Monday, May 27, 2024
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Blocknative to Suspend MEV-Boost Relay After Economics Fail to ‘Materialize’

“What started out as an economically interesting opportunity turned into not a very economically interesting opportunity,” Cutler said. “We made a bunch of efforts that are still ongoing, both publicly and privately, to try to introduce economic incentives at the relay layer, but those didn't really materialize.” Original Source

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Indonesia Introducing New National Payment System to Protect Against ‘Geopolitical Consequences’ – Economics Bitcoin News

Indonesia is introducing a new national payment system as the country furthers its de-dollarization efforts and protection against “possible geopolitical consequences.” The new payment system will replace Visa and Mastercard in state-owned institutions and companies, a top central bank official said. “We expect that very soon it will become widespread.” Indonesia

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BRICS Nations Discuss Expansion Plan as Membership Interest Grows – Economics Bitcoin News

The BRICS countries are developing guidelines in response to increasing demand from countries seeking to join, according to South Africa’s Foreign Affairs Minister Naledi Pandor. “BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can

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US Dollar’s Importance Declining in International Transactions and as Reserve Currency, Economist Says – Economics Bitcoin News

A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in international trade and as a reserve currency has been declining. “Other currencies have been getting more important in international transactions and as reserve currencies,” he stressed. Economist Highlights Rising De-Dollarization Trend Canadian economist

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Bangladesh and India to Trade in National Currencies Due to US Dollar Liquidity Issues – Economics Bitcoin News

Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting the flow of imports

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Iraq Issues Ban on US Dollar Transactions to Bolster Usage of Iraqi Dinar – Economics Bitcoin News

The government of Iraq issued a ban on using the U.S. dollar for conducting business transactions on May 14. The ban, which is already in effect, is designed to bolster the usage of the Iraqi dinar, the fiat currency of the country, and to reduce the influence of the dollar

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