Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the U.S. dollar. The Ministry of Foreign Affairs now says it’s possible to partially replace the greenback in currency reserves and trade settlements with other currencies and even digital assets in the future. Foreign Ministry Official Sees Russia Acquiring…
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Accusing the U.S. of undermining the dollar through money printing and sanctions policy, President Vladimir Putin has admitted that cryptocurrency can be utilized for settlements in the future, although it’s too early to do that in oil trade. While noting that it lacks backing, the Russian leader assumed crypto could be used to store value…
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Rising jobless claims in the U.S. sparked selloffs in the dollar market. On the other hand, Bitcoin held onto its intraday gains. Bitcoin (BTC) looks to reclaim $45,000 on Oct. 1 as the U.S dollar retreated lower after hitting its one-year high. Bitcoin’s tight inverse correlation with the greenback over the past month suggests that…
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The adoption of bitcoin as legal tender in El Salvador has been one of the biggest events in the cryptocurrency world this year. However, Nayib Bukele, president of the country, has taken a course of action many consider mistaken. In any case, the Bitcoin Law has put Bitcoin in the global spotlight as a potential…
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The Salvadorian government has installed over 200 ATMs in September after adopting Bitcoin as a legal tender. El Salvador now hosts the third-largest network of crypto ATMs after the United States and Canada, amounting to 70% of all crypto ATMs in South America. According to data from Coin ATM Radar, El Salvador has exceeded United…
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In our latest video report, Cointelegraph addresses the systemic risk posed by stablecoins. In Cointelegraph’s latest video report, we discussed the systemic risks posed by stablecoins to the stability of both crypto and traditional markets. Stablecoins have become the backbone of the crypto ecosystem, as they play a crucial role in the functioning of crypto…
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Da Vinci’s artwork has received the highest bid at 150,500 BUSD in the Hermitage’s first NFT auction on Binance. Despite the Russian state maintaining a mostly unfriendly stance on cryptocurrencies like Bitcoin (BTC), a major state-backed museum is benefiting from the industry by raising hundreds of thousands of dollars with nonfungible tokens, or NFTs. The…
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What the United States needs is tens of billions of dollars, and the state is going to take it from the American crypto community. Not Legal Advice… is a monthly column from Zachary Kelman, Cointelegraph’s general counsel. He is a New York-licensed attorney specializing in political, legal and regulatory issues surrounding Bitcoin, digital currencies and…
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Bitcoin struggles to regain momentum despite the dollar falling to a seven-week low. The price of Bitcoin (BTC) was struggling to stay above $56,000 on April 20, which whale clusters pinpointed as a crucial short-term price level. Yet, the U.S. dollar index (DXY) has continued to fall in recent weeks, dropping to its lowest point…
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The latest spike in BTC transaction fees comes amid a major decline in the Bitcoin network hash rate. Bitcoin (BTC) transaction fees measured in United States dollars are near 2017 levels amid a massive hash rate drop on the Bitcoin network. According to data from several Bitcoin monitoring resources, the average BTC transaction fee in…
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