The larger portion of payments between Russia and China are now processed using the currencies of the two countries, Prime Minister Mikhail Mishustin revealed. Moscow and Beijing intend to increase mutual trade beyond the $200-billion target this year, added the head of the Russian government. Mishustin: 70% of Settlements Between Russia and China Conducted in […]
Author: Lubomir Tassev
Bill Seeks to Oblige South Korean Lawmakers to Declare Crypto Assets
A new bill requiring South Korean lawmakers to disclose their cryptocurrency holdings has been proposed in Seoul. The legislative initiative comes amid a snowballing scandal surrounding the crypto dealings of an opposition lawmaker whose case has been referred to the parliamentary ethics committee. New Legislation to Introduce Crypto Reporting Requirements for South Korean Parliamentarians Representatives […]
Putin Wants Limit on Currency Purchases for Russians Dealing With Foreigners
Russian citizens and firms doing business abroad may soon be restricted in the amount of foreign currency they are allowed to acquire, on order from Vladimir Putin. Russia’s head of state now wants his government to cap such purchases on the domestic forex market. President Putin Orders Russian Authorities to Limit Foreign Currency Purchases Russian […]
Russia ‘Actively’ Working on SWIFT Alternatives, Foreign Ministry Official Says
The Russian Federation is collaborating with partners to link payment systems alternative to the interbank messaging system SWIFT, a representative of the country’s Ministry of Foreign Affairs announced. The work is part of the de-dollarization of the economy, the official indicated. Russia Seeking to Substitute SWIFT in Trade as Part of De-dollarization Policy The Russian […]
De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov
The process of de-dollarization has practically started, according to Russian Minister of Foreign Affairs Sergey Lavrov. Moscow’s top diplomat is convinced that Russia’s position on the matter is shared by many other countries while the West is undermining the role of the U.S. currency. Russia’s Sergey Lavrov Announces Beginning of De-dollarization of Global Economy Russian […]
‘Apple and Google Are Systemic Risks to Crypto,’ Says Ex-Coinbase CTO
Authorities in the U.S. and elsewhere may try to compel tech firms like Apple and Google to exfiltrate private keys from devices and apps under their control, crypto entrepreneur Balaji Srinivasan warned on social media. The former executive of Coinbase believes this would be done to remit funds to cash-hungry governments. Tech Giants Apple, Google […]
Bank of Russia Expects Significant Growth in Digital Assets Market
The Central Bank of Russia predicts an increase in the issuance of digital assets, citing some of their advantages. The monetary authority has published a report presenting the progress made by the growing industry and assessing the prospects for its further development. Russia’s Central Bank Issues Report on Market for Digital Assets The Central Bank […]
FATF President Urges G7 to Lead in Shutting Down ‘Lawless Crypto Space’
It is necessary to put an “end to the lawless crypto space,” according to the head of the Financial Action Task Force (FATF). G7 nations must set an example in implementing global standards on combating money laundering, the executive insisted, as little progress has been made in regards to introducing the organization’s new crypto rules. […]
Banks Not Getting Anticipated Benefits From Rate Hikes, ECB Executive Admits
Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been done already, more rate increases are to come. Euro Banks Have Solid Fundamentals, ECB’s de Guindos […]
Rate Hikes Affecting Housing Markets in Eurozone, United States, ECB Study Shows
Interest rate hikes in the euro area are already causing a decline in housing investment, the zone’s central bank revealed in a study. While smaller than in the United States, the impact of the monetary policy tightening on the Old Continent is likely to grow further, the regulator expects. Housing Investment in Europe Declining Amid […]