[Apr 28, 2023 4:00 PM] A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to…
[Apr 27, 2023 2:00 PM] The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese yuan rose to be the most-used currency in March over the U.S. dollar…
[Apr 27, 2023 3:30 AM] Fiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a…
[Apr 25, 2023 8:00 AM] Over two dozen nations have applied for BRICS membership ahead of its upcoming annual summit, the representative of the hosting nation revealed in an interview. The organization which unites leading emerging economies will discuss its enlargement…
[Apr 25, 2023 3:30 AM] 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…
[Apr 24, 2023 3:30 PM] 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…
[Apr 24, 2023 7:11 AM] China was one of the first nations to start working on its CBDCs. However, despite the completion of its development, the government is yet to officially launch the CBDC.
[Apr 23, 2023 2:44 AM] Civil servants including public service personnel, public institution personnel and personnel of state-owned units at all levels in the city will be compensated in digital RMB payment.
[Apr 22, 2023 9:44 PM] China and Singapore will collaborate “on concrete initiatives that will catalyze capital flows to support a credible and inclusive transition to a low carbon future for our countries and the region.”
[Apr 21, 2023 11:30 PM] Charles Nenner, a financial analyst that served as head of market timing for Goldman Sachs for more than a decade, has warned about the end of dollar hegemony and its consequences for the U.S. According to Nenner, the BRICS bloc and the influence…
[Apr 21, 2023 4:00 PM] When Bitcoin prices fell from $31,000 to below $29,000, the total value of BTC held by China fell by over $388 million to around $5,4 billion. China’s Bitcoin Stash Fell By $388 Million Bitcoin is trading below $28,500 and looks likely to edge…
[Apr 20, 2023 4:30 PM] Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that
[Apr 18, 2023 6:15 AM] Ethereum moved back above $2,100 on Tuesday, as markets reacted to the latest gross domestic product (GDP) report from China. Chinese GDP rose by 4.5% during the first quarter of the year, higher than the 4% expected. Bitcoin rebounded from earlier…
[Apr 17, 2023 5:01 AM] Chinese banks are opening bank accounts for regulated crypto companies, with several acting as a payment layer for the crypto platforms.
[Apr 17, 2023 4:00 AM] U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen, the government tries to use sanctions…
[Apr 17, 2023 2:00 AM] The government of China protested the enactment of sanctions on a series of national companies by the U.S., barring them from doing business with U.S.-based entities for allegedly collaborating with Russia. China’s Commerce Ministry criticized the…
[Apr 16, 2023 5:30 PM] Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence. “I think [it] is a huge challenge for the…
[Apr 14, 2023 7:30 PM] ZA Bank, Hong Kong’s biggest virtual-only lender, intends to expand its business into the region’s growing digital assets sector. The banking platform will offer crypto-to-fiat conversions and account services as the Chinese financial center is…
[Apr 14, 2023 5:30 PM] French president Emmanuel Macron has decided to double down on his strategic autonomy policy thesis, declaring that Europe should not be forced to side with Beijing or Washington on Taiwan. Macron declared that being a U.S. ally ‘does not…
[Apr 14, 2023 12:00 AM] A report from the research department of the Bank of Russia shows that, due to the structure of foreign trade contracts, it will be difficult to ditch the usage of the U.S. dollar to settle payments. The analysts found that contracts are often…
[Apr 13, 2023 11:30 AM] According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly…
[Apr 13, 2023 5:50 AM] Tech entrepreneur, angel investor, and author of The Network State, Balaji Srinivasan, says a proverbial “giant robot” of supportive governing bodies and crypto proponents is needed to do battle with the “giant monster” of…
[Apr 12, 2023 11:30 PM] Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto…
[Apr 12, 2023 2:12 AM] Metalpha has secured $20 million out of the planned $100 million for its new fund from overseas Chinese investors, the CEO said.
[Apr 11, 2023 4:00 PM] The annual inflation rate in China has unexpectedly slowed down in March to its lowest level in a year and a half, the latest statistical data indicates. On a monthly basis, consumer prices decreased for a second consecutive month, despite…
[Apr 11, 2023 5:21 AM] China intends to introduce a new security review mandate for all generative AI services before operation as new chatbots like ChatGPT continue to surface.
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