A study by Henley & Partners, an investment migration consultancy in London, reveals an interesting insight: of the world’s 56.1 million millionaires, a notable 88,200 have earned their fortunes in cryptocurrency.
Crypto’s Elite: How Bitcoin and Cryptocurrency Carved Out a New Generation of Millionaires and Billionaires
At the time of writing, the crypto…
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The accession of new members will allow BRICS to push the West to accept changes in international relations, an expert from UAE has been quoted as stating. That’s valid in particular for cross-border trade and de-dollarization, said Mohamed El Yattioui, professor at the American University in the Emirates. BRICS Bloc to Benefit From Inducting New…
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Russian president Vladimir Putin and South African president Cyril Ramaphosa recently addressed cooperation, trade, and preparations for the upcoming BRICS summit. The two leaders conversed about practical cooperation and the expansion of the organization, reflecting a shared commitment to international engagement. While Putin won’t be attending the conference in person, he will be represented via…
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President Vladimir Putin has signed into law a bill on the introduction of the digital ruble in the Russian Federation. The new legislation, which legalizes and regulates the use of Bank of Russia’s digital currency for payments and other transactions, will enter into force on Aug. 1. President Putin Greenlights Law Introducing Digital Ruble as…
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In a compelling turn of events this Saturday, India and the United Arab Emirates (UAE) inked a landmark agreement facilitating trade transactions to be settled in their native currencies, rupees and dirhams, instead of relying on the U.S. dollar. India’s prime minister Narendra Modi visited the UAE, where the countries announced the linking of the…
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Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual turnover between the two neighboring nations exceeds $10 billion with millions of pilgrims and health tourists crossing the border each year. Iran and Iraq Can Reduce Dollar Dominance by…
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Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while such settlements will not be permitted inside Russia. Russian Government Backs Initiative to Test Digital Assets in Payments Abroad The…
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Egypt has filed an application to join the BRICS bloc, Russia’s ambassador to the Arab nation confirmed. The government in Cairo is interested in using alternative currencies in foreign trade, either national fiats or a new common currency, the diplomat unveiled. Egypt Takes Step to Join BRICS Club, Russia Backs Bid Egypt has applied to…
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Experts and business representatives from Iran and Russia have discussed the potential uses of cryptocurrencies and blockchain. The two countries are also collaborating on implementing new financial instruments facilitating bilateral trade in their national fiats. Financial Expo Brings Together Crypto Experts From Russia and Iran Business leaders and industry professionals from Iran and Russia have…
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Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new technologies that support it. BRICS to Stimulate Trade Transactions in Local Currencies The BRICS group of the largest…
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