Category: Currency
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SEC Cracks Down On Digital Currency Group: $38 Million Civil Penalty For ‘Misleading Investors’
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The U.S. Securities and Exchange Commission (SEC) has initiated formal cease-and-desist proceedings against venture capital firm Digitalcurrency Group (DCG) for its alleged negligent conduct in connection with its subsidiary’s lending program. Genesis Global Capital (GGC). The action arises from findings that the cryptocurrency group “misled investors” about the financial health…
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Currency Exchange International to Report its 2024 Fourth Quarter and Fiscal Year End Results on January 22, 2025, and Host Earnings Conference Call on January 23, 2025 at 8:30 AM EST
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Article content TORONTO, January 15, 2025 (GLOBE NEWSWIRE) — currencyexchangeinternational,a company(the“a company”)(TSX: CXI;Otcp: Cairn)will announce its financial results for the fourth quarter and the end of the fiscal year 2024 (ending October 31, 2024) after the market close on Wednesday, January 22, 2025. After the release, Currency Exchange International Corp.…
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Could Germany’s Bitcoin Push Set A New Standard In Digital Currency?
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German policymakers are stepping up efforts to integrate blockchain and Bitcoin into their financial system. At a recent roundtable on blockchain hosted by Fraktion der Freien Demokraten and Frank Schäffler, MPs and experts explored some of the key proposals that could help the government achieve its goal. the Round table…
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Travelling internationally? How to order foreign currency ahead of time.
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Do you have a big international trip on the horizon? Before you go, consider converting some of your money into the local currency of your destination before you leave. Currency exchange rates at airports are often unfavorable, and you may need cash to take a taxi or grab a snack…
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Putin Reveals BRICS’ Shift Toward Digital Currency In Investment Strategy
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The adoption of cryptocurrencies was one of the main discussions among BRICS member states at a business forum held in Moscow on Friday. BRICS group The bloc (Brazil, Russia, India, China and South Africa) seeks to reduce its dependence on Western financial systems by offering an alternative payment system to…
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Putin Reveals BRICS’ Shift Toward Digital Currency In Investment Strategy
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The adoption of cryptocurrencies was one of the main discussions among BRICS member states at a business forum held in Moscow on Friday. BRICS group The bloc (Brazil, Russia, India, China and South Africa) seeks to reduce its dependence on Western financial systems by offering an alternative payment system to…
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Goldman Sachs: EUR should now be the preferred funding currency over CHF and JPY
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Goldman Sachs suggests that the euro should now be considered the financing currency of choice, especially compared to the Swiss franc and Japanese yen, given current market conditions and expectations for the currency’s performance. Key points: The company uses its market systems framework to analyze forex performance based on return…
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Inside Lebanon’s Currency Crisis: How Hyperinflation Feels
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Lebanon is back in the news as conflict intensifies in the Middle East. Before these latest developments, Lebanon had already become a symbol of how quickly a seemingly stable society can slide into chaos. If you follow major events in the global economy, you may remember that Lebanon’s recent past…
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Inside Lebanon’s Currency Crisis: How Hyperinflation Feels
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Lebanon is back in the news as conflict intensifies in the Middle East. Before these latest developments, Lebanon had already become a symbol of how quickly a seemingly stable society can slide into chaos. If you follow major events in the global economy, you may remember that Lebanon’s recent past…
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Why Chinese currency strength is a trend to watch
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USD/CNY weekly Jamie MacGyver of Reuters comes out with a good column on the conundrum China faces as it seeks to stimulate the economy. He highlights that the moves could spark a rise in the yuan and that USD/CNY may also fall with US stimulus. He cites Stephen Jin –…
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Volatility in EUR/GBP currency pair to remain supressed
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The European Central Bank and the Bank of England are likely to adopt “similar” stances on monetary policy going forward, although the BoE is expected to adopt a slightly more hawkish approach, according to analysts at UBS. In a note to clients, analysts added that the economic situation in the…
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Japan’s new ‘top currency diplomat’ Atsushi Mimura said “always watching” yen carry trade
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Atsushi Mimura is Japan’s Vice Minister of Finance for International Affairs, also known as the “top currency diplomat.” The Japanese Ministry of Finance is the authority in Japan to order intervention in the yen. Mimura took over the relevant department from Kanda, so he would be the one to direct…
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Zimbabwe’s new currency faces headwinds five months on By Reuters
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By Nyasha Chingonu HARARE (Reuters) – Five months after its launch, Zimbabwe’s new currency is under pressure as foreign reserves are eroded by rising grain imports, putting at risk the government’s plan to make it the sole currency on the market by 2026. Zimbabwe’s gold-backed Zig is the country’s sixth…
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Central bank digital currency momentum growing, study shows By Reuters
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By Mark Jones LONDON (Reuters) – A total of 134 countries representing 98% of the global economy are now considering digital versions of their currencies, with nearly half at an advanced stage and pioneers such as China, the Bahamas and Nigeria seeing a resurgence in use. Research by the US-based…
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Analysis-Sterling’s stunning rally keeps twitchy currency markets on edge By Reuters
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By Naomi Rovnick LONDON (Reuters) – Sterling hit a near 2-1/2-year high against the dollar and soared against the euro in moves analysts warned were fuelled by speculative interest rate bets that could quickly unravel in markets still shaken by the country’s turmoil in early August. Sterling has risen above…
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Analysis-After battle with yuan bears, China is now keen to avoid sharp currency gains By Reuters
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SHANGHAI (Reuters) – After spending a year trying to put a floor under the slumping yuan, China’s central bank is suddenly facing the opposite problem and is resorting to underhanded means to prevent the currency from rising sharply. The Chinese yuan, which is usually pegged, rose 1.3% against the dollar…
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China Acknowledges Digital Currency In Historic AML Law Overhaul
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The Public Prosecutor and the Supreme Court of China have issued Terms updated The country’s anti-money laundering legislation is set to include recognition of crypto transactions for the first time. The change takes effect immediately, and the main goal is to put efforts into trying to curb the Growing use…
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Japan top currency diplomat says focus is on volatility when it comes to FX
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It is recommended that currencies move in a stable manner that reflects the fundamentals. Excessive volatility increases uncertainty and reduces predictability for companies. No change in Japan’s economic outlook despite recent market volatility Monitoring the financial markets closely with a sense of urgency and calm as well. A 2,000 basis…
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Indian Rupee Becomes Second Worst Asian Currency This Quarter
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Breadcrumbs Path Links PMN Business Before the trading day begins, we provide you with a summary of the major news and events that are likely to move the markets. Today we take a look at: Article author: Bloomberg News Ashutosh Joshi and Ronojoy Mazumdar Published on August 1, 2024 •…
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Japan’s new currency diplomat keeps intervention on table to stabilise yen By Reuters
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Written by Makiko Yamazaki and Takaya Yamaguchi TOKYO (Reuters) – Japan will maintain its basic approach on the yen, with intervention remaining an option to address excessively volatile moves in the exchange rate, Atsushi Mimura, the new Japanese diplomat in charge of the currency, told Reuters. “Japan will act in…