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 mean being a vassal’ in a state visit to Amsterdam, propping criticism and praise alike for…
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It has been another busy week for China’s central bank digital currency (CBDC), the digital yuan, with the token finding new usage cases in the fields of housing aid public resource transactions. Xinhua Daily reported that the Jiangsu Provincial Government Affairs Office has begun using the CBDC in 10 new “application scenarios.”… Read More: China’s…
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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 denominated in U.S. dollars and that most transactions are still concluded with…
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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 the U.S. federal government. The former CTO of Coinbase also said he will issue an update on his ongoing $1 million-dollar…
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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 pondering: “Why do all countries have to base their trade on the dollar?” Brazil’s President Wants to Reduce the…
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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 community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices…
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Major crypto mining hardware maker Bitmain is reportedly looking at a nearly $4 million fine for unpaid taxes in Beijing. According to a report by the local news agency Sina Finance, Bitmain has failed to pay income taxes as required by China’s laws governing tax collection…. Read More: Beijing-Based Bitcoin Miner Bitmain Faces Fines for Tax Regulation Breach – Here’s the Latest…
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More than 420,000 merchants in Changsha, China, now accept payments in the digital yuan, China’s central bank digital currency (CBDC). The city, located in Hunan Province, was added to the pilot in April 2021. In February this year, Changsha authorities said that 300,000 merchants in the city were processing digital yuan payments. But the same…
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Metalpha has secured $20 million out of the planned $100 million for its new fund from overseas Chinese investors, the CEO said. Hong Kong-based cryptocurrency wealth manager Metalpha Technology is working to offer new entry points into Bitcoin (BTC) and Web3 to investors in Asia. Metalpha is raising a $100 million fund to invest in…
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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 estimates suggesting they will remain unchanged. Post Zero-Covid Policy Inflation in China Eases Further China’s…
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