Zimbabwe central bank ironing out wrinkles in new currency
The new currency, an outgrowth of the government’s gold-backed token, is performing well economically but receiving mixed public reviews. Go to Source
Black Market
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‘Panic of 2023’: James Corbett Explains How Bank Crisis Could Lead to CBDC ‘Nightmare of Total Monetary Control’
Investigative journalist James Corbett has recently referred to the ongoing global banking crisis involving SVB, Signature Bank, Credit Suisse and others as the “Panic of 2023,” drawing comparisons to what he views as historical precedents, and pointing ahead to an inevitable and bleak, technocratic surveillance future leveraging central bank digital currencies (CBDCs) should nothing be … Read more
Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings
On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks froze Lebanese bank accounts, and a number of branches have remained closed indefinitely. The deprivation of wealth has caused a few impoverished … Read more
Crypto scammers are using black market identities to avoid detection: CertiK
The blockchain security firm has uncovered a new tactic used by crypto scammers as the industry continues to improve its fraud detection capabilities. Go to Source Powered by WPeMatico
Report: Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira’s Rapid Depreciation
Nigeria’s Economic and Financial Crimes Commission (EFCC) recently claimed it had identified individuals and organizations whose rapid accumulation of U.S. dollars recently accelerated the depreciation of the local currency, a report said. According to Abdulrasheed Bawa, the EFCC chairman, his organization is currently going after foreign currency speculators in Kano, Lagos, Port Harcourt, Enugu, and … Read more
NFT utility to remedy ticketing dilemmas? Experts weigh-in
The biggest pain points in events ticketing could prove to be a flagship use case of blockchain-based nonfungible tokens, according to industry leaders. Go to Source Powered by WPeMatico
Nigerian Central Bank Threats Force Parallel Exchange Rate Tracker to Suspend Service
Following threats from the Central Bank of Nigeria (CBN), the management of Abokifx, a website that tracks the Nigerian currency’s black market exchange rates, has announced the suspension of their daily updates. This suspension will remain in effect until Abokifx gets “better clarity of the situation,” management said on September 17, 2021. Tracking of Parallel … Read more
Nigeria’s Naira Loses Ground on Forex Black Market Just a Few Days After Devaluation
The Nigerian naira currency lost further ground against major currencies after it depreciated to 493 nairas for one dollar on the black market on May 25, 2021. Before the latest depreciation, the currency had stabilized at around 485 nairas to the dollar. This was shortly after the exchange rate dropped to a three and a … Read more
Nigeria Devalues Currency as Central Bank Moves to Unify Exchange Rates
In a possible policy shift, the Central Bank of Nigeria (CBN) recently allowed the local naira currency to briefly drop to a new low of USD$1 for 419.75 nairas on May 14, 2021. However, by close of business the naira had recovered and was trading around 411.25. Before the latest adjustment, the naira had fluctuated … Read more
Indian Doctors Warn of Illegal Covid-19 Vaccine Sales for Bitcoin: Citizens Urged to Wait for Government Approved Vaccine
Indian doctors have warned that the sale of unauthorized Covid-19 vaccines on the black market, where vendors ask for bitcoin as payment, is illegal. According to the doctors, the unsanctioned marketing of the vaccine to the elite is prevalent in the state of Karnataka. Some doctors say the Indian government must intervene by tracking down … Read more
