Director Kristalina Georgieva, this would...
Kenyan President Ruto Doubles Down on De-Dollarization Call — ‘We Just Want to Trade Much More Freely’
17.6.2023
Kenyan President William Ruto has repeated his call on African countries to consider ditching the U.S. dollar when settling cross-border trades. The Kenyan leader claimed that the African continent already has a mechanism that enables the seamless settling of transactions between traders. Further...
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....
Register Here for a Weekly News Update on Latin America
15.6.2023
Due to the unique traits it presents, Latin America has been a thriving region for cryptocurrency, as the technology aims to complement or even substitute traditional finance components that cannot be used in certain countries in the area. Marked by the vast differences between its countries...
Iran and Russia Talk Crypto Cooperation, Unveil Tool Streamlining Trade in National Currencies
12.6.2023
Experts and business representatives from Iran and Russia have discussed the potential uses of cryptocurrencies and blockchain. The two countries are also collaborating on implementing new financial instruments facilitating bilateral trade in their national fiats. Financial Expo Brings Together...
G-7 and G-20 Countries at Odds Over Stablecoin Regulation Amid Fears for Emerging Economies
8.6.2023
While global leaders are working towards establishing universal rules for the crypto sector, advanced and emerging economies are divided on the regulation of stablecoins.
The Group of Seven (G-7) economies, an international forum of seven of the world's advanced economies, are ostensibly more...
Economist Discusses BRICS Currency’s Prospect of Becoming Global Currency
7.6.2023
Economist Alexis Habiyaremye from the University of Johannesburg says that a proposed common BRICS currency, if used effectively and systematically for all trade transactions between BRICS nations, would “alleviate the burden on these countries to finance” the “disproportionate advantage that...
Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says
7.6.2023
A senior economist at financial services firm TD says the Chinese yuan, the euro, and digital currencies could erode the U.S. dollar’s dominance. “Several countries have shown frustration with the dominance of the dollar and are pursuing alternatives for conducting international trade...
The Rise of Cryptocurrencies in Arab Countries: Understanding Saudi Arabia's Latest Move
6.6.2023
With cryptocurrencies increasingly gaining a foothold across the Arab world, some industry analysts are examining how Saudi Arabia’s plan to join China’s New Development Bank, also known as the BRICS bank, could impact on diversifying the kingdom’s financial environment. ...
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