Category: Reddit Post

Bolivia officially legalizes crypto payments for bank

Bolivia has lifted the ban on Bitcoin and other cryptocurrencies. On June 26, the Central Bank of Bolivia (BCB) officially announced that banks can now conduct transactions with crypto. This regulatory change revokes Board Resolution N°144/2020, which had been in place since December 2020. This regulatory adjustment results from a collaboration between the Central Bank of Bolivia, the Financial System Supervisory Authority (ASFI), and the Financial Investigations Unit (UIF). The update aligns Bolivia with the recommendations of the Latin American Financial Action Task Force (GAFILAT), which has been pushing for adaptations to crypto. Although cryptocurrencies can now be traded through authorized electronic channels, the Central Bank of Bolivia has reminded citizens that cryptocurrencies are not considered legal tender. This means there is no obligation for businesses to accept them as payment. The BCB emphasized this point to ensure the public understands the limitations and legal status of cryptocurrencies in Bolivia. In addition to lifting the ban, the BCB has announced plans to incorporate information on the risks associated with cryptocurrencies into its Economic and Financial Education Plan. This aims to educate the public on how to safely handle cryptocurrencies and understand the potential risks involved. Bolivia hated crypto The ban lift comes after years of stringent regulations. In 2014, Bolivia’s Financial System Supervision Authority issued a resolution prohibiting the use of crypto. This ban cited a lack of consumer protection and the potential for money laundering. Again, in 2022, the Bolivian central bank prohibited the banking sector from using, marketing, or transacting cryptocurrency assets. The reason given was to protect the public from “risks, frauds, and swindles” and to prevent “economic losses.” This regulatory change occurs against a backdrop of political and economic turmoil. Recently, Bolivia experienced a dramatic coup attempt. Soldiers took over La Paz’s central square and rammed the presidential palace with an armored truck. The coup, led by rogue General Juan Jose Zuniga, was put down as quickly as it began. Zuniga was arrested on live TV after realizing he had little support for his actions. submitted by /u/Lor1al [link] [comments]

“Children of Ozempic.” Women Taking Ozempic Report Unexpected Pregnancies

The weight loss drug may lead to unintended pregnancies, but it can also increase fertility and help with infertility treatment, reports the journal Nature https://www.nature.com/articles/d41586-024-02045-w The weight loss and type 2 diabetes drugs Ozempic and Wegovy have received approval from nearly all regulators worldwide and have passed all phases of clinical trials. The active ingredient, semaglutide (Ozempic and Wegovy are brand names of the Danish company Novo Nordisk), has been tested and used for over ten years. However, as the widespread use of these drugs began, with them being considered literal “saviors of humanity from obesity,” reports of side effects started to emerge. Women on social media began writing about unintended pregnancies while taking Ozempic and Wegovy. Some women became pregnant while on birth control pills, which did not work properly. There were also reports from women previously diagnosed with infertility who were able to conceive after a course of weight loss medications. On one hand, this is an unpleasant side effect that disrupts people’s plans, but on the other hand, it is hopeful news for many couples as it gives them a chance to have a child. While the scientific community awaits additional data on the impact of these drugs on fertility with bated breath, the stock market seems to be responding already. MT5 Pepperstone submitted by /u/FXgram_ [link] [comments]

Investments Are Not All Sunshine and Rainbows_part 2

part 1 is here Guys who have raised a lot of money seem incredibly successful. Any entrepreneur would be pleased, especially when respected gentlemen managing billion-dollar funds “believe” in them. In theory, it all looks beautiful: capitalists provide cash, advice, and connections, along with PR and inspiration. But there are some problems with other people’s money. Firstly, funds make large bets. And they need large wins. Ben learned this the hard way: the fund that invested in him didn’t want to make 10 or 25 million dollars. They needed at least a hundred million. Secondly, big venture capitalists have become very selective and rarely make more than 2-3 investments a year. They are looking for startups that show explosive growth in large markets. A company that will be sold for 50 million dollars bringing them a 30 percent profit won’t make a big difference for the fund owners. Some investors would rather crush a small, good startup to death trying to turn it into a unicorn than agree to a modestly positive deal. And the founders will have to pass up a great offer for them personally just because the big boss doesn’t find it grand enough. submitted by /u/FXgram_ [link] [comments]

Peppesrtone, Chris Weston:The RBA has an inflation headache – the August RBA meeting is now live

Authored by Chris Weston It’s the big fear for Aussie mortgage holders, but after today’s May CPI data we are now seeing the 24 August RBA meeting as ‘live’. So, while the June employment report (due 18 July) and Q2 CPI report (31 July) will go some way to truly determining a hike – judging by market pricing, a 25bp hike in August is now a real risk and the brave economists out there will be looking at their house call and begrudgingly tweaking it. Plugging the various CPI components into the Q2 CPI model, and estimates suggest we’re shaping up for a trimmed mean Q2 CPI print of 0.9% q/q, which would be a touch above the RBA’s own forecasts of 0.8%. We see estimates of core services +0.4%m/m and again this is just too high. Headline CPI did fall a touch month-on-month, which is the silver lining, but when we annualize this, we see inflation has risen and progress on inflation is glacial. We need to remember that there is a stark difference between a psychological token 25bp hike and that of a new hiking cycle – but in the art of being pro-active, the RBA may want to get the real policy rate a touch higher. We’ll learn more tomorrow when RBA member Hauser speaks (20:00 AEST) and Aussie rates and AUD traders will be glued to every word to see if the pricing in markets is correct. However, the markets have spoken out, and we see the Aus 3yr govt bond +15bp to 4.07% and testing range highs in yield. Aussie swaps price 10bp of hikes (or a 40% implied) for the August RBA meeting, where it holds this pricing through the end of the year, with easing not priced until April 2025. In equity land, the ASX200 fell 47p on the data but has found better buyers into 7750. The AUD has firmed up in line with rates pricing, although we’re seeing better sellers in the mix as we roll into the meat of Asia trade. AUDUSD hits a high of 0.6679, where we see consolidation and wait to see how London/European desks trade this move. AUDNZD the play for divergence central bank paths, with the cross pushing into 1.0914 – rate differentials are supportive, and this has 1.1000 in the crosshairs. EURAUD looks to print a new closing low in this run, where EUR traders remain risk managers of the impending 1st round election vote on Sunday, but this feels like it pushes lower too. However, in a world where G10 central banks are either easing or signaling the start of an easing cycle, the RBA, alongside the Norges Bank, is looking more and more like the outlier and that has real meaning for the AUD – if the Chinese yuan wasnt trending lower, the AUD would ripping higher and would be attracting huge pools of global capital. Where to trade? You know 👉 https://track.pepperstonepartners.com/visit/?bta=38408&brand=pepperstone submitted by /u/XGramatik [link] [comments]

Investments Are Not All Sunshine and Rainbows_part 1

Once upon a time, there was a startup founder, let’s call him Ben. After seven grueling years of “blood, sweat, and instant noodles” (though that’s often an exaggeration, let’s believe it for the sake of the story), he finally built his “house of friendship.” With a substantial round of funding from a top venture capital firm, things were looking up. By 2011, Ben and his team were on the brink of selling their business for a cool $88 million. The deal was almost sealed, and Ben was on the verge of becoming a wealthy man. The venture capital fund that backed him stood to double its investment. But then, disaster struck. The investor, who had the power to veto such deals, pulled the plug at the last moment. “They told me to wait for a better offer,” Ben wrote in his blog. Of course, they thought billion-dollar deals were just around the corner! The better offer never came. Not after a year, not after two. The company lost its momentum – naturally, it was no longer a startup. The co-founders got burnt out and left. And when Ben finally wanted to cash in his late-night instant noodle sacrifices, he had to settle for an amount that was a mere fraction of that once-promising offer. This story is just one of many we never hear about. submitted by /u/FXgram_ [link] [comments]

The European Council has unveiled a 14th package of sanctions, targeting crypto providers established outside of Europe that support Russia’s defence-industrial base.

European leaders have adopted another package of sanctions designed to target “high-value sectors of the Russian economy, like energy, finance and trade, and make it ever more difficult to circumvent EU sanctions.” In a Jun. 24 press release, the European Council revealed that the latest package includes restrictive measures on an “additional 116 individuals” as well as entities “responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.” Reuters notes in a report that following the latest action, the sanctions list now includes more than 2,200 entities. Among multiple restrictive measures developed to “crack down on [sanctions] circumvention,” the European Council also introduced a ban on transactions targeting crypto providers “established outside of the EU, when these entities facilitate transactions that support Russia’s defence-industrial base through the export, supply, sale, transfer or transport towards Russia of dual-use goods and technology, sensitive items, battlefield goods, firearms and ammunition.” The specifics of how European countries plan to monitor the industry for potential sanctions violations remain unclear, with some industry experts suggesting it will require extensive due diligence efforts. This development comes a few months after the European Council and Parliament agreed on stricter regulations for crypto firms to enhance anti-money laundering (AML) measures in the sector. Starting from January, crypto firms must scrutinize their customers more closely, particularly for transactions of €1,000 or more. The aim is to ensure cryptocurrencies aren’t used for illegal activities or for sanctions evasion. submitted by /u/Lor1al [link] [comments]