Thailand’s oldest bank is unable to acquire the country’s largest local cryptocurrency exchange due to stringent crypto regulations. As reported by Cointelegraph in November 2021, SCB X Group, a subsidiary of Siam Commercial Bank (SCB), was set to acquire a 51% stake in Bitkub by the second quarter of 2022 as part of a plan to
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Foreign secretary Liz Truss on Thursday slammed Tory leadership rival Rishi Sunak as “the continuity economic policy candidate”, claiming he took the UK economy in the “wrong direction” when he was chancellor. In a sign of the gloves-off nature of the final contest to become leader of the Conservative party, Truss promised to hold an
Apathetic Nigerian lenders are frustrating the e-naira’s adoption because they are worried this could deprive them of a key revenue source, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has said. Emefiele said the central bank is working on a channel that would enable Nigerians without bank accounts to open e-naira wallets. E-Naira Undercuts
This article is an online version of our Inside Politics newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday. It took five ballots but she got there eventually: Liz Truss has secured the all-important second slot alongside Rishi Sunak. The two politicians are now gunning for support from Conservative
Italian prime minister Mario Draghi has resigned, ending a national unity government formed to tackle unpopular reforms and spelling trouble for Europe at a time of acute economic challenges. In a statement, President Sergio Mattarella’s office on Thursday said that Draghi would remain in charge of current affairs. Mattarella is now expected to dissolve parliament
According to Visual Capitalist, Ghana is now placed second on its list of countries with the highest default risk in 2022. Only four countries, namely, Ukraine 10,856 basis points (bps), Argentina (4,470), El Salvador (3,376), and Ethiopia (3,035) have a credit default swap spread that is higher than Ghana’s at 2,071 bps. El Salvador Has
The Asian Development Bank has cut its growth forecast for China due to concerns over the country’s zero-Covid approach and strict lockdowns, which put even more pressure on the real estate sector. Gross domestic product growth for the world’s second largest economy is expected to be at 4% in 2022, down from an earlier estimate
Cybersecurity specialists have welcomed a new trial by the Australian Competition and Consumer Commission (ACCC) to automatically take down scam websites. The trial saw dozens of scam sites, including crypto scams, knocked offline after more than 300 were reported. The ACCC reported that Australians had lost $113 million in cryptocurrency scams last year. The new trial
Criminals that used cryptocurrency as part of committing a crime are more likely to receive a tougher sentence in Australian courts, a new study has found. The study, titled “Crime and Cryptocurrency in Australian Courts,” published on Monday in the Monash University Law Review, found that the use of cryptocurrency in criminal activity was seen
German investment platform Trade Republic and digital asset exchange Crypto.com have registered as crypto service providers in Italy. Since February, the financial authorities in Rome maintain a registry for all cryptocurrency platforms permanently operating in the country. More Companies Register as Providers of Crypto Services in Italy Germany-based investment platform Trade Republic and Singapore-headquartered digital
The African continent may not be the biggest crypto/blockchain market yet but the growing adoption of the technology illustrates that this will likely be a key market in the future. For instance, instead of being seen or used as a tool for speculative trading, crypto is proving to be a more convenient and cheaper way
The 350m Lotus Tower that looms over the skyline in Sri Lanka’s capital Colombo is one of the tallest buildings in South Asia. Funded by a Chinese state bank and designed to look like a giant lotus bud about to burst into flower, it was intended to be a metaphor for the flourishing of Sri
Years ago, after I received some negative feedback at work, my husband Laurence told me something that stuck with me: when we receive criticism, we go through three stages. The first, he said, with apologies for the language, is, “Fuck you.” The second is “I suck.” And the third is “Let’s make it better.” I
The U.S. Department of Justice (DOJ) has seized $500K in ransom payments and cryptocurrency from a state-sponsored North Korean group. “We are returning the stolen funds to the victims,” Deputy Attorney General Lisa O. Monaco said, adding that the seized funds include ransoms paid by health care providers in Kansas and Colorado. DOJ Seizes Crypto
Crypto industry experts are largely unfazed by Tesla’s decision to sell 75% of its Bitcoin (BTC) holdings, saying it’s a fairly typical strategy for companies to improve cash flow during economic slowdowns. On Wednesday, the electric vehicle manufacturer revealed that it had sold 75% of its Bitcoin holdings in Q2, adding $936 million in fiat
Grayscale Investments has explained that there may be another 250 days of the current bearish crypto market, citing patterns in previous cycles. In addition, “Bitcoin is 222 days off the all-time high, which means we may see another 5-6 months of downward or sideways price movement,” the world’s largest digital asset manager detailed. Grayscale’s Crypto
Tesla has converted approximately 75% of its bitcoin into fiat currency. The cryptocurrency sales left the electric car company holding digital assets worth $218 million. “We are certainly open to increasing our bitcoin holdings in the future,” Tesla CEO Elon Musk said, adding: “We have not sold any of our dogecoin.” Tesla Sold About 75%
Simone Mazzuca is the creator of EURST – the first representative euro stablecoin, 100% asset backed with US Dollars and live audited. EURST is providing one of the most secure and reliable stablecoin structures on the euro market to serve as a bridge to the digital economy. Mr. Simone Mazzuca is the Director and Founder
United Airlines reported its highest-ever second-quarter revenue and had its first profitable quarter since the onset of the Covid-19 pandemic, the carrier said on Wednesday. The Chicago-based airline, the second largest in the US, reported net income of $329mn on operating revenue of $12.1bn. Revenue was up 6 per cent compared with the March to
With the transition to a scalable, energy-light proof-of-stake blockchain at play for Ethereum, many have cast doubts on the popular coin’s future, given the magnitude and complexity of the Merge upgrade. But, among prominent stakeholders, one particular project remains heavily bullish on Ethereum’s future, which is none other than layer-two scaling solution Polygon. At the