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Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ Currency

Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ CurrencyThe percentage of reserves held in U.S. dollars by central banks has fallen to less than half of the global total of reserves, according to a note from Eurizon SLJ Asset Management. The note states that the recent sanctions enacted by the U.S. against the Bank of Russia have eroded trust in the dollar as […]

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Ukraine plans to adopt EU’s new cryptocurrency regulations

Immediately after passing the European Parliament, Ukrainian authorities announced plans to adopt the EU's MiCA regulations on crypto assets.

Hot on the heels of the European Parliament passing the Markets in Crypto-Assets (MiCA) regulation, Ukrainian regulators have stated publicly that they will adopt the legislative package in their own country as well.

The Deputy Chairman of the Tax Committee of Ukraine, Yaroslav Zheleznyak, said on his Telegram channel on April 20 that “We, along with colleagues from the NKCPFR [National Commission for Securities and the Stock Market] and other regulators, are already working on implementing some provisions of MiCA to make crypto assets legal in Ukraine.”

Yurir Boyko, a member of the NKCPFR said, “I am sure Ukraine will be one of the first countries to implement this regulation into national legislation.”

The introduction of MiCA marks a major advancement for the crypto industry within the European Union. 

MiCA is the result of long efforts of European policymakers to introduce uniform regulations and create standardized rules for crypto assets across the EU, as crypto businesses are currently required to adhere to 27 distinct regulatory frameworks across EU member countries.

The implementation of MiCA is expected to enhance the competitiveness of startups in the EU, which could lead to a rise in their market share as compared to unregulated competitors.

Related: Ukraine’s central bank sees both promises and threats in Bitcoin

Despite the need for EU lawmakers to still conduct legal and linguistic checks for MiCA as well as publish the bill in the EU journal, different stakeholders in the crypto industry have reacted positively to the development.

Ukraine's move to adopt EU regulations comes on the backdrop of the Eastern European country receiving candidate status to the EU in June 2022. Per the European Council, European regulators have “acknowledged the considerable efforts that Ukraine has demonstrated towards meeting the objectives underpinning its candidate status for EU membership.”

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Russia Negotiating Free Trade Deal With India to Facilitate Imports in the Face of Sanctions

Russia Negotiating Free Trade Deal With India to Facilitate Imports in the Face of SanctionsRussia is in the process of negotiating a free trade deal with India in order to substitute part of the products and investments that were banned by sanctions enacted after the Ukrainian conflict erupted. Russia is now the largest oil supplier of India, with the country taking advantage of the discounted Russian crude. Russia and […]

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Jeffrey Tucker on De-Dollarization: USD Will No Longer Be King, We’re at Turning Point for US Dollar

Jeffrey Tucker on De-Dollarization: USD Will No Longer Be King, We’re at Turning Point for US DollarJeffrey Tucker says we are at the turning point for the U.S. dollar, citing a growing de-dollarization trend. “The dollar’s just not going to be king,” he warned, adding that history will record recent events “as the turning point for the dollar.” Jeffrey Tucker on De-Dollarization, USD’s Turning Point Jeffrey Tucker, an author and publisher […]

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French President Emmanuel Macron on Taiwan: ‘Being an Ally Does Not Mean Being a Vassal’

French President Emmanuel Macron on Taiwan: ‘Being an Ally Does Not Mean Being a Vassal’French president Emmanuel Macron has decided to double down on his strategic autonomy policy thesis, declaring that Europe should not be forced to side with Beijing or Washington on Taiwan. Macron declared that being a U.S. ally ‘does not mean being a vassal’ in a state visit to Amsterdam, propping criticism and praise alike for […]

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Tucker Carlson Blames Recent De-Dollarization Movements on Russian Sanctions and US Dollar Weaponization

Tucker Carlson Blames Recent De-Dollarization Movements on Russian Sanctions and US Dollar WeaponizationTucker Carlson, host of Fox News and the “Tucker Carlson Tonight” show, analyzed the situation surrounding de-dollarization movements that countries like China and Russia have promoted recently. Carlson stated that sanctions on Russia and the weaponization of the U.S. dollar are partly to blame for the developments. Tucker Carlson Believes Sanctions Are to Blame for […]

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Ukraine Dismantles $40 Million Russian Crypto Pyramid

Ukraine Dismantles  Million Russian Crypto PyramidUkrainian law enforcement has exposed a financial pyramid originating from Russia suspected of making millions of U.S. dollars. The scam convinced victims to send fiat money and cryptocurrency by promising profitable investments in big companies around the world. Large Crypto Pyramid Scheme With Russian Roots Busted in Ukraine Officers from the Security Service of Ukraine […]

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Georgia Rep. Marjorie Taylor Greene Criticizes Fednow Project, Pushes for Return to Gold Standard

Georgia Rep. Marjorie Taylor Greene Criticizes Fednow Project, Pushes for Return to Gold StandardOn Wednesday, Marjorie Taylor Greene (MTG), a Republican member of the U.S. House of Representatives, shared an article about the Federal Reserve’s Fednow project and criticized the central bank’s digital currency efforts. The representative from Georgia insisted that the U.S. should return to the “gold standard” and said she’s taking a “hard pass” on digital […]

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Bear markets are for filming: The Bitcoin Film Festival in Warsaw

Lights, camera, Bitcoin: A Bitcoin Film Festival in Poland brought the Bitcoin revolution to the big screen.

The bear market might rage on, but that won’t stop the Bitcoin (BTC) shooters, creators and filmmakers from producing new content. 

Hosted in the capital of Poland, Warsaw, the first edition of the Bitcoin Film Festival took place in March. The festival brought together Bitcoin advocates and film lovers from across the globe to sit through some of the best-known Bitcoin films and documentaries.

Hosted in the Kinoteka theater in the iconic Palace of Culture and Science, the Bitcoin Film Festival festival celebrated Bitcoin’s growing global influence while underscoring the thriving cultural movement that underpins the digital network. Some talents from the Bitcoin movement’s first film festival, BitFilm in 2015, such as Tomer Kantor, were in attendance, and they continue to shoot Bitcoin-centric films.

Cointelegraph premiered The Bitcoin Farmer, a short documentary about Bitcoin mining using solely renewable energy in Ireland. The film was followed by a panel discussion with Cointelegraph’s director of video, Jackson Dumont; global reporter, Joe Hall; co-founder of Bitcoin Film Fest, Pierre Corbin; and Mark Morton and Vince Giltinan from Scilling Digital Mining.

On stage for the Bitcoin Farmer debrief. From left, Pierre Corbin, Joe Hall, Jackson Dumont, Vince Giltinan and Mark Morton.

Pierre Corbin told Cointelegraph that he and co-founder Tomek Kolodziejczuk put together the Bitcoin Film Festival because it’s a “cool idea” for the community. Although the film fest was a valuable means of introducing Polish people to Bitcoin, Pierre explained that Bitcoin “has been very popular here in Poland with Ukrainians coming here because of the war.”

Poland borders Ukraine, with as much as 25% of Poland’s immigrant population being Ukrainian. At the outset of the war, Bitcoin donations soared, and Corbin explains that people on the ground used the decentralized tool:

“The human rights foundation helped them [Ukrainians] transfer their wealth into Bitcoin, helping them cross the border here into Poland and then walk them through the process of getting their money back out from Bitcoin ATMs because Poland is the country in Europe with the most Bitcoin ATMs.”

Kolodziejczuk set the ball rolling for the world’s first Bitcoin film festival in November 2022. He was keen to meet Corbin and screen his film, The Great Reset and the Rise of Bitcoin, at a local Bitcoin meetup. However, the idea snowballed. Their encounter and subsequent meetings led to the screening of Bitcoin movies from around the world in one of Eastern Europe’s most iconic buildings.  

The film festival location. Source: Linkedin

From documentaries shot in El Salvador, like Bond to Unbind, to a snapshot of the impact of Bitcoin on individuals’ lives in The Human B, the film festival showcased the most recent and notable film production efforts. Corbin explained the selection process:

“If you select the right films that tell the right stories, then bringing people from outside will understand Bitcoin from the angle that we want them to understand.”

A crowdfunding campaign was held through the Bitcoin crowdfunding campaign Geyser Fund, in which The Satoshi Mystery by Remi Baillieux won the community-voting segment. Meanwhile, Pierre raised Sats (the smallest denomination of a Bitcoin) for his second Bitcoin documentary, The Fight for the US Dollar.

Related: Film review: ‘Human B’ shows a personal journey with Bitcoin

The film festival also piggybacked off a Libertarian conference hosted in Warsaw the same weekend. Libertarians, or proponents of minimizing the state's encroachment on daily life, were some of the earliest adopters of Bitcoin.

The Bitcoin Film Festival is investigating whether to change the location for the 2024 installment or to keep the festival in Warsaw. While bear markets are undoubtedly for building, it appears they're also for filming. 

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Most Crypto Sent From Wallets Sponsoring Russia in Ukraine War Reaches CEXs, Binance, Research Shows

Most Crypto Sent From Wallets Sponsoring Russia in Ukraine War Reaches CEXs, Binance, Research ShowsMillions of U.S. dollars’ worth of cryptocurrency has been sent to centralized exchanges (CEXs), most notably Binance, from wallets providing funds in support of Russia’s war effort in Ukraine, transaction data suggests. According to Ukrainian analysts, the money was transferred to the crypto trading platforms in order to be laundered. Over 90% of Pro-Russian Crypto […]

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