fiat currency – Page 2

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

April 6, 2023

The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report warns that defi could threaten national security and calls for policymakers to increase oversight.…
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China Ready to Talk Asian Monetary Fund to Cut Dollar Dependence, Malaysia Says

April 5, 2023

An idea to establish an Asian Monetary Fund has caught the attention of the Chinese leadership, the head of the Malaysian government revealed. The prime minister believes there is no reason for his country, which is hurting from a strong U.S. dollar, to remain dependent on the greenback. Malaysia Prepares to Trade With China in…
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FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers

April 1, 2023

FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu, for users to withdraw funds from the now-defunct cryptocurrency platform. Withdrawal requests must be submitted through the new website and will be “subject to customary know-your-customer and anti-money-laundering checks.” FTX’s European Arm Opens Withdrawals to Customers According to a press release published on Friday,…
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Report: Elon Musk’s Payments Vision for Twitter Takes Shape, Small Team Tasked to Build Infrastructure

January 31, 2023

Seven months ago, current Twitter owner Elon Musk said, prior to acquiring the social media giant, he would integrate cryptocurrency payments. According to sources, a team is working on the infrastructure for a payment platform, and Twitter is proceeding with regulatory approvals and registrations. Elon Musk’s Plan for Twitter Payment System Advances, Adding Cryptocurrency Later…
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Argentine Digital Peso Proposal: Eliminate Tax Evasion by Digitizing the Full Fiat Currency Supply

November 7, 2022

A proposal to eliminate the physical representation of the Argentine Peso, in order to streamline specific state processes and reduce tax evasion, has been presented by former banker Carlos Maria De Los Santos. The plan, identified as “Argentine Digital Peso,” also predicts that its implementation would lead to lower taxes and bring a surplus to…
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Bank of England to Double Long-Dated Gilt Buy-Backs, QE Policy to See an ‘Orderly End’ in Mid-October

October 10, 2022

After the British pound sterling tapped an all-time low against the U.S. dollar on September 26, the Bank of England (BOE) said it would halt its monetary tightening policy and start buying long-dated bonds again. Approximately two weeks later, the BOE detailed on Monday that it was doubling the size of its debt buy-backs by…
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Bank of England Suspends Tightening Policy as Pound Nosedives — Central Bank to Start Purchasing Long-Dated UK Government Bonds

September 28, 2022

Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets. U.K. government bond yields have been erratic and the pound sterling also dropped to a lifetime low against the greenback. On Wednesday,…
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Bank of Japan Intervenes in Foreign Exchange Markets After Yen Slips to 24-Year Low

September 22, 2022

While the greenback has been rising higher, the Japanese yen tapped a 24-year low and Japan decided to intervene in foreign exchange markets (forex) for the first time since 1998. Reports say the Bank of Japan conducted the first forex intervention in 24 years, after the Japanese central bank kept its benchmark bank rate suppressed…
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Bank of Russia Eases Restrictions on Purchases of Dollar and Euro Cash

August 28, 2022

The Central Bank of Russia has relaxed some limitations for Russian banks selling U.S. dollars and euros to the public. The increased supply of foreign cash may affect the crypto market in the country as currency restrictions have been a driver of increased demand for digital coins. Monetary Authority of Russia Expands Citizens’ Access to…
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Report Claims Russia and Iran Plan to Establish a Global Gas Cartel, Moscow to Launch Its Own Precious Metals Exchange

August 26, 2022

Following Russian president Vladimir Putin’s statements at the end of June that indicated members of the BRICS nations have formalized plans to create a new “international reserve currency,” Russia is reportedly building the foundations of a global gas cartel with Iran. Financial journalist and best-selling author Simon Watkins claims the “alliance aims to control as…
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Category: fiat currency