Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n
This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n
Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Russia plans to issue a Central Bank Digital Currency<\/a> (CBDC), the digital ruble, in mutual settlements with China. Anatoly Askakov provides a remarkable viewpoint in how this cryptocurrency will improve trade settlements in Russia amidst economic sanctions.<\/p>\n\n\n\n See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Some economic analysts believe the U.S. economy is already starting to see signs of a slowdown and according to them, many companies could face liquidity problems in the upcoming months. High rates encourage saving over spending and make the debt more costly, and companies that have a bigger credit or other loans with variable interest rates could be in a difficult situation. Higher borrowing costs can hurt corporate profits and discourage businesses from borrowing to invest in new projects, which can hurt economic activity and job creation.<\/p>\n","post_title":"Major Chip And Tech Stocks Drive Down S&P 500 And Nasdaq","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"major-chip-and-tech-stocks-drive-down-sp-500-and-nasdaq","to_ping":"","pinged":"","post_modified":"2024-07-24 13:41:01","post_modified_gmt":"2024-07-24 03:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17874","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7466,"post_author":"7","post_date":"2022-09-29 18:13:14","post_date_gmt":"2022-09-29 08:13:14","post_content":"\n Russia plans to issue a Central Bank Digital Currency<\/a> (CBDC), the digital ruble, in mutual settlements with China. Anatoly Askakov provides a remarkable viewpoint in how this cryptocurrency will improve trade settlements in Russia amidst economic sanctions.<\/p>\n\n\n\n See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
At the same time rising geopolitical angst, especially in the U.S., put a damper on global growth expectations. It is important to mention that 27% of portfolio managers expect weaker economic growth in the coming year. This compared to 6% in June and 9% in May and was in sharp contrast to April, where a net 11% of managers looked for stronger world growth.<\/p>\n\n\n\n Some economic analysts believe the U.S. economy is already starting to see signs of a slowdown and according to them, many companies could face liquidity problems in the upcoming months. High rates encourage saving over spending and make the debt more costly, and companies that have a bigger credit or other loans with variable interest rates could be in a difficult situation. Higher borrowing costs can hurt corporate profits and discourage businesses from borrowing to invest in new projects, which can hurt economic activity and job creation.<\/p>\n","post_title":"Major Chip And Tech Stocks Drive Down S&P 500 And Nasdaq","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"major-chip-and-tech-stocks-drive-down-sp-500-and-nasdaq","to_ping":"","pinged":"","post_modified":"2024-07-24 13:41:01","post_modified_gmt":"2024-07-24 03:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17874","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7466,"post_author":"7","post_date":"2022-09-29 18:13:14","post_date_gmt":"2022-09-29 08:13:14","post_content":"\n Russia plans to issue a Central Bank Digital Currency<\/a> (CBDC), the digital ruble, in mutual settlements with China. Anatoly Askakov provides a remarkable viewpoint in how this cryptocurrency will improve trade settlements in Russia amidst economic sanctions.<\/p>\n\n\n\n See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
As U.S. election concerns gained prominence, fund managers were asked which policy areas they believe will be most affected by the November election. Of those polled this month, \u201ctrade policy is viewed as the most likely area to be impacted by the US election per 48% of FMC investors, followed by immigration (15%), and geopolitics,\u201d BofA Global Research said.<\/p>\n\n\n\n At the same time rising geopolitical angst, especially in the U.S., put a damper on global growth expectations. It is important to mention that 27% of portfolio managers expect weaker economic growth in the coming year. This compared to 6% in June and 9% in May and was in sharp contrast to April, where a net 11% of managers looked for stronger world growth.<\/p>\n\n\n\n Some economic analysts believe the U.S. economy is already starting to see signs of a slowdown and according to them, many companies could face liquidity problems in the upcoming months. High rates encourage saving over spending and make the debt more costly, and companies that have a bigger credit or other loans with variable interest rates could be in a difficult situation. Higher borrowing costs can hurt corporate profits and discourage businesses from borrowing to invest in new projects, which can hurt economic activity and job creation.<\/p>\n","post_title":"Major Chip And Tech Stocks Drive Down S&P 500 And Nasdaq","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"major-chip-and-tech-stocks-drive-down-sp-500-and-nasdaq","to_ping":"","pinged":"","post_modified":"2024-07-24 13:41:01","post_modified_gmt":"2024-07-24 03:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17874","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7466,"post_author":"7","post_date":"2022-09-29 18:13:14","post_date_gmt":"2022-09-29 08:13:14","post_content":"\n Russia plans to issue a Central Bank Digital Currency<\/a> (CBDC), the digital ruble, in mutual settlements with China. Anatoly Askakov provides a remarkable viewpoint in how this cryptocurrency will improve trade settlements in Russia amidst economic sanctions.<\/p>\n\n\n\n See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
A recent BofA global research survey also showed that world investors remain bullish, with sentiment fueled by Federal Reserve rate cuts expected this year and into 2025. Inflation projections continued to stabilize in July, with 62% of investors now expecting lower CPI over the next 12 months, up from 57% in June and 56% in May.<\/p>\n\n\n\n As U.S. election concerns gained prominence, fund managers were asked which policy areas they believe will be most affected by the November election. Of those polled this month, \u201ctrade policy is viewed as the most likely area to be impacted by the US election per 48% of FMC investors, followed by immigration (15%), and geopolitics,\u201d BofA Global Research said.<\/p>\n\n\n\n At the same time rising geopolitical angst, especially in the U.S., put a damper on global growth expectations. It is important to mention that 27% of portfolio managers expect weaker economic growth in the coming year. This compared to 6% in June and 9% in May and was in sharp contrast to April, where a net 11% of managers looked for stronger world growth.<\/p>\n\n\n\n Some economic analysts believe the U.S. economy is already starting to see signs of a slowdown and according to them, many companies could face liquidity problems in the upcoming months. High rates encourage saving over spending and make the debt more costly, and companies that have a bigger credit or other loans with variable interest rates could be in a difficult situation. Higher borrowing costs can hurt corporate profits and discourage businesses from borrowing to invest in new projects, which can hurt economic activity and job creation.<\/p>\n","post_title":"Major Chip And Tech Stocks Drive Down S&P 500 And Nasdaq","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"major-chip-and-tech-stocks-drive-down-sp-500-and-nasdaq","to_ping":"","pinged":"","post_modified":"2024-07-24 13:41:01","post_modified_gmt":"2024-07-24 03:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17874","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7466,"post_author":"7","post_date":"2022-09-29 18:13:14","post_date_gmt":"2022-09-29 08:13:14","post_content":"\n Russia plans to issue a Central Bank Digital Currency<\/a> (CBDC), the digital ruble, in mutual settlements with China. Anatoly Askakov provides a remarkable viewpoint in how this cryptocurrency will improve trade settlements in Russia amidst economic sanctions.<\/p>\n\n\n\n See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n See Related:<\/em><\/strong> Coinbase Is Funding a Lawsuit Against The US Treasury Over Tornado Cash Sanctions<\/a><\/p>\n","post_title":"Iran Adopts Crypto For Foreign Trade To Bypass Sanctions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"iran-adopts-crypto-for-foreign-trade-to-bypass-sanctions","to_ping":"","pinged":"","post_modified":"2022-09-17 17:37:29","post_modified_gmt":"2022-09-17 07:37:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7165","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
A recent BofA global research survey also showed that world investors remain bullish, with sentiment fueled by Federal Reserve rate cuts expected this year and into 2025. Inflation projections continued to stabilize in July, with 62% of investors now expecting lower CPI over the next 12 months, up from 57% in June and 56% in May.<\/p>\n\n\n\n As U.S. election concerns gained prominence, fund managers were asked which policy areas they believe will be most affected by the November election. Of those polled this month, \u201ctrade policy is viewed as the most likely area to be impacted by the US election per 48% of FMC investors, followed by immigration (15%), and geopolitics,\u201d BofA Global Research said.<\/p>\n\n\n\n At the same time rising geopolitical angst, especially in the U.S., put a damper on global growth expectations. It is important to mention that 27% of portfolio managers expect weaker economic growth in the coming year. This compared to 6% in June and 9% in May and was in sharp contrast to April, where a net 11% of managers looked for stronger world growth.<\/p>\n\n\n\n Some economic analysts believe the U.S. economy is already starting to see signs of a slowdown and according to them, many companies could face liquidity problems in the upcoming months. High rates encourage saving over spending and make the debt more costly, and companies that have a bigger credit or other loans with variable interest rates could be in a difficult situation. Higher borrowing costs can hurt corporate profits and discourage businesses from borrowing to invest in new projects, which can hurt economic activity and job creation.<\/p>\n","post_title":"Major Chip And Tech Stocks Drive Down S&P 500 And Nasdaq","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"major-chip-and-tech-stocks-drive-down-sp-500-and-nasdaq","to_ping":"","pinged":"","post_modified":"2024-07-24 13:41:01","post_modified_gmt":"2024-07-24 03:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17874","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7466,"post_author":"7","post_date":"2022-09-29 18:13:14","post_date_gmt":"2022-09-29 08:13:14","post_content":"\n Russia plans to issue a Central Bank Digital Currency<\/a> (CBDC), the digital ruble, in mutual settlements with China. Anatoly Askakov provides a remarkable viewpoint in how this cryptocurrency will improve trade settlements in Russia amidst economic sanctions.<\/p>\n\n\n\n See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7165,"post_author":"7","post_date":"2022-09-17 17:34:46","post_date_gmt":"2022-09-17 07:34:46","post_content":"\n Iran is one of the first countries to adopt cryptocurrency for foreign trade after recent financial sanctions have impeded the country\u2019s involvement in the global economy. <\/p>\n\n\n\n Iran has faced several financial sanctions that restricted its participation in the global economy for many years. Their renewed interest in cryptocurrency is surprising despite Iran\u2019s central bank\u2019s ban on trading crypto in 2019<\/a>. The ban came due to the vast amount of power mining cryptocurrencies consume, resulting in widespread blackouts<\/a>. Yet, with prevailing sanctions from the United States, the Trade Ministry resolved to renew interest in cryptocurrency to conduct business transactions in the country.<\/p>\n\n\n\n Earlier in the year, Iran announced that it allowed local businesses to use cryptocurrencies to settle cross-border transactions. The former Minister of Industry, Mine, and Trade, Alireza Peyman-Pak, spoke on the opportunities this new trading system will positively impact Iran\u2019s economy. He said: \"All economic actors can use these cryptocurrencies. Since the cryptocurrency market is on credit, our economic actors can easily use it wisely.\u201d<\/p>\n\n\n\n The joint action of the Central Bank of Iran and the Ministry of Trade to fully adopt cryptocurrency began in August 2022. Reports<\/a> claim that a $10 million order was settled using crypto. The new Minister of Trade, Reza Farami Amin, reports that the ministry recently approved regulations regarding cryptocurrency trade.<\/p>\n\n\n\n This new strategy increases economic activities for local and international businesses in Iran. The effectiveness of this new trade strategy is still a question since most countries do not consider crypto as an official payment method. <\/p>\n\n\n\n Finally, Iran has two choices. Iranian companies can use proxy companies to convert crypto into fiat for other countries that are \u201ccrypto-friendly.\u201d They can also choose to trade with countries that do business in crypto, like China, Russia, and Turkey.<\/p>\n\n\n\n
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Investors And BofA Global Research <\/h2>\n\n\n\n
