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Chinese credit agency puts US sovereign rating on par with Turkmenistan

One of the largest ratings firms in China, Dagong Global Credit Rating, has cut the US sovereign rating from A- to BBB+. That puts the American economy on par with Peru, Colombia and Turkmenistan. “Deficiencies in the current US political ecology make it difficult for the efficient administration of the federal government, so the national […]

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Cryptocurrencies may disappear but technology behind them will remain – Medvedev

Virtual currencies are a new challenge for governments and businesses and could soon disappear, but the technology they are based on might remain, as happened with the internet, said Russian Prime Minister Dmitry Medvedev. Read more During his speech at the Gaidar Economic Forum in Moscow, Medvedev said that theorists had predicted the emergence of […]

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Another BRICS country cracks down on virtual currencies

Brazil has joined fellow BRICS members China and India in taking a tough line on cryptocurrencies by banning them from the country’s financial markets. Read more The South American country’s securities regulator has prohibited local investment funds from buying digital cash, Reuters reports. Cryptocurrencies cannot be considered financial assets, the regulator ruled. Earlier in December, […]

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Bitcoin crashes to 6-week low as regulator crackdown escalates

The price of top digital currency bitcoin dipped below $ 12,000 on Tuesday for the first time since December 5, following reports of a further crackdown on the cryptocurrency market. Bitcoin slumped by almost 15 percent, trading at $ 11,816 as of 10:30am GMT. The cryptocurrency’s market capitalization currently stands at around $ 198 billion. […]

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Beijing wants to kick bitcoin out of China

Chinese authorities are reportedly aiming to completely ban centralized trading of virtual currencies as well as individuals and businesses that provide related services. Read more According to an internal memo from a government meeting seen by Reuters, Beijing will continue to apply pressure to the virtual currency trade and prevent the growth of risks in […]

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French group demands Russia repay €53bn imperial debt

A group of French citizens holding eurobonds issued by the Russian Empire in the 19th century is demanding the Kremlin repay the debt, says a report by Radio France Internationale (RFI). Read more In 1867, Russian Railways launched government bonds guaranteed by gold. They were worth a total of 15 billion francs, the equivalent of […]

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Bitcoin bubble could burst & it would be no big deal – report

The surge of bitcoin has been raising fears that it could be approaching bubble territory. Analysis from Capital Economics, however, says its crash wouldn’t be that big of a deal for the broader financial markets. Read more “Unlike the bubbles in the tech sector in the late 1990s and in US residential property a few […]

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With 80% of bitcoin mined, fears rise it will become another fiat currency

As bitcoin gets closer to its 21-million-unit limit, enthusiasts say buying the cryptocurrency will gradually become much harder, making it more valuable. Others say it will stop being decentralized. Over 16,800,000 BTC have been mined as of January 13. It is impossible to predict when all the 21 million will have been mined. Some are […]

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Germany to include Chinese yuan in currency reserves

Germany’s central bank has decided to add the Chinese currency to its foreign exchange reserves, according to Bundesbank board member Andreas Dombret. The move could further boost the international status of the yuan. Read more Speaking at a finance forum on Monday, he said the decision was taken last year after the European Central Bank […]

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