Tag: News

Hong Kong to Have Tight Crypto Regulations, Head of Monetary Authority Says – Regulation Bitcoin News

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Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms. Crypto Hub Hong Kong Has No Intentions to Adopt ‘Light-Touch’ Regulations Hong Kong’s central banking institution has made it clear that crypto companies enticed by the city’s attempt to establish itself as a hotspot for digital-asset business will not operate under very lax regulations. In an interview…

Activist Lawyer Accuses IMF and World Bank of ‘Economic Sabotage’ to Promote US Dollar, Urges Nigeria to Join BRICS – Africa Bitcoin News

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Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping to perpetuate “the dominance of the United States dollar in Nigeria.” Nigerian Federal Government Accused of Dollarizing the Economy The International Monetary Fund and the World Bank are conniving with the Central Bank of Nigeria (CBN) to sabotage the country’s currency swap arrangements, Nigerian human rights…

Lawmaker Warns US Default Risks Dollar’s Reserve Currency Status, Exploitation by China and Russia – Economics Bitcoin News

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The top Democrat on the House Intelligence Committee has warned that China and Russia would seek to exploit the chaos resulting from a U.S. default. He further cautioned that the U.S. dollar’s reserve currency status could be eroded if the U.S. defaults on its debt obligations. U.S. Lawmaker’s Debt Default Warning Congressman Jim Himes (D-CT), the ranking Democrat on the House Intelligence Committee, warned Sunday during an appearance on CNN’s “State of the Union” about the risks of the U.S. defaulting on its debt obligations. The lawmaker was asked whether…

Dave Ramsey Dismisses De-Dollarization Concerns — Says BRICS Currency, Chinese Yuan Can’t Take Down US Dollar – Economics Bitcoin News

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Personal finance expert and best-selling author Dave Ramsey has dismissed de-dollarization concerns and the prospects of a BRICS currency, the Chinese yuan, or the Russian ruble displacing the U.S. dollar in international trade. “They don’t have the muscle to take down the dollar,” he stressed. Dave Ramsey on De-Dollarization and Challenges From Alternative Currencies Personal finance guru and Ramsey Solutions CEO Dave Ramsey answered a question about de-dollarization in an episode of “The Dave Ramsey Show,” aired last week. Ramsey is an eight-time national best-selling author who sold more than…

President Raisi Calls on Central Bank of Iran to Ditch US Dollar in Trade, Shift to National Currencies – Bitcoin News

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Iranian president Ebrahim Raisi has called on the Central Bank of Iran to lay the groundwork necessary to ditch the U.S. dollar for bilateral trade settlements and to make the switch to use the Iranian real whenever possible. The Central Bank of Iran has already started implementing this policy, proposing to pay bilateral trades using Iranian reals in a recent high-level reunion with Oman’s minister of commerce. Raisi Calls on Central Bank of Iran to Ditch Dollar Iranian President Ebrahim Raisi has called for a policy shift when it comes…

Worldcoin Launches World App to Bolster Decentralized Identity and Finance for Mass Adoption – Bitcoin News

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Worldcoin, the project supported by Openai CEO Sam Altman, has launched the World App to complement the release of World ID. The application aims to democratize decentralized identities and finance by utilizing World ID to enable users to sign into different websites, crypto applications, and share personal data in a privacy-focused manner. Worldcoin Unveils World App The Worldcoin project made an announcement on May 8, 2023, revealing the launch of their new World App. The application dubbed the “minimalist wallet” is designed to bring “decentralized identity and finance” to the…

Meme Token PEPE Plunges Below $1 Billion Mark Amidst Market Decline – Market Updates Bitcoin News

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The recently launched meme token, inspired by Pepe the Frog and dubbed PEPE, experienced a 12% decline against the U.S. dollar on Tuesday, plummeting its market valuation beneath the $1 billion threshold to a present $790 million. Concurrently, the total meme coin sector faced a 7% loss against the dollar, with the top six prominent meme tokens enduring losses within 24 hours. PEPE‘s Meteoric Rise Hits a Roadblock with 12% Decline Numerous investors reaped significant rewards from the surging PEPE meme token market; however, its worth has diminished from its…

Scaling Challenges Trigger Intense Debate as Mempool Overflows – Bitcoin News

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This week, the Bitcoin community has been abuzz with discussions about the network’s scaling challenges. As the blockchain’s transfer fees continue to surge, the backlog of transactions stuck in the mempool has hit an unprecedented high. Crypto enthusiasts have been sharing their diverse perspectives on the matter, leading to a flurry of takes across various social media platforms. Bitcoin’s Scaling Challenges Spark Controversy and Diverse Perspectives The recent surge in Ordinals and BRC20 token usage has led to a significant increase in onchain activity, causing the mempool to overflow with…

FTX Founder Bankman-Fried Seeks Dismissal of Charges Filed After Extradition – Exchanges Bitcoin News

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Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s Sam Bankman-Fried Urges Court to Drop Post-Extradition Charges Attorneys representing Sam Bankman-Fried (SBF), co-founder and ex-chief executive of the failed cryptocurrency exchange FTX, have filed a series of motions in Manhattan federal court on Monday, requesting the dismissal of a number of criminal charges against…

Experts Say Nigeria’s Blockchain Adoption Strategy Likely to Add Clarity and Legitimacy to Ecosystem – Blockchain Bitcoin News

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The recent approval of a blockchain adoption strategy by the Nigerian government has been described as a milestone that will “add clarity, trust and confidence in the [blockchain] ecosystem.” The unveiling of the adoption strategy document has also been hailed as a step that will lend “some form of legitimacy” to a technology that many Nigerians still only associate with cryptocurrency. Central Bank Expected to Eventually Change Its Position on Crypto The Nigerian government’s recent approval of a blockchain adoption strategy has been hailed by advocates of the technology as…