Category Archive : Armenia

El Salvador hosts talks with 44 countries on ‘benefits’ of bitcoin(Cryptocurrency:BTC-USD)

Ahmed Zaggoudi/iStock via Getty Images

El Salvador President Nayib Bukele said over the weekend that 32 central banks and 12 financial institutions will meet in his country on Monday to talk about a series of topics involving cryptocurrencies, particularly bitcoin (BTC-USD).

Specifically, discussions will pertain to “financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country,” Bukele wrote in a Twitter post May 15.

Most of the central banks and financial institutions listed in follow-up tweets primarily come from third-world nations, including those in Paraguay, Ghana, Uganda, Jordan, Gambia, Egypt and Armenia.

The meeting comes shortly after El Salvador, the first-ever country to adopt bitcoin (BTC-USD) as legal tender, purchased 500 more BTC as the crypto erases gains over the past year.

Meanwhile, the International…

Read more at seekingalpha.com

India says cryptocurrency threatens to ‘dollarize’ economy

Cryptocurrency can lead to the “dollarization” of part of the Indian economy, which is not in the national interests of the countryб ыфшв leaders of the Reserve Bank of India (Central Bank) at a hearing in the Standing Committee on Finance of the Indian Parliament, TASS reports.

Almost all cryptocurrencies are denominated in dollars and issued by individuals. This may ultimately lead to instability and “dollarization” of part of our economy, which will be contrary to the national interests of the country, The Economic Times newspaper quoted the opinion of the leadership of the Central Bank on Monday.

The circulation of cryptocurrencies will seriously undermine the ability of the Central Bank to determine the monetary policy and regulate the monetary policy of India, as the digital currency has the potential to replace the rupee in financial transactions both domestically…

Read more at news.am

What impact does bitcoin have on Armenia’s dairy industry?

Armenia’s dairy industry has faced several obstacles in recent years. The main challenge has been the drop in milk prices, which has forced many farmers to abandon their farms. Another challenge has been the imported dairy products, which have often been of lower quality and much cheaper than the local products. If you’re interested in knowing which countries own the most crypto visit this link for more information.

There are growing concerns about the impact of cryptocurrencies on different sectors. In particular, the dairy sector is a growing concern among dairy farm owners and dairy producers. There are several reasons for this, including:

The Armenian government has been trying to support the sector by subsidizing the purchase of local milk and investing in the modernization of dairy farms. 

One way that bitcoin could help the dairy sector in Armenia is by providing a way to…

Read more at techstory.in

Armenian financial organizations do not carry out transactions with cryptocurrencies

Saturday, May 14/2022



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Bitcoin falls to 22-month low – Public Radio of Armenia

Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks, Reuters reports.

Bitcoin dropped to as low as $32,763.16 shortly before 1100 GMT, in its fifth consecutive session of falling.

The cryptocurrency has dropped 13% so far in May and has lost more than half its value since it hit an all-time high of $69,000 in November last year.

“I think everything within crypto is still classed as a risk asset, and similar to what we’ve seen with the Nasdaq, most crypto currencies are getting pummelled,” said Matt Dibb, COO of Singapore-based crypto platform Stack Funds

Read more at en.armradio.am

Currency Of Last Resort – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

I. Escape From Kyiv

“Do you hear that?”

Gleb Naumenko stopped talking and allowed me to hear the air raid sirens going off behind him in the Ukrainian night, deep in the west of the country, near the border with Romania. “I’m supposed to go to a shelter,” he said, “but I’m too lazy.”

We had been talking over video chat for hours about his escape from Kyiv, and his Bitcoin-powered humanitarian work inside Ukraine when the electronic wail pierced the silence behind him.

“Just last week,” he said, “I was staying with some friends in the nearby countryside. A Russian hypersonic missile blew up several buildings just a few kilometers from where we slept.”

Read more at bitcoinmagazine.com

Bitcoin-Hoarding Miners Turn to Options Market for Cash Infusion

(Bloomberg) — Bitcoin miners are deploying their own version of “yield farming,” the often-discussed cryptocurrency money-making strategy, but with an old-school twist.

Most Read from Bloomberg

Publicly traded miners very much embrace the HODL, or “hold on for dear life,” mantra, hoarding tokens to make their stock more appealing to investors seeking exposure to Bitcoin’s gains. But these firms have major expenses; grinding through cryptographic puzzles to spawn new coins takes pricey computer hardware and giant power bills.

Instead of selling Bitcoin to raise money, firms like Marathon Digital Holdings Inc. are selling Bitcoin call options to wring money out of their holdings, turning to a yield-generating strategy deployed throughout conventional finance.

“Bitcoin miners are some of the most voracious yield seekers in the market today,” said Joshua Lim, head of…

Read more at ca.finance.yahoo.com

Bitcoin becomes official currency in Central African Republic – Public Radio of Armenia

The Central African Republic (CAR) has approved Bitcoin as legal tender – just the second country to do so, the BBC reports.

CAR is one of the world’s poorest countries, but is rich in diamonds, gold and uranium.

Lawmakers voted unanimously to adopt Bitcoin as legal tender, said a statement from the CAR presidency.

The move puts CAR “on the map of the world’s boldest and most visionary countries”, it said.

El Salvador became the first country to adopt Bitcoin as an official currency in September 2021 – a move criticised by many economists, including the International Monetary Fund.

In 2019, just 4% of people in CAR had access to the internet, according to the WorldData website. The internet is needed to use any cryptocurrency, including Bitcoin.

The country currently uses the French-backed CFA franc as its currency, along with most…

Read more at en.armradio.am

Russian hackers are seeking alternative money-laundering options

The Russian cybercrime community, one of the most active and prolific in the world, is turning to alternative money-laundering methods due to sanctions on Russia and law enforcement actions against dark web markets.

Although the options are few, cybecriminals are discussing viable solutions to cash out or safe keep stolen funds and cryptocurrency, analysts at Flashpoint observed in conversations from threat actors.

A “perfect storm”

First came the bank sanctions and the blocking of SWIFT payments, a result of the Russian invasion of Ukraine. This crippled the regular channels for cash flows used by cybercriminals.

Then came the suspension of Russian operations of direct money transfer services such as Western Union and MoneyGram. Scammers and extortionists typically used those to receive payments from victims without revealing their real identity.

On April 5, the servers of…

Read more at www.bleepingcomputer.com

Russia’s War in Ukraine Has Complicated the Means Through Which Cybercriminals Launder Funds. Here’s How They’re Adapting

Perfect storm: Sanctions and counter-sanctions 

Sanctions introduced against Russia in the wake of the 2022 Russian invasion of Ukraine—coupled with capital controls introduced by the Russian Central Bank to counter them—have affected opportunities for cybercriminals to transfer financial resources (e.g. profits from criminal schemes) between Russia and Western countries, though not cut them off entirely.

The situation has been further impacted by the takedown of Hydra, which had emerged as an outlet for threat actors offering cryptocurrency laundering services and tools.

This, coupled with other measures that Russia has taken gain firmer control over its internet infrastructure, has challenged the status quo between Russian cybercriminals and the country that turns a blind eye to, or supports, their illicit activities. It has also prompted threat actors to pursue…

Read more at securityboulevard.com