Day: April 29, 2023

Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts – Finance Bitcoin News

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A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro Accounts Expected to Drop Further, Requests for Yuan Deposits Surge in Russia Fewer Russians want to open local bank accounts in major Western currencies amid restrictions on what they can do with their money. Data from the Bank of Russia shows that about…

OpenAI’s ChatGPT re-enters Italy after obliging transparency demands

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Popular interactive artificial intelligence (AI) chatbot, ChatGPT, has been reallowed to provide services in Italy after addressing the privacy concerns raised by the region’s data protection agency, Garante. On March 31, OpenAI’s ChatGPT was placed on a temporary ban in Italy after a watchdog suspected the AI chatbot of violating the European Union’s General Data Protection Regulation (GDPR) requirement. Exactly 29 days after the ban, on April 29, OpenAI CEO Sam Altman announced that ChatGPT was “available in Italy again” without revealing the steps taken by the company to comply…

Argentina to Settle Chinese Imports in Yuan to Safeguard Dwindling Dollar Reserves – Economics Bitcoin News

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The economy minister of Argentina, Sergio Massa, announced that starting this month, payments for imports coming from China will be settled using the Chinese yuan. The agreement, which will allow the country to safeguard its dwindling dollar reserves, involves the disbursement of more than $1 billion in April. Argentina to Settle Bilateral Transactions With China in Chinese Yuan Argentina, one of the big three economies in Latin America, will use the Chinese yuan to pay for certain imports. According to statements from Argentine Economy Minister Sergio Massa, the country will…

Mastercard launches Web3 user verification solution to curb bad actors

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Global financial services giant Mastercard has launched a new Web3 solution aimed at enhancing user verification standards and “reducing the opportunities for bad actors” in the digital asset space. The solution is dubbed the “Mastercard Crypto Credential” and its launch was announced on April 29. In an accompanying explainer video shared to Twitter, the firm outlined that its “building a way for Web3 and blockchain service providers to help secure transactions between users, verified according to standards set by Mastercard.” At #Consensus23, we announced how we are instilling trust in…

Brazil Bans Telegram Temporarily Due to Alleged Lack of Collaboration in Fight Against School Violence – Regulation Bitcoin News

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A federal judge in Brazil has ordered the temporary suspension of Telegram in the country and established hefty fines due to the supposed lack of collaboration of the company in a national crusade against school violence. Telegram failed to deliver information regarding the actions it is taking against neo-Nazi groups, and now it has been blocked by most internet providers in Brazil. Brazil Blocks Access to Telegram Apps A federal judge ordered a nationwide ban on Telegram, the popular messaging app, on April 26, due to its perceived lack of…

Elon Musk introduces Twitter monetization avenues for content creators

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Adding to the growing list of radical implementations to improve Twitter’s bottom line and promote citizen journalism, Tesla CEO Elon Musk announced that creators on the social media platform can now monetize their content. Ever since Musk’s takeover of Twitter, the company has taken several drastic measures to turn itself into a profitable business, which include mass layoffs and introducing Twitter Blue subscriptions. While many previously-verified individuals retaliated the ask for a monthly fee to get a ‘Blue checkmark’ on Twitter, Musk saw it as a much-needed revenue stream for…

Congressman McHenry announces joint hearings to address market structure around digital assets

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Patrick McHenry, the Chairman of the House Financial Services Committee, has announced a series of joint hearings in May that will focus on addressing the market structure around digital assets in the U.S. The move was revealed via a joint announcement on April 27 from Congressman McHenry, Glenn Thompson, Chairman of the House Agriculture Committee, French Hill, Chairman of the Digital Assets, Financial Technology and Inclusion Subcommittee, and the Chairman of the Commodity Markets, Digital Assets, and Rural Development Subcommittee, Dusty Johnson. “Our Committees are embarking on an unprecedented joint…

US Policies Will Backfire, Russia to Expand Relations With Countries in Eurasia, Africa, Latin America – Economics Bitcoin News

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Russia’s president, Vladimir Putin, has slammed the actions of the elites in the U.S. and Europe, stating that they do not always act in the best interest of their own people. “It will backfire on them,” he said. Putin also called for a cohesive response to the West’s economic aggression, emphasizing that Russia will strengthen its partnerships with friendly nations and collaborate with foreign partners. Putin Plans to Expand Partnerships With Friendly Countries Russian President Vladimir Putin slammed policies in the U.S. and Europe while calling for a cohesive response…

Crypto Tax Guidance Could Come ‘in 12-ish Months,’ Says Internal Revenue Service’s Julie Foerster

CryptoX – Cryptocurrency Analysis and News Portal Foerster, who stressed her views are her own and not necessarily those of the IRS, said her five-person team was with her at Consensus, presumably moving through the convention center, talking to people about taxes and what the US agency can do better. Source The post Crypto Tax Guidance Could Come ‘in 12-ish Months,’ Says Internal Revenue Service’s Julie Foerster appeared first on CryptoX. CryptoX Portal

5 Consensus 2023 Takeaways – CryptoX

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