Tag: News

Russian Law Enforcement Prepares to Seize Crypto Assets, Seeks Permission to Set Up Wallets – Bitcoin News

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Russian investigators are pressing the parliament and government in Moscow for permission to open their own cryptocurrency wallets. This would allow law enforcement agencies to seize digital assets during criminal cases and eventually sell them, something that authorities in the United States and Europe already do. Russian Prosecutors Lobby for Powers to Confiscate and Auction Cryptocurrencies The Prosecutor General’s Office of the Russian Federation is proposing to allow investigative bodies to set up crypto accounts and wallets under their control for storing seized digital coins that can later be sold…

Economist Jim Rickards Says US Dollar’s Greatest Enemy as Reserve Currency Is the Treasury – Economics Bitcoin News

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Jim Rickards, an economist and the author of “Currency Wars,” says the U.S. Treasury is actually the biggest threat to the U.S. dollar’s status as a reserve currency. However, he cautioned that an increasing number of countries seeking alternatives to the dollar as a payment currency is also “a big deal,” emphasizing: “The dollar is being attacked from all sides.” Jim Rickards on U.S. Dollar Losing Reserve Currency Status Economist and “Currency Wars” author Jim Rickards has warned that despite China and other nations intensifying their efforts to reduce their…

US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’ – Economics Bitcoin News

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The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a Tesla executive and owner of Twitter, recently commented on trillions of dollars being withdrawn from banks into money market funds, and he insists that the “trend will accelerate.” Statistics Still Show Glaring Signs of U.S. Bank Weaknesses; Musk Issues Warning…

‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network – Bitcoin News

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The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward eliminating any form of payment, including cash.” Fednow Won’t Replace Cash, the U.S. Central Bank Insists When the U.S. Federal Reserve announced the launch of the Fednow service in July, it sparked immediate opposition and led many to believe it is…

Saudi Arabia, BRICS; Ron Paul Weighs in on Potential Fall of Dollar as Reserve — Week in Review – The Weekly Bitcoin News

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The United States dollar has been a hot topic in recent weeks, with multiple reported developments occurring globally which could signal significant moves toward de-dollarization in large economies. Former U.S. congressman Ron Paul also noted this week that if the USD’s influence as a reserve currency is undermined, it might happen later than some expect. All this and more, just below, in the latest Bitcoin.com News Week in Review. US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States After Saudi Arabia and…

Russia Takes Second Place Rank by Power Capacity in Crypto Mining, Reports – Mining Bitcoin News

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Russia is now ranking second in terms of energy capacities engaged in the extraction of cryptocurrencies, new data suggests. Despite persisting regulatory uncertainty and the negative effects of sanctions, the amount of power devoted to the sector has been growing, reaching record highs this year. 1 GW of Electrical Power Involved in Crypto Mining in Russia During Q1 of 2023 Russia has for the first time climbed to second place in the world in terms of total power capacity of the facilities devoted to the production of digital currencies. According…

CBDC the ‘Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act’ – Featured Bitcoin News

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A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said the U.S. Congress “should explicitly prohibit” its issuance. CBDCs a Threat to Financial Privacy A policy analysis document released on April 4 by the CATO Institute warns that a central bank digital currency could be…

NFT Marketplace Looksrare Launches Version 2, Cutting Protocol Fees by 75% and Introducing Bulk Purchases – Bitcoin News

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Looksrare, the non-fungible token (NFT) marketplace, has launched version two, also known as v2, which reduces protocol fees by 75%. According to statistics from Dune Analytics, Looksrare was the tenth-largest NFT marketplace in terms of trader count during the past week. NFT Market Protocol Looksrare Launches v2 NFT marketplace Looksrare announced the launch of version two (v2) on April 6, 2023. One of the significant changes is the reduction of Looksrare’s fees by 75% with v2. “Looksrare’s protocol fee is now a fixed 0.5%, down from 2%,” the team noted…

Crypto Exchanges Must Share User Data With Russia, Prosecutor General Demands – Exchanges Bitcoin News

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Digital asset exchanges must be obliged to provide user information to Russia’s law enforcement agencies, the country’s Prosecutor General has insisted. The circulation of cryptocurrencies in the Russian Federation needs to be regulated to counter money laundering, the official added. Cryptocurrency Exchanges Have to Report to Russian Authorities, Chief Prosecutor Says Crypto service providers should be required to register in Russia and exchanges obliged to share information about their users with Russian security services, according to the head of the nation’s Prosecutor General’s Office, Igor Krasnov. He also believes that…

Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ — Warns USD’s Reserve Currency Status in Jeopardy – Economics Bitcoin News

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Economist Peter Schiff has urged people to get rid of their U.S. dollars now as a growing number of countries have escalated their efforts to reduce their dependence on the U.S. and the USD. “The dollar’s reserve currency status is in jeopardy, as is the American standard of living that depends on it. The best move you can make to mitigate your personal loss is to divest of dollars and dollar-denominated financial assets,” he stressed. Get Rid of U.S. Dollars Now, Says Peter Schiff Gold bug and economist Peter Schiff…