Tag: News

Zambian Currency Poised for First Quarterly Decline Since 2020 – Economics Bitcoin News

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The Zambian kwacha, one of the best-performing currencies in 2022, is now expected to see its first quarterly decline in nearly two years. The Zambian leader Hakainde Hichilema claimed that stalled debt restructuring negotiations are adding to pressure against the local currency. Zambia’s Debt Default After ending 2022 as one of Africa’s best-performing currencies, the Zambian kwacha depreciated from 18 units of the local currency for every dollar on Jan. 1, to slightly more than 21 units per dollar by March 31. In addition, a report by Bloomberg has said…

Enter the Reverse Repo Facility – Economics Bitcoin News

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The U.S. Federal Reserve could be competing with commercial banks due to a facility called the “overnight reverse repurchase agreement facility,” which has currently drawn in more than $2 trillion in deposits. According to analysts, this has affected bank deposits, as investors run to grab the higher yields it offers compared to traditional banks. The Federal Reserve ‘Reverse Repo’ Facility Is Affecting Banks’ Deposits, According to Analysts The recent banking crisis has made people worried about the security of the U.S. banking system, and while at a high level, some…

Alleged Kenyan Bill Proposes Widening Definition of Securities to Include Crypto Assets – Bitcoin News

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A bill seeking to put blockchain and crypto assets under the purview of the Kenyan Capital Markets Authority is supposedly set to be debated in the country’s parliament. The bill also seeks to “widen the meaning of ‘securities’ to capture digital currencies.” The persons that receive licenses from the regulator are also required to maintain records of all digital currency transactions and to pay taxes on any gains made. Bill Proposes to Widen Definition of Securities According to Amboko Julians, a Kenyan economist and blogger, the East African nation’s parliament…

Regulators Should Heed Crypto Risks When Innovating Regulation, Says Chinese Central Bank Official – Regulation Bitcoin News

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A senior People’s Bank of China (PBOC) official has urged regulators to consider cryptocurrency risks and fraud that could lead to bank failures when innovating regulation. The Chinese official highlighted the recent collapse of U.S. banks that provided services to crypto customers as an example. “The regulation philosophy, technology, and capability must be upgraded to ensure financial innovation won’t come at the cost of financial stability,” he stressed. Chinese Central Banker on Crypto Risks and Bank Failures Xuan Changneng, a deputy governor at the People’s Bank of China (PBOC), the…

ASEAN Countries Take Steps to Reduce Reliance on US Dollar for Trade Settlements – Economics Bitcoin News

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The finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) are exploring ways to decrease their countries’ dependence on the U.S. dollar and promote the use of local currencies in trade settlements. “We must remember the sanctions imposed by the US on Russia,” said Indonesian President Joko Widodo. ASEAN Countries Seek to Reduce Reliance on USD The finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) held a meeting on March 30-31 in Bali, Indonesia. One of the topics they…

‘It’s Always Longer Than Some Predictions’ – Economics Bitcoin News

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Ron Paul, a former U.S. representative and member of the Libertarian Party, has addressed recent events directed to undermine the influence of the U.S. dollar as a reserve currency in international markets. Paul believes that even if this does happen, it will probably take more time than some predictions are saying. Ron Paul Analyzes Fall of US Dollar Hegemony In the latest edition of his online webcast “The Ron Paul Liberty Report,” former United States representative Ron Paul analyzed the standing of the U.S. dollar as a reserve currency and…

Dfinity Foundation Launches Chain-Key Bitcoin, a Native Internet Computer BTC Derivative Token – Altcoins Bitcoin News

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On April 3, 2023, the Dfinity Foundation, a development team behind the Internet Computer (ICP) network, announced the launch of a native ICP token called “chain-key bitcoin” or “ckBTC.” The bitcoin derivative is backed 1:1 with the leading cryptocurrency asset. On Monday, Dfinity detailed that the technology “builds on the protocol-level integration with the Bitcoin network.” Breaking Away from Custodians and Bridges: The Benefits of Chain-Key Bitcoin’s Smart Contract-Based System On Twitter, the Dfinity Foundation announced the full release of chain-key bitcoin, also known as ckBTC. “Proposals 115468, 115470 &…

Bitquery’s New Streaming API is Changing Web3 Infrastructure Space – Sponsored Bitcoin News

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sponsored Bitquery launched its Streaming API in early March, giving users to access blockchain data in real time. With Bitquery’s APIs, Web3 builders have had access to extensive data from over 40+ blockchain networks. As the demand for blockchain data continues to grow, Bitquery has been at the forefront of providing reliable and comprehensive data to its users. The Streaming API is the latest addition to Bitquery’s suite of APIs, offering a fast and efficient way to access real-time blockchain data. With a free developer account, you can easily create…

Pancakeswap Launches Version 3 of Protocol on BNB and Ethereum Blockchains – Defi Bitcoin News

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On Monday, April 3, the decentralized exchange (dex) platform Pancakeswap launched version 3 of its protocol (v3) on the Binance Coin (bnb) and Ethereum blockchains. The new application aims to improve the performance of the dex protocol and reduce fees by implementing four levels of trading fees. New Features and Improved Capital Efficiency Offered in Pancakeswap Version 3 On Monday, Pancakeswap launched version three of its protocol on the Ethereum and Binance Coin (BNB) blockchains, following an announcement in the first week of March. “It’s Pancakeswap v3 Day. Tell us…