Author: Steven Sahiounie

The Russian Central Bank has said it is prepared to allow trading firms to do international business in a controlled “experimental” environment. Per RIA Novosti, the Central Bank Governor and long-serving Vladimir Putin ally Elvira Nabiullina has come to terms with the fact that “cryptocurrency will be used in external settlements” in Russia. Nabiullina is a vehement critic of what she has labeled “private cryptoassets.” She has spoken out in favor of a ban on coins in the past, and would prefer to accelerate the launch of a digital ruble. But, in a meeting with lawmakers at the State Duma, Nabiullina said: “We adhere to…

Shiba Inu (SHIB) has become the 14th-biggest cryptocurrency by market cap, overtaking Avalanche (AVAX) as its price moved to a 24-hour high of $0.00001166 earlier this morning. SHIB’s movements today make for a 3.5% gain in the past week and a 7.5% rise in the last 30 days, with the meme token having increased by 43% since the opening of 2023. This consolidation sets the coin up nicely for further gains in the coming months, especially when it remains relatively undervalued compared to other similarly sized tokens. And with Shiba Inu also awaiting the full public launch of layer-two network…

The New York State Department of Financial Services has passed a new law that requires companies holding a BitLicense to pay assessment fees similar to insurance and banking firms. The regulation will give the NYSDFS new authority to “collect supervisory costs from licensed virtual currency businesses” under a provision in New York’s fiscal year 2023 budget, according to a Monday press release. The new legislation puts digital asset firms in the same row as insurance and banking companies, which pay assessment fees that fund the agency’s operations. The New York regulator initially proposed the assessment charges in December last year, claiming…

The Dogecoin price has dropped by 1% in the past 24 hours, with the cryptocurrency market as a whole barely moving in the same timeframe. At $0.092602, DOGE has risen by 9% in the past week and by 26% in the last 30 days, with the meme token enjoying a return of 31% since the beginning of the year. Today’s move comes as the coin’s 24-hour trading volume rises $1.5 billion, its highest level in over a week, stretching back to when its price briefly stood at $0.10. This suggests an influx of liquidity that could help the coin return…

A lesser-known but historically reliable bitcoin price indicator has flipped positive, signaling the onset of a major bull market. Bitcoin’s (BTC) reserve-risk multiple has crossed above zero, turning positive for the first time since October 2021, according to blockchain analytics firm Glassnode. The previous crossovers above zero paved the way for parabolic price rallies. “In 2012, 2013, 2015, 2019 and 2020, it resulted in gains of 2,830%, 566%, 6,400%, 99% and 487%, respectively,” on-chain analyst Ali Martinez tweeted Monday. Glassnode defines reserve risk as a long-term cyclical indicator, comparing the incentive to sell at the going market price with long-term holders resisting…

China’s economic growth accelerated in the most recent quarter as consumers returned to stores and restaurants after the abrupt end to coronavirus restrictions. Gross domestic product growth of 4.5% in the January-March period compared to the same period in 2022 was the fastest last year, and outpaced the 2.9% growth in the previous quarter, according to government data released Tuesday. But the authorities warned that China will likely face import and export pressures in the coming months amid an uncertain international economic environment, and also warned of insufficient domestic market demand in the world’s No. 2 economy. Fu Lingwei, director-general…

Today, Tuesday, the Moscow Stock Exchange index of shares denominated in rubles, MICEX, rose by 0.30%, and exceeded the level of 2,600 points, for the first time since April 11, 2022. And by 10:11 Moscow time, the MICEX index rose by 0.30% to 2603.5 points, and this came in contrast to the stock index of shares denominated in RTS dollars, which fell by 0.29% to 1001.79 points. On the currency market, the dollar traded at 81.53 rubles, an increase of 14 kopecks (rule = 100 kopecks) over the previous closing price. The euro traded at 89.29 rubles, an increase of…

Gasoline exports from Russia since the beginning of the year have grown by about 40 percent to nearly two million tons, Kommersant newspaper wrote, citing sources familiar with official data. The newspaper pointed out that the data exceeds by 5% last year’s figures, and this comes despite the current naval embargo imposed by the European Union on Russian energy supplies and the price ceiling. “Market participants increased gasoline exports by nearly 40 percent year-on-year to 1.8 million tons in three and a half months,” the paper said. The newspaper’s report also indicated that Russia, which was the main supplier of…

Oil prices rose, in trading today, Tuesday, after falling significantly yesterday, in light of the rise of the American currency index, the dollar. By 09:45 Moscow time, US West Texas Intermediate crude futures rose 0.49% to $81.23 a barrel. While Brent crude futures rose 0.54% to $85.22 a barrel, according to Bloomberg agency data. In yesterday’s trading, Monday, black gold prices fell with the rise of the dollar, amid expectations that the US Federal Reserve may raise interest rates at the next meeting in May 2023, which would undermine hopes for economic recovery. This article was originally published by RT.

China will be the largest contributor to the world’s economic growth over the next five years, with its share set to be twice that of the United States, according to the International Monetary Fund. According to a Bloomberg report based on data from the International Monetary Fund released last week, China’s contribution to global GDP growth will be 22.6%, 12.9% for India, and 11.3% for the United States. These countries are followed by Indonesia, Germany, Turkey and Japan, with each participating in less than 3.6% of the expected growth volume, and growth contributions from Brazil, Russia, India and China will…