Search Results for: Petro

EU Bans Crypto Services for Russians in New Sanctions Over Ukraine Escalation

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An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU. The measures are part of an expected tightening of the economic and financial restrictions in response to Moscow’s decision to annex…

Nicolas Maduro Tempts West With an Abundance of Oil and Gas, Venezuelan President Wants Sanctions Lifted

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Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Venezuela has the largest supply of crude…

Colombia Plans to Launch Digital Currency to Reduce Tax Evasion

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The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made by citizens. The proposed measure would also…

Saudi Chemicals Producer SABIC Launches Blockchain Pilot Project

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A Saudi Arabia-based chemical manufacturer has said its recently launched blockchain pilot is expected to uncover the possibilities of the technology “in supporting end-to-end digital traceability of circular feedstock in customer products.” The benefits expected to accrue from using blockchain include…

American Economists Are Baffled by an ‘Unusual Situation’ as Russia’s Ruble Is the World’s Best Performing Fiat Currency

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Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency…

Report: Lebanese Pound Exchange Rate Against Dollar Plunges to All-Time Low

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After relative calm for a few months, the Lebanese pound has plunged to an all-time low of 35,600 per dollar, a report has said. The currency’s latest slide is expected to worsen Lebanon’s economic challenges. Pound Depreciation In a sign that…

Erratic Bond Yields, Lockdowns, and War — 3 Reasons Why Economic Recovery Won’t Happen Quickly

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The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value. Since May 2, 2022, the crypto economy has dropped more than 15% from $1.83 trillion to today’s $1.54 trillion….

Venezuelan Government Approves New Tax for Cryptocurrency and Foreign Currency Transactions

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The Venezuelan Government has approved a new tax that would affect transactions made in foreign currency and cryptocurrency transactions. Approved by the National Assembly of the country, the tax, called the “large financial transactions” tax would collect up to 20% over…

Pensioners of the National Oil Company Will Receive 2 Petros as a Gift in Venezuela

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The pensioners of the state-owned oil company of Venezuela, PDVSA, have started receiving a Christmas bonus in petros (PTR), the first national cryptocurrency launched back in 2018. The petro, which is backed by Venezuelan oil and other resources, can be traded…

FTX US Partners With Monumental Sports Entertainment, Gets Exposure to 4 New Sports Teams

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FTX continues its path toward the sports world as it signed a partnership with Monumental Sports Entertainment (MSE) on Monday. The deal makes it so FTX US will be MSE’s exclusive crypto exchange and non-fungible token partner. FTX and Monumental Sports…