foreign currency

Court Orders New York Man to Pay $36M for Forex, Digital Asset Fraud

September 21, 2024 Bitcoin.com

bitcoin.com

William Koo Ichioka has been ordered to pay over $36 million after admitting to a forex and digital asset fraud scheme. His scam, which started in 2018, involved falsifying financial documents and misusing investor funds for personal luxuries like cars and jewelry. In addition to financial penalties, Ichioka faces prison time. The Commodity Futures Trading […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

$2.3 Billion in Dollar, Euro Bills Shipped to Russia Despite Ban

August 14, 2024 Bitcoin.com

bitcoin.com

Despite Western restrictions imposed after Russia invaded Ukraine, billions of dollars and euros in banknotes have flowed into the country. This suggests that Russia has found ways to circumvent these restrictions. Despite official efforts to reduce reliance on foreign currency, Russian citizens still prefer dollars and euros. Russia Successfully Skirts Western Sanctions Dollar and euro […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Ghana Launches Centralized Online Foreign Exchange Trading Platform

August 2, 2024 Bitcoin.com

bitcoin.com

The Bank of Ghana has recently launched a centralized online foreign exchange trading platform. This platform aims to enhance secure and efficient operations in the foreign exchange market. As of August 1, 2024, all licensed Foreign Exchange Bureaux are mandated to use this platform for buying and selling foreign currencies. The system will improve oversight […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Zimbabwe Injects $50M in Forex Market to Stabilize Currency

July 27, 2024 Bitcoin.com

bitcoin.com

Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), has injected over US$50 million into the interbank foreign exchange market to stabilize the economy. This move comes as the parallel market exchange rate is significantly higher than the official rate, causing economic instability. The RBZ aims to increase foreign currency supply, reduce pressure on banks, […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

IMF Warns Zambia Against Dedollarization, Calls Plan Counterproductive

July 20, 2024 Bitcoin.com

Africa

An International Monetary Fund representative has cautioned that Zambia’s proposed dedollarization initiative may inadvertently undermine efforts to contain inflation. The representative expressed concern that the prevailing economic conditions in Zambia are not conducive for the country to proceed with the de-dollarization proposals. Zambia Not Ideally Placed to Dedollarize The International Monetary Fund (IMF)’s Zambian representative, […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Tanzania Seeks to Shore up Local Currency With Directive Mandating Tourists to Use Shillings

July 16, 2024 Bitcoin.com

bitcoin.com

Tanzania’s Ministry of Tourism and Natural Resources has mandated that all fees in the tourism sector must be paid in local currency, aligning with a government directive for local transactions to use the country’s shillings. This requirement applies to Tourism Business Licence fees, filming permits, and visiting fees. Previously dollar-denominated payments will now be converted […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Analyst Predicts Gold Prices Might Exceed $8,000 in the Next Decade as Central Banks Lose Confidence in Foreign Currency

March 27, 2023 Bitcoin.com

bitcoin.com

Jan Nieuwenhuijs, a gold market analyst, has predicted that gold might exceed prices of $8,000 during the next decade, as the current Ukraine-Russia war, and the worldwide battle against inflation, shift the preference of central banks for foreign currencies to gold. The proposed long-term price model shows that each troy ounce of the metal might […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Report: Egyptian Police Arrest 29 Alleged Masterminds of Crypto Mining App Scam

March 14, 2023 Bitcoin.com

Abdulaziz Hussein

The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests. According to a lawyer representing over 1,000 victims, as many […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Central Bank of Bolivia Selling Dollars Directly to Citizens as Devaluation Fears Rise

March 11, 2023 Bitcoin.com

bitcoin.com

The Central Bank of Bolivia is now selling dollars directly to citizens in order to curb what it is calling a speculative attack that has increased the demand of the population for foreign currency. This rise in demand has been caused by several factors which led the population to believe there might be a devaluation […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan

December 5, 2022 Bitcoin.com

Atomyze

A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt. Digital Financial Assets for 58 Million Yuan Issued by Russian Platform […]

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Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours