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Topic

Economy

A collection of 596 issues

The dollar remains dominant in international transactions and I see no alternative that could displace the dollar in the foreseeable future - US Treasury Secretary Yellen

I do not see the dollar's role threatened by plans by Russia, Brazil, India and China to create a new currency. The record volume of bilateral trade in 2022 shows that there are plenty of opportunities for US and Chinese firms to engage in trade and investment.

Vietnamese authorities launch investigation against Pi Network

A few days ago it was reported online that police were interested in the latest GCV International from Pi Network. This was confirmed by the Vietnamese Department of Cybersecurity and Hi-Tech Crime Prevention, adding that the project's business model was "suspicious" and had indications of a pyramid scheme in the

Kraken must turn over customer and transaction information to IRS

A federal court has ordered the Kraken exchange to turn over customer account and transaction information to the Internal Revenue Service (IRS). The information will be needed to verify that users have declared their taxes correctly and have not avoided paying them. In February, the IRS had already filed a

Fidelity has applied for a spot bitcoin-ETF

Fidelity, a fund with $4 trillion under management, has applied to launch a spot bitcoin-ETF. It has $4.2 trillion under management.

Bitcoin accounted for 19% of illegal crypto transactions in 2022

TRM Labs has published a report regarding illegal crypto-ecosystem transactions. According to the document, cybercriminals have begun to move away from the Bitcoin blockchain to other networks such as Ethereum, Tron, Binance Smart Chain, etc. Bitcoin accounted for about 19% of the "criminal" volume of cryptocurrency last year.

Binance hides illegal activities through front companies in Ireland and Malta - Protos

EU authorities believe Binance is using a network of front companies in Ireland to "dilute" its financial flows to avoid attracting the attention of regulators and tax authorities, Protos reports. Another organisation, Binance (Services) Holdings, has close links to the company's business in Malta. Authorities believe the exchange is overstating

Binance withdraws its application for a license in Austria

The Binance exchange has withdrawn its application for a license from Austria's financial regulator, FMA. This was done amid pressure from the authorities, Finance FWD writes.

Binance to focus on growth in UAE

Cryptocurrency exchange Binance has chosen the UAE as one of its most important areas for future development. "Binance is here [in the UAE] because we have been given the assurance that we can set up operations and build the future," it said in a statement. Local head Alex Chehade told

JPMorgan launches blockchain payments in euros via JPM Coin

JPMorgan Bank has announced the introduction of blockchain payments in euros, which will be conducted through the company's native JPM Coin. As part of the project, the bank has introduced a transaction system for its corporate clients. The first transfer has already been made by the German company Siemens AG.

Three Arrows Capital returns to the market, but as a venture capital fund

Bankrupt Three Arrows Capital is "returning" as a venture capital fund called 3AC Ventures. It has been introduced by the OPNX exchange as its new partner. The founders of the exchange are also the founders of Three Arrows Capital.