While cryptocurrencies are rapidly revolutionising financial systems, the Society for Worldwide Interbank Financial Telecommunications (SWIFT) is trying to prevent their misuse to circumvent sanctions by Russia and China. At the London Digital Assets Summit on May 6, Tom Zschach, SWIFT’s Chief Innovation Officer, laid out how the company is enhancing
Bitcoin surged early Wednesday in Asia as renewed optimism over US-China trade negotiations lifted investor sentiment. The cryptocurrency climbed as much as 3.2% to reach $97,500 in Singapore trading before pulling back slightly. Ether, the second-largest digital asset, also saw a gain of 4.2% amid the broader market rally. The
Senior Meta executive Sarah Wynn-Williams turned into a whistleblower regarding the firm’s involvement with China. The news is raising concerns about the social media giant’s intention behind helping China in advanced technology, such as AI development. A Bloomberg news report confirmed that Sarah is going to testify before the Senate
With more strict Western sanctions, Russian oil companies are using more and more cryptocurrencies to trade with India and China, Reuters. This reflects the part played by cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT) in avoiding traditional financial rules. Crypto as a Tool to Trade Russian
The cryptocurrency market witnessed another hit on 3rd, February 2025, as China responded to Trump’s US tariff implementation. In retaliation, China imposed a 10-15% tariff on American goods and launched an antitrust probe into Google. Following this, Bitcoin fell to a three-day low of $91,541, and Ethereum lost nearly 25%
Crypto Taxation is known to hold an element of obscurity from both taxpayers’ and national governments’ perspectives. This obscurity arises due to the lack of a definite approach to the process. The past year saw multitudes of nations navigating the sphere and producing Taxation laws as part of regulating the
A Chinese court has ruled that cryptocurrency futures trading constitutes illegal gambling, convicting multiple employees. Agents of BKEX, a crypto exchange that amassed over 270,000 users and generated $54.7 million (300 million yuan) in profits before authorities intervened. The People’s Court of Pingjiang County, Hunan Province, ruled that BKEX’s contract
Yao Qian, once a key figure in China’s digital currency efforts, was removed from the Communist Party and his government role after being accused of corruption involving bribes and cryptocurrency deals. Yao Qian, a former top official in China, faced expulsion from the Communist Party and removal from his government
Former Chinese finance minister Lou Jiwei called on China to carefully study cryptocurrency progress during his comments at the 2024 Tsinghua Wudaokou Chief Economists Forum in Beijing. The speech was reported by Sina Finance and it said that the former minister warned about the dangers of cryptocurrency, including its volatility
China has announced significant monetary easing measures, including multiple rate cuts and a reduction in banks’ reserve requirements, to stimulate its struggling economy. The People’s Bank of China (PBOC) will lower the reserve requirement ratio (RRR) for banks by 50 basis points (bps), which is expected to release approximately $142
