financial system – BOL News Staging

Experts are still beating their heads over the cause of the TerraUSD crash

June 6, 2022 by Ali faizan rizvi

Celsius indicated that the only reason it withdrew its funds off the site was due to “changes in the stability”. The corporation also made it clear that it benefited in no way from the consequent insecurity. Regulators are concerned about DeFi’s impact on investors and the financial system as a whole. Cryptocurrency Experts are still … Read more

Zimbabwe’s inflation soars to 131.7%

May 25, 2022 by Ali faizan rizvi

Zimbabwe’s inflation price jumped to 131.7 percent in May, the records workplace stated Wednesday, as fallout from the Ukraine battle hit an already battered financial system. Inflation reached triple digits for the first time because June’s ultimate year with fees for cooking oil and bread jumped higher due to Russia’s invasion of Ukraine. The government last week … Read more

German business mood recovers further in May

May 23, 2022 by Ali faizan rizvi

The temper among German agencies improved in May, a key survey posted Monday confirmed, as Europe’s biggest economy weathered the first impacts of the Russian invasion of Ukraine. “The German financial system has verified itself resilient in the face of inflation concerns, material bottlenecks, and the struggle in Ukraine,” said Clemens Fuest, president of the Ifo assume … Read more

Chinese central bank executive: crypto adoption is a ‘huge challenge’

September 25, 2021September 24, 2021 by Syed Ahad

As per the warning by the Chinese central bank executive, the quick acceptance of cryptos such as Bitcoin (BTC) stances a ‘huge challenge’ for the traditional financial system. The director of the payment and settlement department at the People’s Bank of China (PBoC), Wen Xinxiang, has highlighted fears over the increasing fame of cryptos and … Read more

Russia denies to accept payments in cryptocurrency

September 7, 2021 by Syed Ahad

The government of Russia hangs onto claiming that payments in cryptocurrencies like Bitcoin (BTC) would ruin its financial system.

Dmitry Peskov, the official representative of Russian President Vladimir Putin, demanded that Russia has no motive to identify Bitcoin as legal tender.

The Kremlin representative claimed that tapping cryptocurrencies like Bitcoin in line with traditional cash instruments would take nothing but damages to the country’s financial and economic system.

Peskov reportedly declared that “Clearly, Russia is not ready for such moves,”

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