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Bitcoin dips 12% as South Korea announces taxation of cryptocurrency exchanges

The cryptocurrency market has extended losses on Tuesday following the news that South Korea is planning to introduce taxation on digital money trading. A total of 96 out of the top 100 cryptocurrencies are down 10 to 20 percent, with market leader bitcoin over 12 percent in the red, according to data on Coinmarketcap. Read […]

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Davos 2018: Elites to save the world at cocktail party schmooze-fest

It’s that time of year again when the elite gather at Davos by day to tackle the many problems plaguing the planet. And then by night it’s back to hitting the slopes, sipping champagne and networking again. Since its first gathering in 1971, the scenic Alpine town of Davos, Switzerland – home to over 200 […]

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Cryptocurrency market continues to slide as regulation claws tighten

Bitcoin and other cryptocurrencies were trading 10 to 23 percent lower on Monday, as news about tighter regulation continues to wreak havoc on the market. The biggest Nordic bank, Nordea, sent a memo to all its employees on Monday, warning that they are now prohibited to trade in bitcoin or other cryptocurrencies due to their […]

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Russian ruble prepared for global expansion as dollar dependency drops

The ruble can play a greater role in the former Soviet republics, according to the Central Bank of Russia. The Russian currency is seeking to compete with the US dollar in trade with the Eurasian Economic Union and CIS countries. The country’s central bank says by 2035 the ruble can expand in the EEU, a […]

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Russian gold reserves hit historic high, stockpiling record 223 tons last year

The Central Bank of Russia (CBR) added 300,000 ounces (9.3 tons) of gold to its reserves in December, bringing the total yearly holdings to a record 1,838.211 tons, worth over $ 76 billion in monetary terms. Read more According to new statistics, Russia is currently the sixth-largest gold owner after the United States, Germany, Italy, […]

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US on track to unseat Saudi Arabia as #2 oil producer in the world

New forecasts from the International Energy Agency say the United States is on track to overtake Saudi Arabia as the second-largest oil producer in the world, just behind Russia, according to the organization’s report on Friday. “This year promises to be a record-setting one for the US,” the IEA wrote in its monthly market report. […]

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The OPEC deal may end in June

A couple of weeks ago, comments from the UAE’s energy minister spurred the oil price rally higher. What the minister said — or rather, hinted — was that the oil production cut deal that OPEC agreed to at the end of 2016 with Russia could continue beyond its December 2018 deadline. The rise, however, may have […]

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New oil-backed cryptocurrency aimed at ending market volatility

The first legally compliant digital currency based on a physical asset, OilCoin, was announced last month. Each token will reportedly represent the value of one barrel of oil. Read more A team of banking and technology managers, and US regulatory commissioners who launched the digital currency claim it would provide users with a safe haven […]

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