Doubts Cast on BRICS Common Currency Proposal by Macroeconomist
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 ...
Brazilian Court Imposes Fine on Crypto Pyramid Scheme Organizer Instead of Prison
A Brazilian court has given the organizer of the crypto pyramid scheme Mirror Trading International (MTI) a monetary fine instead of the three and a half years in prison he was expecting. The court found Johann Steynberg guilty of using forged identity documents. Although Steinberg was sentenced ...
Mark Zuckerberg’s jiu-jitsu or Elon Musk’s street-fight ‘walrus’ — Who will win?
Meta founder and CEO Mark Zuckerberg has emerged as a clear favorite among betters in a proposed “cage match” with Twitter owner and Tesla CEO Elon Musk. In the 48 hours since the Mixed Martial Arts (MMA) challenge was issued by Musk, sports betting firms and odds providers hav ...
South Africa Introduces Licensing Regime for Cryptocurrency Companies
The South African Financial Sector Supervisory Authority (FSCA) has introduced a new licensing regime that requires cryptocurrency companies to be licensed to operate in the country within six months, starting June 1. The agency said the requirement is intended not only to ...
Jeffrey Sachs Predicts State Cryptocurrencies Will Replace the US Dollar in Payment Sphere
According to Jeffrey Sachs, a renowned economics professor and the director of the Columbia University Center for Sustainability, state-backed digital currencies will eventually replace the US dollar in the payment sphere. Sachs emphasized that up to 60% of foreign trade settlements are presently ...