10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies

The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore,…

BRICS De-Dollarization Push, China, and Crypto Threaten US Dollar’s Dominance: Analyst

Fitch Solutions’ global head of country risk has named the rising adoption of cryptocurrencies, the de-dollarization efforts by the BRICS countries, and China’s rising “economic might” as key factors that erode the U.S. dollar’s dominance over time. He cautioned that China…

China Ready to Talk Asian Monetary Fund to Cut Dollar Dependence, Malaysia Says

An idea to establish an Asian Monetary Fund has caught the attention of the Chinese leadership, the head of the Malaysian government revealed. The prime minister believes there is no reason for his country, which is hurting from a strong U.S….

India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments…

Former Cohasset High School Employee Accused of Stealing Thousands in Electricity to Mine Bitcoin in School Campus Crawlspace

A former school assistant facilities director in Cohasset, Massachusetts, has been accused of operating a cryptocurrency mining operation inside a crawlspace at Cohasset High School. The Cohasset Police Department alleges that Nadeam Nahas stole nearly $18,000 in electricity to power the…

Crypto Exchange Binance Restricts 281 Nigerian Accounts — Some Requested by International Law Enforcement

Cryptocurrency exchange Binance has restricted 281 Nigerian user accounts. Citing user security and fraud prevention, CEO Changpeng Zhao explained that “approximately 38% of these cases [are] restricted at the request of international law enforcement.” 281 Nigerian Accounts Restricted by Binance, CEO…

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns

Bitcoin’s hashrate has increased a great deal, even after the leading crypto asset’s price slipped below the $50K price zone. Eight days ago the network hashrate was coasting along at 168 exahash per second (EH/s), and this past week it increased…

Study Findings Show 83.7% of Luno Users Are Bullish on Bitcoin’s Resurgence

About 83.7% of those surveyed by Luno in a recent study believe the price of bitcoin will rise significantly in the next few months. In fact, 59.4% of the more bullish respondents are expecting the leading crypto to rise to as…

Major Crypto Exchanges Cut Ties With Chinese Users After China’s Latest Crackdown on Cryptocurrency

Major cryptocurrency exchanges are cutting ties with users in China following the latest crypto crackdown announcement by the Chinese government. Huobi has stopped letting new users in China sign up for its services while Binance has blocked account registrations using Chinese…