The BRICS leaders stress “the importance of encouraging the use of local currencies in international trade and financial transactions” in their declaration released at the conclusion of their 15th annual summit. In addition, the BRICS nations have tasked their finance ministers and central bank governors to “consider the issue of local currencies, payment instruments, and […]
Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue
Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign […]
The Central Bank Of Venezuela applied the announced redenomination plan for the national fiat currency, the bolivar on October 1. This redenomination implied slashing six zeroes from the currency, to make payments and currency handling easier, according to earlier statements. However, just hours after applying this measure, the bolivar lost more than 20% of its […]
Venezuelan Programmer Who Created the Petro Token Regrets Participating in the Project — Works on an Alternative Token
Venezuela’s government-backed cryptocurrency is not having the acceptance its cabinet expected, as the latest reports suggest. The petro’s creator, who now lives in exile, wants to build another crypto that gets the adoption its original creation did not in the nation. Jiménez Believed the Petro Could Have Given Venezuelans a ‘Measure of Freedom’ Per a […]
Cryptocurrency usage has been expanding globally and a new survey confirms that trend. The poll conducted by Statista shows that the citizens of troubled countries tend to exploit the benefits of decentralized digital money far more readily than the citizens of thriving nations. Also read: VPN Providers Defy Order to Connect to Russia’s Internet Censor […]
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As the situation in Venezuela intensifies, a local bitcoin user details how he and his family use the cryptocurrency to survive the country’s ongoing crisis. Keeping all of his money in bitcoin, he only exchanges small amounts into the hyperinflating bolivar when necessary. Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval […]
Macro trends suggest that a global economic crisis could be looming. Worries about a global recession have been fed by the newly published GDP report showing that China grew at its slowest rate last year since 1990. If a global recession were to happen in the future, many believe that cryptocurrencies, bitcoin primarily, would benefit. […]
Acknowledging Venezuela’s efforts to deal with inflation and sanctions by creating a state-issued cryptocurrency, Russian officials have nevertheless declined a proposal to use the oil-backed coin in bilateral trade. According to Russian media, Moscow has recently offered Caracas a set of measures aimed at mending the country’s economy but the petro is not among the […]
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