BITCOIN?
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RUSSIA TRADES DOLLARS FOR #BITCOIN? !
Who needs the U.S. dollar? Russian companies are now using bitcoin and other cryptocurrencies for international trade.
Russian Finance Minister, Anton Siluanov:
"As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions).
Such transactions are already occurring. We believe they should be expanded and developed further.
I am confident this will happen next year."
Thanks to new laws, Russia can now use its locally mined bitcoin to work around Western sanctions.
Partners like China and Turkey are onboard because their banks want zero drama with U.S. regulators.
Putin even threw some shade, calling out the U.S. for ruining the dollar’s reputation and praising bitcoin as untouchable.
Guess sanctions sparked a crypto glow-up.
Source: Reuters #BTC $120K
Who needs the U.S. dollar? Russian companies are now using bitcoin and other cryptocurrencies for international trade.
Russian Finance Minister, Anton Siluanov:
"As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions).
Such transactions are already occurring. We believe they should be expanded and developed further.
I am confident this will happen next year."
Thanks to new laws, Russia can now use its locally mined bitcoin to work around Western sanctions.
Partners like China and Turkey are onboard because their banks want zero drama with U.S. regulators.
Putin even threw some shade, calling out the U.S. for ruining the dollar’s reputation and praising bitcoin as untouchable.
Guess sanctions sparked a crypto glow-up.
Source: Reuters #BTC $120K
ترجمة
🌍💱 BREAKING NEWS: SAUDI ARABIA ENDS 80-YEAR PETRODOLLAR DEAL WITH U.S. 🌍
📢 Summary:
- Saudi Arabia terminates 80-year petrodollar agreement with the US
- Original deal confined Saudi oil sales to US dollars only
- Saudi now able to accept other currencies like RMB, Euros, etc.
💡 Saudi Arabia has chosen not to renew its longstanding 80-year petrodollar deal with the United States, which expired on June 9, according to reports. This historic agreement, first signed on June 8, 1974, played a crucial role in solidifying US global economic dominance.
🔍 Background:
The initial deal established joint economic commissions and addressed Saudi Arabia's military requirements. American officials aimed to incentivize increased oil production and strengthen economic ties with Arab nations.
🔄 Policy Shift:
By opting not to extend this contract, Saudi Arabia gains the flexibility to conduct oil and other goods transactions using currencies such as Chinese RMB, Euros, Yen, and Yuan, in addition to US dollars. There's also speculation about potential transactions involving digital currencies like Bitcoin.
🌐 Broader Impact:
This decision marks a significant departure from the petrodollar system, which began in 1972 when the US separated its currency from the gold standard.
🔗 Project mBridge:
Saudi Arabia has also joined Project #mBridge, an initiative exploring a digital currency platform shared among central and commercial banks. This project aims to facilitate instant cross-border payments and foreign exchange transactions using distributed ledger technology.
💭 Conclusion:
Saudi Arabia's move to end the petrodollar agreement signals a major shift in global economic dynamics. This decision has the potential to reshape global economic influence.
👇 What are your thoughts on Saudi Arabia's move away from the Dollar? How significant would it be if Saudi Arabia were to accept #bitcoin?
#BTC #BinanceTournament
📢 Summary:
- Saudi Arabia terminates 80-year petrodollar agreement with the US
- Original deal confined Saudi oil sales to US dollars only
- Saudi now able to accept other currencies like RMB, Euros, etc.
💡 Saudi Arabia has chosen not to renew its longstanding 80-year petrodollar deal with the United States, which expired on June 9, according to reports. This historic agreement, first signed on June 8, 1974, played a crucial role in solidifying US global economic dominance.
🔍 Background:
The initial deal established joint economic commissions and addressed Saudi Arabia's military requirements. American officials aimed to incentivize increased oil production and strengthen economic ties with Arab nations.
🔄 Policy Shift:
By opting not to extend this contract, Saudi Arabia gains the flexibility to conduct oil and other goods transactions using currencies such as Chinese RMB, Euros, Yen, and Yuan, in addition to US dollars. There's also speculation about potential transactions involving digital currencies like Bitcoin.
🌐 Broader Impact:
This decision marks a significant departure from the petrodollar system, which began in 1972 when the US separated its currency from the gold standard.
🔗 Project mBridge:
Saudi Arabia has also joined Project #mBridge, an initiative exploring a digital currency platform shared among central and commercial banks. This project aims to facilitate instant cross-border payments and foreign exchange transactions using distributed ledger technology.
💭 Conclusion:
Saudi Arabia's move to end the petrodollar agreement signals a major shift in global economic dynamics. This decision has the potential to reshape global economic influence.
👇 What are your thoughts on Saudi Arabia's move away from the Dollar? How significant would it be if Saudi Arabia were to accept #bitcoin?
#BTC #BinanceTournament
ترجمة
Ayer lo mencionábamos en nuestro threads. Fueron por los pools de 62 pero para asegurarse de barrer a todo lo que podían... metieron un golpe hasta casi los 60K. Tras esta masacre de posiciones largas... ¿por efecto rebote... iremos a los 73k en #bitcoin?
#ETF #bullish o #bearish ? #criptoculture
#ETF #bullish o #bearish ? #criptoculture