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According to a VanEck report, China and Russia have begun settling some trade transactions using Bitcoin. VanEck’s Head of Digital Assets Research, Matthew Sigel, reports that the two BRICS nations have already begun settling some energy transactions in Bitcoin and other digital assets. This comes as the Trump administration’s tariff policy has reignited global trade tensions. China and Russia have already worked on trade deals with one another without the US dollar. Now however, with economic concerns spreading worldwide, the two countries have attempted to ditch fiat altogether. Sigel also shared that Bolivia has announced plans to import electricity using crypto. French energy utility EDF is also exploring whether it can mine Bitcoin with surplus electricity currently exported to Germany. “These are early signs that Bitcoin is evolving from a speculative asset into a functional monetary tool—particularly in economies looking to bypass the dollar and reduce exposure ...

1. Reuters: Russia Uses Cryptocurrency in Oil Trade with India to Evade Western Sanctions link Insiders have disclosed that Russia is employing cryptocurrencies in its oil trade with India so as to evade Western sanctions. Some Russian oil companies are making use of cryptocurrencies such as BTC, ETH, and USDT to convert Indian rupees into Russian rubles. According to the insiders, even if the United States lifts the sanctions against Russia in the future and dollar transactions are restored, the Russian oil trade is likely to persist in using cryptocurrencies, for it represents a convenient instrument that contributes to accelerating the transaction process. 2. Singapore Exchange to Launch Bitcoin Perpetual Futures Contracts link The Singapore Exchange (SGX) plans to introduce Bitcoin perpetual futures contracts in the second half of 2025, further expanding the traditional exchange’s presence in the cryptocurrency derivatives market. A spokesperson for the SGX stated via email that th...

Ripple XRP is on a surge over the last 24 hours, climbing 20% on the day and also climbing the cryptocurrency market cap chart. Ripple Labs’ native cryptocurrency indeed surpassed Binance Coin (BNB) to become the fifth largest cryptocurrency in the world by market cap. At press time, XRP’s market cap now sits at $96.99B, up 17% today. https://twitter.com/WatcherGuru/status/1862530386997252551 The Ripple coin is still far behind Solana Labs’ SOL token for fourth place in the market cap rankings. XRP has outperformed almost all of its altcoin adversaries this month, rising over 220% in the past month. While Bitcoin (BTC) reigns supreme in November, XRP is giving out great returns to early investors. Additionally, the cryptocurrency has received several revised price predictions: all positive ones. Ripple XRP Flourishes Oversees Another big contributor to Ripple XRP’s recent success has come from overseas. The Russian government has taken a significant step in digit...

Amid the ongoing digital asset embrace that the BRICS alliance has undergone over the last year, Russia has officially approved a new 15% crypto tax bill. Indeed, the legislation will implement a tax on both cryptocurrency mining and transactions while perceiving the asset as property. The move comes as another key step in Moscow’s ongoing reveal regarding the asset class. Earlier this year, the country opted to undo its ban on cryptocurrencies in international settlements. Now, it has taken steps to introduce financial obligations on traders and miners. As BRICS continues to de-dollarize, crypto is expected to play an increasing role in its economic activity. Source: Daily Sabah Also Read: This BRICS Nation is Now the Fastest Growing Economy in The G20 Russia Approves Crypto Tax Bill as BRICS Could Expand Integration For the last two years, the BRICS alliance has been a focus of geopolitics. The blco has emerged as a key challenger to the global status quo and Western hegemony. A...

1. Hong Kong’s Weekly News 1.1 Hong Kong Considers Tax Incentives for Crypto Investments link Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, announced at Hong Kong Fintech Week that virtual assets are being included in a new proposed tax incentive policy. This initiative aims to provide tax benefits for a range of asset types, including virtual assets, real estate, emissions derivatives, insurance-linked securities, interests in non-corporate private entities, and private credit investments. Hui noted that the tax incentives will primarily target institutional investors, although he did not elaborate on the specific details or requirements of the policy. 1.2 HKEX to Launch Virtual Asset Index Series link On November 15, the Hong Kong Stock Exchange (HKEX) will launch the HKEX Virtual Asset Index Series, providing a reliable benchmark price for the virtual asset category. This index series will offer transparent and dependable benchmark pricing for Bitco...

1. Russia Mined Over $3 Billion Worth of Bitcoin in 2023, Generating $556 Million in Taxes link In 2023, Russia mined approximately 54,000 Bitcoins, valued at over $3 billion, generating around 50 billion rubles ($556 million) in tax revenue for the Russian government. Bezdelov, the president of the Russian Association of Crypto Mining, believes that the recent legalization of crypto mining will attract more investors and further boost tax revenues. Previously, Russian President Putin signed a bill officially legalizing cryptocurrency mining. Only registered Russian legal entities and individual entrepreneurs are allowed to mine, though individuals below the government-set energy consumption limit can mine without registration. 2. ​Korean Financial Supervisory Service (FSS) Plans to Audit Virtual Asset Exchanges link The South Korean Financial Supervisory Service (FSS) plans to audit virtual asset exchanges to detect any suspicious or illegal transactions. If system vulnerabilities are...

A Russia -based former analyst at the US Department of Homeland Security (DHS) who became the leader of a designated neo-Nazi terror group is looking to hire a US counterpart US ing crypto . As reported by the Guardian, 51-year-old Rinaldo Nazzaro, who previously worked as a contractor for the Pentagon, posted on Telegram that he’s looking to hire a stateside leader for his paramilitary group, The Base.   The Base follows white nationalist and accelerationist ideologies and was designated as a terrorist group in the UK, Australia, New Zealand, Canada, and European Union. The group believes in white ethnostates and encourages terrorism and violent measures to achieve its aims.  Nazzaro offered to pay the new hire $1,200 a month which will be funded by him and through monthly donations in bitcoin and Monero. The group is expected to recruit and manage up to 12 members in preparation for a supposed US civil war or societal collapse. No one surprised as DJT token has finally ru...

BRICS member Russia is looking to take support from North Korea in its fight against the US hegemony. Russian President Vladimir Putin visited North Korea on Wednesday and the two countries signed a strategic partnership vowing closer ties in rivalry with the US. The development indicates that North Korea will come to Russia’s aid if the US presses further sanctions against the country. Also Read: Russia Makes Major Announcement About BRICS Currency JUST IN: Russian President Putin and North Korea's Kim Jong-un sign new strategic partnership agreement. pic.twitter.com/rS0XQc0A7X — BRICS News (@BRICSinfo) June 19, 2024 BRICS: North Korea & Russia Vow To Fight US Imperialism & Hegemony Source: AP The strategic partnership between North Korea and BRICS member Russia mentions the US as an “imperialist” and “hegemonic” nation. The agreement also specifies that Russia and North Korea must combinedly fight the US ...

American token sale platform CoinList has agreed to pay $1.2 million to settle charges from the U.S. Department of Justice’s enforcement branch. According to a statement published by the Treasury Department’s Office of Foreign Assets Control (OFAC) on Dec. 13, 2023, the San Francisco-headquartered firm has agreed to pay $1,207,830 to settle “potential civil liability” arising from processing nearly 1,000 transactions on behalf of entities located in sanctioned Crimea between April 2020 and May 2022. The regulator says CoinList‘s screening procedures “failed to capture users who represented themselves as resident of a non-embargoed country but who nevertheless provided an address within Crimea.” For instance, CoinList allowed registering 89 users, who had specified Russia as their country of residence, providing addresses in Crimea upon account opening as well. You might also like: CommEX, platform that acquires Binance Russia, will offe...

A BRICS common currency will be challenging to initiate and maintain, though efforts to dethrone the US dollar could have an impact on Bitcoin, says investment strategist Lyn Alden. Macroeconomist Lyn Alden has cast doubt on a proposal that would see five countries work together to develop a common BRICS currency — arguing it will likely struggle to get off the ground and fail to dethrone the United States dollar. In an interview with Cointelegraph just days before the BRICS annual summit in South Africa, Alden explained that it will be “very hard” for BRICS members — Brazil, Russia, India, China and South Africa — to form a gold-backed currency for widespread use. Russian President Vladimir Putin first announced that BRICS proposal to create an international reserve currency at the BRICS summit in 2022 to rival the U.S. dollar as the global reserve standard. This proposal was later confirmed to come in the form of a gold-backed currency. However, Alden argued the model is flawed. ...