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The BRICS nations are reportedly working on developing a new form of currency, which is expected to be discussed at the next BRICS leaders’ summit, according to a top Russian official. “The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other … Read more
A top Russian official has reportedly claimed that the BRICS alliance is working on creating its own currency. Go to Source Powered by WPeMatico
In a letter to investors, BlackRock CEO Larry Fink highlighted the benefits of digital assets and said developing nations like the U.S. are lagging behind in innovation. Go to Source Powered by WPeMatico
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India … Read more
The similarity in the short forms of the two banks — SVB and SVC Bank — caused a mixup among a few Indian citizens as they took up the concern with the Mumbai-based bank. Go to Source Powered by WPeMatico
Elizabeth Warren and Sherrod Brown didn’t miss a chance to attack the crypto industry after bank failures. Go to Source Powered by WPeMatico
It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out that Warren is “terribly misinformed.” Additionally, U.S. Regulators closed Silicon Valley Bank after reports of a bank run and other troubles. In … Read more
India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA). Noting that the move “is a positive step in recognizing the sector,” a crypto insider explained that it will strengthen the industry’s efforts to prevent virtual digital assets “from being misused by bad actors.” India … Read more
On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S. dollar’s dominance in the oil trade under pressure. Sources Say Non-U.S. … Read more
The operators face an obligation to store the transactions’ data for ten years and pass it to regulators on demand. Go to Source Powered by WPeMatico
