Bookmarking Crypto Insights
Auto Added by WPeMatico
Vietnamese authorities have reportedly dismantled a cross-border fraud ring involved in romance scams and fraudulent cryptocurrency schemes. Led by foreign criminals, the group operated from Laos and defrauded victims of tens of billions of dong. Key Vietnamese suspects, trained in digital deception, have been arrested for their roles in the scheme, which included using fake … Read more
A report released on May 16 highlights how increased electricity consumption due to crypto mining and inconsistent rainfall have led to power shortages in Laos, challenging its goals as a hydropower exporter in Southeast Asia. Reuters: Increased Crypto Mining Strains Laos’ Hydropower Grid Laos, often called the “battery of Southeast Asia” for its extensive hydropower … Read more
The government says the tax debt will be slashed by 50% in response to a pro-rated drop in cryptocurrency prices after the obligations were set. Go to Source
The drought that the country experienced in the first half of 2023 resulted in higher electricity demand and lower power generation capabilities from hydropower plants. Go to Source
The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This move will help them reduce their reliance on the U.S. … Read more
The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments for countries experiencing a U.S. dollar crush. India to Offer Rupee-Based Settlement Options for … Read more
The central bank of Laos has issued licenses to two cryptocurrency trading platforms. Lao Digital Assets Exchange (LDX) and Bitqik are now the only two licensed entities that can offer full brokerage and trading services in cryptocurrencies and other digital assets in the country. 2 Cryptocurrency Exchanges Authorized in Laos Laos’ central bank, the Bank … Read more
Lawmakers reportedly plan to use the extra revenue for “priority programs,” including paying down the national debt and responding to the pandemic. Go to Source Powered by WPeMatico
Soramitsu, the firm that helped build Cambodia’s Bakong digital payments system, will work with the Laos government to research what a Laotian CBDC might look like. Go to Source Powered by WPeMatico
The central bank of Laos intends to explore issuing its own digital currency, according to a media report that provided details on the plan. A study on the matter will commence soon and will be conducted with the support of a fintech startup based in Japan. Central Bank of Laos Joins Race to Develop Digital … Read more
