Oil prices spiked 5 percent Wednesday after disruptions to Kazakh crude exports and growing apprehension regarding European Union sanctions on Russian energy imports as the U.S. president meets with counterparts on the continent amid worsening conflict in Ukraine. Brent has since stabilized after opening Thursday at $117.20 a barrel and trading at $117.58 as of…
Market Pulse: Oil Prices Spike After Kazakh Supply Disruption and Uncertainties in Europe, Dollar and Ruble Gain
March 24, 2022
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Australian Government To Approve Cryptocurrency Platforms
The Australian government has set its sights on the country’s cryptocurrency market in what is expected to be one of the most significant sets of reforms to the country’s payment system in over 25 years. The government is now seeking industry feedback to develop a “tick of approval” for cryptocurrency exchanges—the platforms responsible for connecting…
UK Regulators Shut Down Bitcoin Cashpoints
The United Kingdom ordered on Friday the shutting down of its cryptocurrency cashpoints after financial regulators declared these installations illegal. The Financial Conduct Authority (FCA), a non-government regulatory body that operates in the UK, declared on Friday that these “cryptocurrency ATMs” are illegal as they currently stand, and must be approved by the FCA and…
Canada Sends Quebec Man to United States to Face Ransomware Charges
A Quebec man has been extradited to the United States to face charges in Florida arising from alleged participation in an elaborate ransomware operation. Following a request from U.S. authorities, Sebastien Vachon-Desjardins was arrested in Gatineau, Que., in January of last year. Police executed a search warrant at his home, seizing 719 Bitcoin valued at…
Biden’s Crypto EO Weighs Climate Change, Ponders Digital Dollar
March 10, 2022
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President Joe Biden’s Wednesday executive order on cryptocurrency outlines a range of new policy objectives and measures, including language on the climate-related effects of cryptocurrencies and on the potential for a U.S. central bank digital currency (CBDC). “We must take strong steps to reduce the risks that digital assets could pose to … climate change and…
Like China, Russia Will Use Digital Cash to Evade US Sanctions
Commentary Unless you happen to live under a rock, you are no doubt aware that the Chinese Communist Party (CCP) has rolled out its own digital currency, the digital yuan. Designed to directly compete with the U.S. dollar, the digital yuan was also designed for another reason—to evade U.S. sanctions, according to experts. Another country that has…
‘Crypto Winter’: Ethereum Co-Founder Vitalik Buterin Celebrates Bear Market
The cryptocurrency sector enduring a potential bear market is welcoming news, says Vitalik Buterin, the co-founder of the Ethereum blockchain. Speaking in a recent interview with Bloomberg, Buterin purports that the industry would benefit from entering another “crypto winter.” So far this year, token prices have experienced an immense slide. “The people who are deep…
FBI to Form Cryptocurrency Unit, Focusing on Seizure of Virtual Assets: DOJ
The FBI is forming a new team dedicated to cryptocurrency, confirmed the Department of Justice on Thursday. Eun Young Choi, a prosecutor with a background in cybercrimes, will be tapped as the National Cryptocurrency Enforcement Team’s (NCET) first director, the agency said. “The department has been at the forefront of investigating and prosecuting crimes involving digital…
As Crypto Rises, Some Bemoan Its Carbon Footprint
February 11, 2022
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In the years since the still-anonymous ‘Satoshi Nakamoto’ created the first cryptocurrency, Bitcoin, crypto has proven to be polarizing. Proponents argue that cryptocurrencies offer a transparent alternative to fiat currencies like the dollar. Crypto transactions are permanently recorded on a decentralized ledger known as a blockchain, making them potentially resistant to censorship. For political dissidents,…
Why Bitcoin Looks Ready for Blast-Off
Bitcoin was trading almost 3 percent higher on Thursday as it attempted to bust up through a resistance area at the $45,814.61 level. The cryptocurrency market has been on an upswing in recent weeks after apex cryptos Bitcoin and Ethereum hit bottom on Jan. 24 at the $32,933.33 and $2,159 mark, respectively. The current trend looks set to…
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