Tag: News

Ugandan High Court Rules to Uphold Central Bank’s Crypto Prohibition – Africa Bitcoin News

boss

A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition does not amount to an infringement on property rights. Cryptocurrency an ‘Undefined’ Payment System in Uganda The High Court in Uganda recently dismissed an application that sought to upend a central bank directive that bars cryptocurrency transactions. In his ruling, the court’s Justice Musa Ssekaana, insisted…

China Pushes Digital Yuan for Wage Payments in Changshu – News Bitcoin News

boss

Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the digital currency, which has been included in some limited programs before. Public Employees in Changshu to Receive Payments in Digital Yuan The city of Changshu, with a population of more than 1.5 million, will be the first city to use the digital yuan to pay wages of public employees,…

Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar – Africa Bitcoin News

boss

The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand for the U.S. dollar. Taming High Demand for the US Dollar The Zimbabwean central bank has said it will introduce a gold-backed digital currency that will be used both as an alternative medium of exchange and a store of value. According to a report in the Sunday Mail, this gold-backed version…

Indonesia Is Following BRICS De-Dollarization Lead, Says Central Bank Governor – Economics Bitcoin News

boss

Indonesia is following the BRICS’ lead in de-dollarization and shifting away from the U.S. dollar in trade settlements and financial transactions, according to the country’s central bank governor. The BRICS nations are working on creating a common currency to reduce their USD reliance. Indonesia’s De-Dollarization Efforts Bank of Indonesia Governor Perry Warjiyo said Friday that Jakarta is following the lead of the BRICS bloc to shift away from using the U.S. dollar in trade and financial transactions, Sindonews reported Friday. The BRICS nations (Brazil, Russia, India, China, and South Africa)…

Russia Launching Payment System With ‘No Restrictions’ — Digital Currencies to Be Completely Unrestricted – Regulation Bitcoin News

boss

Russia is launching a new payment system that is “bound by no restrictions” where digital currencies could be used in cross-border payments, said Russian Finance Minister Anton Siluanov. “Two parties come to an agreement, make settlement payments, and no other country could step in and freeze such payments,” the top official explained. Digital Currency ‘Bound by No Restrictions’ in Russia’s New Payment System Russian Finance Minister Anton Siluanov said Monday that a new payment system will be launched where the use of digital currencies in international payments will be completely…

Crypto Winter Is Over — Bitcoin Could Reach $100K Next Year – Markets and Prices Bitcoin News

boss

Standard Chartered says crypto winter has ended and the price of bitcoin could reach $100K per coin by the end of next year. The global bank’s analyst has identified several factors contributing to the surge in the price of the cryptocurrency, including the recent turmoil in the banking sector. Standard Chartered Bank on Bitcoin Hitting $100K Global bank Standard Chartered said Monday that “crypto winter” is over and the price of bitcoin could reach $100,000 by the end of 2024. Standard Chartered’s head of digital assets research, Geoff Kendrick, explained…

Bitget’s Native Token BGB to be Listed on Bitfinex, Driving Liquidity and Accessibility – Sponsored Bitcoin News

boss

sponsored Victoria, Seychelles, April 24, 2023 – Bitget, the largest crypto copy trading platform, announced that its native platform token BGB will be listed on Bitfinex, driving liquidity and accessibility while increasing its value and utility. The supported trading pair is BGB/USDT, and the trading service will be opened at Bitfinex. BGB is a utility token that plays a vital role in Bitget’s ecosystem, with a circulating supply of 1,400,000,000 BGB coins and a total supply of 2,000,000,000. It provides users with access to exclusive privileges and various rights on…

‘The World Is Clearly De-Dollarizing’ – Economics Bitcoin News

boss

Ron Paul, the former U.S. presidential candidate and former U.S. congressman, has stated that recent geopolitical events have caused nations to start ditching the U.S. dollar. Paul stated that the debasement of the currency, the manipulation of prices, and sanctions against other nations have made other countries afraid of holding dollars. Ron Paul Believes De-Dollarization Is Happening at a Rapid Pace Ron Paul, former U.S. presidential candidate and former U.S. congressional representative, has talked about how he believes de-dollarization is starting to accelerate recently, even if he does not know…

Binance Launches Ether-Based Liquid Staking Product WBETH to Rival Liquid Staking Competitors – Altcoins Bitcoin News

boss

In an announcement made on April 24, Binance, the cryptocurrency exchange with the largest trade volume, unveiled its latest staking product, wrapped beacon eth (WBETH). This new addition to Binance’s staking solutions is built on the Ethereum network, joining the ranks of other competing liquid staking products such as Lido, Coinbase, Rocket Pool, and Frax. WBETH Emerges as Binance’s New Solution to Ethereum-Based Staking Liquid staking products based on Ethereum have been gaining popularity over the past two years. According to defillama.com metrics, as of this writing, there are over…

South Korean Court Rules Terra Crypto Asset LUNC Is Not a Security – Bitcoin News

boss

Amidst the allegations against Do Kwon, the co-founder of Terraform Labs, a recent report by the Korean Sunday News has revealed that the Seoul Southern District Court has ruled in favor of LUNA, now renamed LUNC, by stating that it is not a financial investment product. Despite the recent enforcement action by the U.S. Securities and Exchange Commission (SEC) against Kwon, the South Korean court has determined that LUNC is not a security, further clarifying its position in the matter. Seoul Southern District Court Says LUNC Is Not a Security…