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New Mining Legislation in El Salvador Paves Way for Gold Exploitation

New Mining Legislation in El Salvador Paves Way for Gold ExploitationOn Monday, the Legislative Assembly of El Salvador approved a new metallic mining law, opening the door for gold exploitation in the country. The change, previously hinted at by President Nayib Bukele, was met with criticism from environmental activists, who believe this will negatively affect the country. With New Mining Law, El Salvador Stakes Claim […]

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El Salvador Reinforces Bitcoin Allegiance: Purchases BTC in Defiance of IMF Agreement

El Salvador Reinforces Bitcoin Allegiance: Purchases BTC in Defiance of IMF AgreementThe government of El Salvador has clarified that it will continue pushing bitcoin as part of its economic strategy, even as it inked an agreement with the IMF to wind down its bitcoin operations. El Salvador Keeps Purchasing Bitcoin After IMF Deal While many lamented the recent agreement between El Salvador and the International Monetary […]

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UAE Interior Ministry and FSRA Partner to Combat Virtual Assets-Related Crime

UAE Interior Ministry and FSRA Partner to Combat Virtual Assets-Related CrimeThe United Arab Emirates’ Interior Ministry has signed a memorandum of understanding with the Financial Services Regulatory Authority to combat virtual assets-related crime. Strengthening Risk Mitigation Frameworks The United Arab Emirates (UAE)’s Interior Ministry has signed a memorandum of understanding with the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to […]

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Top UAE Bank Joins the Crypto Revolution With Investment in Zodia Custody

Top UAE Bank Joins the Crypto Revolution With Investment in Zodia CustodyEmirates NBD, a leading United Arab Emirates (UAE) bank, has invested in Zodia Custody, a digital asset custodian, through its Innovation Fund. A Step Forward for Zodia Custody Emirates NBD, one of the United Arab Emirates’ leading banks, recently disclosed that it had invested in Zodia Custody, a digital asset custodian. The investment was made […]

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President Bukele Gets the Last Laugh: Over $300 Million in Unrealized Bitcoin Gains

President Bukele Gets the Last Laugh: Over 0 Million in Unrealized Bitcoin GainsBukele celebrated the recent bitcoin rally and the $100K milestone, posting a screenshot of El Salvador’s bitcoin investment unrealized gains. Fighting tooth and nail against naysayers, including institutions like the IMF, the leader brought in over $300 million in profits from one of the largest nation-state bitcoin trades. Bukele Shows El Salvador’s Bitcoin Wallet Profits: […]

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Bahrain-Backed Bank Launches Digital Asset Custody Service

Bahrain-Backed Bank Launches Digital Asset Custody ServiceBahrain-backed Singapore Gulf Bank has launched digital asset custody and trading services, positioning Bahrain as a hub for digital finance and connecting Asian and Middle Eastern markets. Bahrain Aims to Connect Asian and MENA Markets Bahrain-backed Singapore Gulf Bank has launched digital asset custody and intuitive trading solutions services. The bank is also set to […]

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El Dorado CEO: Venezuela Highlights Stablecoins’ Use Case as a ‘Tool for Resilience’

El Dorado CEO: Venezuela Highlights Stablecoins’ Use Case as a ‘Tool for Resilience’Guillermo Goncalvez, founder and CEO of El Dorado, a Latam-focused P2P exchange, has reflected on the rise of stablecoins from a niche product to a widely used tool in Venezuela. Goncalvez states that, as Venezuelans shift to using the dollar due to devaluation, stablecoin remittances have soared, demonstrating that these are a viable alternative when […]

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Bitcoin Adoption Reaches Critical Low in El Salvador Despite Government Push

Bitcoin Adoption Reaches Critical Low in El Salvador Despite Government PushA new survey has found that bitcoin usage has dropped to critical levels in El Salvador, with less than 10% of its citizens using it to make transactions. The numbers are surprising to analysts, given the push that President Nayib Bukele has made for bitcoin in the country since its adoption as legal tender in […]

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US lagging behind in global stablecoin adoption — Chainalysis

Growing demand for US dollar-backed stablecoins and regulatory uncertainty in the US are the key reasons for stablecoins thriving in other jurisdictions.

The United States has seen record Bitcoin activity since the launch of spot BTC exchange-traded funds (ETFs). However, stablecoin adoption in the US has slowed in 2024 compared to global markets, according to an Oct. 17 report from Chainalysis.

US markets have recorded a significant shift in stablecoin activity this year, with the share of stablecoin transactions on US-regulated exchanges dropping from roughly 50% in 2023 to below 40% in 2024.

In contrast, the share of stablecoin transactions on non-US regulated platforms has surged since 2023, breaking 60% in 2024, according to Chainalysis’ latest report on crypto adoption trends in North America.

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BRICS Bank Offers Zimbabwe Escape From IMF Debt Traps, Says Professor

BRICS Bank Offers Zimbabwe Escape From IMF Debt Traps, Says ProfessorA Zimbabwean professor has highlighted the BRICS New Development Bank (NDB) as a crucial alternative to the International Monetary Fund (IMF), offering better financial terms to developing nations. He emphasized the NDB’s role in helping countries like Zimbabwe escape debt cycles and discussed the introduction of Zimbabwe Gold (ZiG), a currency backed by mineral wealth, […]

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