Binance handles fear, uncertainty and doubt (FUD) surrounding its business future following a lawsuit from U.S. authorities. Regulators in the United States have a fresh target on their radar: Binance. The Commodity Futures Trading Commission (CFTC) has sued the world’s biggest crypto exchange by trading volume for regulatory violations. Accusations range from insider trading to…
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Central bank digital currency (CBDC) adoption continues apace in China – where the digital yuan is breaking new ground in the worlds of import taxation and cross-border commerce. Securities Times reported that Guangdong, China, has begun issuing digital yuan import tax refunds…. Read More: China’s Digital Yuan Makes Import Tax, Commerce Breakthroughs – Are CBDCs…
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BRICS, a set of countries grouped as an alternative to the G7, is now the world’s largest gross domestic product (GDP) bloc, taking purchasing power parity into account, according to reports from Acorn Macro Consulting. Powered By China’s growth, the group now contributes 31.5% to the global GDP, while the G7 provides 30.7%. BRICS Countries…
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China has been advancing its goal of positioning the yuan as an alternative to the U.S. dollar for settling international payments. The Chinese government recently struck a bilateral deal with Brazil to settle trades using their national currencies and completed a purchase of Liquefied Natural Gas (LNG) with a French company using yuan as payment.…
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Cryptocurrency and technology proponents have recently been discussing a new bipartisan bill called the “Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT)” Act. In addition to targeting firms such as Kaspersky, Huawei, and Tiktok, opponents of the bill believe one of its provisions will punish ordinary Americans for leveraging a…
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Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic…
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The city of Huizhou, in China’s Guangdong Province, has announced that businesses can now use the digital yuan – China’s central bank digital currency (CBDC) – to make tax payments. Per HZ News, a construction firm named Huizhou Puli Curtain Wall Engineering recently became the first firm in city’s Huiyang District to pay its urban…
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A growing number of Chinese government city authorities, banks, and firms are looking to adopt the digital yuan as a payment tool as the central bank digital currency (CBDC) rollout continues to intensify. A number of similar measures in recent months suggest that Beijing is looking to build up the e-CNY’s credentials as a tool…
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Following allegations that Binance employees and volunteers help users bypass KYC protocols, the crypto exchange says it is launching an internal investigation. A recent article surfaced alleging that Binance employees and volunteers were assisting Chinese users on how to bypass Know Your Customer (KYC) and other security protocols. However, speaking to Cointelegraph a spokesperson from…
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As part of the talks that Russian president Vladimir Putin and Chinese president Xi Jinping are currently conducting in Russia, Russia has vowed to move to use the Chinese yuan as a settlement currency with countries in Asia, Africa, and Latam. Putin expressed that using national currencies for international trading “should be encouraged further.” Russia…
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