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Threats to US Dollar’s Dominance Largely Domestic — Not BRICS Currency or Chinese Yuan – Economics Bitcoin News

Bank of America has warned that the key threats to the U.S. dollar’s dominance are largely domestic, as opposed to competition from other currencies, including a BRICS currency. “U.S. fiscal brinkmanship, with risks for government shutdown, or even worse a default, keeps coming up during debt ceiling discussions,” the bank’s

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South Korea launches ‘Metaverse Fund’ to expedite domestic initiatives

While some global economies got distracted by the commotion around price instability and ecosystem collapses in crypto, South Korea doubled down on the metaverse’s potential as a new economic growth engine.South Korea’s Ministry of Science and ICT announced investments in a fund dedicated to driving metaverse initiatives in the country. According

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Huobi Korea Plans to Cut Ties With Parent Company, Strengthen Domestic Presence – Bitcoin News

According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange and change its name. Huobi Experiences Significant Withdrawals as Subsidiary

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Marshall Islands legally recognizes DAOs as domestic limited liability companies

The Republic of the Marshall Islands, an independent island state located in the Pacific Ocean near the Equator, has announced that the Decentralized Autonomous Organizations Act of 2022 has officially been passed into law.The law recognizes decentralized autonomous organizations and enables legal entities registered in the country to formally adopt

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Bank of Russia backs cross-border crypto payments vs. domestic trade

Russia’s central bank governor Elvira Nabiullina is the latest official to confirm that the country is warming to the idea of cryptocurrency payments, but not domestic ones.According to Nabiullina, cryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system.The digital currency

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South Korea’s Crypto Firms Leave the Country Due to Tough Domestic Regulations

As reported by BusinessKorea, one of South Korea’s leading business news portal, a new trend of South Korean blockchain projects listing their crypto ventures on foreign exchanges has started to increase significantly in magnitude. Overseas exchanges have now started focusing on the Korean won market to attract more blockchain initiatives

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