Bitcoin News and Finance: What You Need to Know

Crypto exchange Binance has dropped Russian banks under sanctions from the payment options on its peer-to-peer (P2P) platform. Russian traders can no longer use cards issued by these banks to make payments while transactions in foreign fiat currencies are also restricted for them. Binance No Longer Offers P2P Traders Option to Pay Through Sanctioned Russian Banks The world’s largest digital asset exchange, Binance, has dropped Russian banks placed under Western sanctions from its P2P service, the Wall Street Journal reported . The move comes after the crypto giant faced criticism for facilitating payments through such institutions. A few days ago, Russian crypto media revealed that Binance has renamed bank cards issued by Russia’s largest bank, Sberbank, and the neobank Tinkoff to “green local card” and “yellow local card” after the publishing of an earlier WSJ article alleging that the exchange is helping Russians move money abroad in circumvention of sanctions. Unprecedented r...

India’s Prime Minister Narendra Modi says crypto needs “a global framework and regulations.” He stressed: “The rapid pace of change of technology is a reality — there is no point in ignoring it or wishing it away. Instead, the focus should be on adoption, democratization, and a unified approach.” Modi on Crypto Regulation Indian Prime Minister Narendra Modi talked about cryptocurrency regulation in an interview with Business Today, published on Saturday. Modi, who recently returned to India from South Africa, where he attended the BRICS summit, said: The rapid pace of change of technology is a reality — there is no point in ignoring it or wishing it away. Instead, the focus should be on adoption, democratization, and a unified approach. “At the same time, the rules, regulations, and framework around it should not belong to one country or a group of countries. So not only crypto, but all emerging technologies need a global framework and regulations,” the Indian prime minister str...

A German expert says that the BRICS economic bloc adding several oil giants as new members “is a strategic success for China and Russia.” The BRICS leaders announced at their annual summit last week that they have invited Saudi Arabia, the UAE, Iran, Argentina, Egypt, and Ethiopia to join as new members. BRICS Adding 6 New Members Prof. Dr. Daniela Schwarzer, an executive board member at Bertelsmann Stiftung, an independent foundation based in Germany, said in an interview with Austria’s Der Standard newspaper that the BRICS economic bloc adding some of the world’s largest oil producers marks a strategic success for Russia and China. “Schwarzer is regularly consulted as an expert and policy advisor. She is currently a member of the working group convened by the French and German governments on reforming the EU,” Bertelsmann Stiftung described. “She also advised France and Poland during their respective EU presidencies and was a consultant to the French prime minister’s Centre dʼAna...

In an announcement on Sunday, cryptocurrency mining rig manufacturer Bitmain revealed its intention to sell a machine designed for mining the digital currency monero ( XMR ). The machine boasts a hashrate of 212 kilohash per second (KH/s), and the firm asserts that it is the first “professional XMR miner” available. ‘Hard Fork Go Brrrrrrrr’ — Monero Mining Machine Launch by Bitmain Creates a Stir Bitmain is preparing for the unveiling of its latest XMR mining rig, the Antminer X5. Sales are scheduled to commence on September 4, according to the Sunday announcement . While the machine’s price remains undisclosed for now, the manufacturer has engaged its social media followers by inviting them to speculate on the price of the new X5 rig. Individuals whose price estimates fall within 5% of the actual value will have the chance to receive a $1,000 Bitmain coupon, while those within 10% will be rewarded with a $500 coupon. Although the announcement does not specify the value of the R...

The six countries that received an invitation to become members of BRICS at its summit have confirmed their decision to join the bloc, one of Russia’s top diplomats unveiled. The high-ranking official added that at this point in time it would be premature to name those in the next batch of candidates. BRICS and Its New Members Need Time Before Next Expansion Wave, Moscow Says All of the newly invited countries have reaffirmed their desire to join BRICS, Russian Deputy Foreign Minister Sergey Ryabkov said at a press conference after the organization’s 15th annual summit which was held on Aug. 22-24 in South Africa. At their meeting in Johannesburg, the current five member states (Brazil, Russia, India, China, and South Africa) agreed to admit six more nations as members of the group on Jan. 1, 2024 — Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. “All the countries who have been invited to join BRICS confirmed their willingness to accept the invitati...