On May 16, the Central Bank of Cuba will begin issuing licenses for the use of cryptocurrencies in economic activities. The authorities are going to allow the cryptocurrency because of the consequences of the coronacrisis and US sanctions, which have been destroying the country's economy for 60 years.Cuba is a "passing prize"The first settlements on the island were founded by Spanish colonists in the early 16th century and ruled for almost three centuries. Then the metropolis brought African slaves and began to use the land for sugar cane and tobacco – the "oil" of that time.Cuba received relative freedom only at the end of the 19th century after an uprising of local residents and a long war for independence. Spain lost its influence in the Caribbean region, and the United States took its place. Nominally, the United States developed the economy and industry of Cuba, investing hundreds of millions, and then billions of dollars. In fact, they used it as a semi-colony: troops could enter at any moment, local authorities and production controlled it.Before World War I, about 90% of Cuba's exports were tobacco and sugar. Most of the agricultural territories were given over to them. Products for domestic consumption had to be imported – there were not enough of their own. At the same time, companies from the United States received privileges and imported goods to Cuba without duties.The country's economy suffered severely during the First and Second World Wars: first, the flow of goods from Europe stopped, then pro-American officials banned exports from the Soviet Union. As a result of the crisis, the poor could not get vital things, and the elite lived in comfort and luxury.In 1940, President Fulgencio Batista came to power – later he would be called a puppet of the United States. Under Batista, the capital of Cuba, Havana, became the "Latin American Las Vegas." The business was controlled by American monopolies and mafia clans. Businessmen from the United States owned 90% of the mining industry, 80% of utilities and fuel companies and half of sugar production. Batista received millions in bribes, and America turned a blind eye to numerous crimes: from the organization of brothels to drug and human trafficking.13 years later, a group of revolutionaries led by Fidel Castro rebelled against Batista. Impoverished and intimidated by the authorities, people joined the fight against tyranny. Castro promised to distribute land to peasants, ensure independence from the United States and improve the financial situation of Cubans. The resistance has been active for almost six years. A guerrilla war has begun in Cuba. By 1959, Castro's forces were able to capture the capital, and Batista lost control of the state and fled to the Dominican Republic. At the same time, the former dictator took most of the gold and foreign exchange reserves of the Central Bank of Cuba."Friendship against the USA"The Castro government reformed the economy and nationalized most of the companies owned by Batista supporters. 60% of agricultural land was transferred to peasants, the rest went to the state. The authorities began to control the turnover of currencies and trade. Residents of the United States were forced to pay 100% tax on luxury goods and 25% on minerals.In response, the U.S. government stopped importing oil to Cuba and reduced the sugar trade. An economic war has begun between the countries. Castro continued to nationalize American companies, and the United States imposed an embargo: they stopped trading with the Island of Freedom, and any country that provided assistance to Cuba fell under sanctions.The USSR took advantage of the situation. The Soviets gave the Castro government $100 million in loans at 2.5% per annum. Specialists in geological exploration, builders and the military were brought to Cuba. The USSR provided the new ally with equipment, weapons and agricultural products, and in return received sugar, coffee, minerals and representation in the Caribbean. During the period of active trade with the Union, Cuba's economy grew. In the 80s, the country began to build solar and wind power plants, recycle recyclables. Over 20 years of cooperation, Cuba has turned into an industrial and agrarian power. But its economy continued to depend on its "curse" – cane sugar.At the same time, the United States declared Cuba a "sponsor of terrorism" and tightened the embargo again. However, by this time the diplomats were able to establish trade with Latin American countries. Uruguay, Argentina and Venezuela became new partners."Island of freedom" without UnionCuba's economy began to collapse after 1991. Despite diplomatic ties with Latin American and Caribbean countries, the country was dependent on the Soviet Union and still suffered from US sanctions. When the USSR collapsed, the Castro government had to switch to economy mode: there was nowhere to bring equipment and cheap oil in exchange for local goods. The sugar industry became the basis of the economy again, but tourism began to develop in Cuba in parallel.The United States has adopted additional sanctions. Now foreign companies trading with the "disgraced" country were threatened with restrictions. In Cuba, there was a shortage of food and medicines, interruptions in the supply of fuel and spare parts for equipment. GDP began to decrease. During the three years of the crisis, it has decreased by a third. To compensate for the losses, Cuba was looking for foreign partners and investments. Three free economic zones were organized on the island and part of the trade bans were lifted. The government began to create a socialist economy with elements of market relations. State-owned enterprises have introduced self-financing.The first effect of the reforms in Cuba was felt in 2001. Up to this point, the country's economy was shrinking by an average of 3-7% per year, and after that it began to grow. The country has reduced the state monopoly on foreign trade and began to recognize cooperative, private and mixed forms of ownership. After 2010, the government allowed local entrepreneurs to work and introduced a progressive taxation system. Cuba began to actively trade with countries that were less dependent on America. In particular, Venezuelan President Hugo Chavez supplied up to 53,000 barrels of oil to the island daily, in response Cuba sent teachers, doctors and engineers to the new partner. By 2013, about 100,000 Cubans were working in Venezuela. One of the important sectors for the economy has become "medical internationalism". Local doctors started working all over the world.Hurricanes, COVID and new sanctionsCuba still continues to suffer because of the US blockade. The damage has already exceeded $104 billion. And taking into account the depreciation of the US currency — up to $ 1 trillion. After America imposed sanctions against Venezuela, Cuba's main partner began to have serious problems. They were reflected, among other things, on the Cubans. If earlier it was profitable to work in an oil-rich country, then after the Venezuelan crisis, this market almost closed. In addition, interruptions in oil supplies began.The country's economy was also affected by Hurricanes Dennis and Wilma in 2005, Gustav and Ike in 2008, Sandy in 2012. Each of them disabled infrastructure facilities, destroyed buildings and destroyed crops. The military had to deal with the consequences of natural disasters.Another serious blow was the coronavirus pandemic. Many medical professionals were working abroad when COVID was discovered in Cuba. And local doctors lacked medical equipment: there were many elderly people living in the country who were at risk. Officially, the country has coped with the crisis: it was able to introduce an effective system of protection against coronavirus, developed its own vaccines and started immunization. More than 5 million Cubans have been vaccinated against COVID-19. At the same time, the Cuban economy was in a precarious position: the flow of tourists dried up, and investment declined.Dinner for two for a month's salaryNow the "Island of Freedom" has a single currency – the Cuban peso (CUP). $1 = 23.98 CUP or 70-100 CUP at the "street rate". The authorities ask tourists to exchange American currency for euros in advance – banks do not accept and do not exchange USD.The average salary in Cuba for the last 4 years is about $33-45. At the same time:a kilogram of vegetables, a large loaf of bread or a bottle of water cost $0.5;a dozen eggs – $0.7;a liter of gasoline – $1;payment for communal services – $5-10;unlimited internet – more than $100 per month;dinner for two in a restaurant for tourists – up to $25;economy class car rental - $20;1 sq.m. of housing – from $1,500 to $5,000, in tourist areas – higher.Tourists and journalists who have visited Cuba note that it has become unprofitable to work in local industries. Most people live at the expense of relatives who have gone to work in other countries. It is enough to send $50-100 per month to provide for the family.Cubans themselves believe that the authorities have begun to resemble the "puppet government" of Batista. On the islands, "two parallel Cubes" coexist again: elites and Latin American businessmen live in luxury, and ordinary people are forced to live in shacks or sit on the necks of those who left the "Island of ...
NZDUSD: sideways dynamics developing in the pairThe trading instrument NZDUSD demonstrates mixed sentiment, having resumed testing the level of 0.6200, developing a downtrend. Traders keep low activity, waiting for additional stimulus.Meanwhile, the New Zealand currency positively perceives the data from the Celestial Empire, which marked a rapid recovery of economic indicators as the authorities decided to depart from the "zero tolerance" principles to covid-19. Thus, by the end of the previous week the market participants estimated the business activity in the service sector index from Caixin, which improved its position for February to 55.0 points from 52.9 points with the estimate of 50.5 points. Meanwhile, the value of New Zealand exports declined 0.6% earlier, strengthening 3.1%, and in volume the same figure declined 6.3% versus an increase of 5.5% in the past. The average value of imports strengthened in the region of -2.1% versus an increase of 7.1% in the past, signaling continued problems with the country's economic performance.Resistance levels: 0.6250, 0.6288, 0.6350, 0.6400.Support levels: 0.6200, 0.6155, 0.6100, 0.6050.USDJPY: analysts failed to anticipate inflationThe USDJPY traded instrument showed moderate decline during Asian session, testing 135.73, continuing development of correction impulse formed since Friday, when the "American" retreated from the local high of December 20.The previous day macroeconomic data block did not meet the market expectations. Thus, the Tokyo consumer prices went down to 3,5% from the forecasted 4,4%, while the core value decreased to 3,3% from 4,3% against the expected 4,5% increase. The head of the Japanese government has already instructed to expand the population support program, as a result of which businesses and part of the needy population will be able to receive a government subsidy. The contradictory situation with consumer price dynamics leads investors to the conclusion that the new Head of Bank of Japan, who enters office in April, will support the current soft monetary parameters policy which was initiated by the predecessor.Resistance levels: 136.50, 137.50, 138.50, 139.50.Support levels: 135.57, 134.50, 133.61, 133.00.Gold prices analyticsThe precious metal is quoted near a new local high on February 15.The market retains the reduced dynamics of the deals, leaving the asset's inclination for the correctional decrease, taking into account the active strengthening during the previous week due to the weakening of the "American". The U.S. dollar is under pressure in anticipation of the U.S. Federal Reserve's winding down of the current interest rate adjustment phase due to the normalization of inflationary dynamics. At the same time, there is a rather "hawkish" mood among the officials of the financial department, and economists' expectations speak about the next cycle of the index increase by 0.25% already at the end of the next meeting. If the regulator decides to take a pause and take an observation position, experts admit that such a scenario is more likely by the middle or end of the summer than at present, in case the current trends persist. Meanwhile, the bank metal finds positive signals in the rapid pace of economic recovery in China, acting as a stimulus in the growing demand and a favorable price background, as well as mixed data on the dynamics of inflation in the euro area, where a short-term decline in some countries was again replaced by a trend to moderate growth. Thus, Germany's harmonized consumer inflation index for February strengthened to 9.3% from 9.2% for the year while analysts estimated a slowdown to 9.0%. The monthly figure accelerated by 1.0%, outperforming the January value by two times and experts' expectations of 0.7%.Resistance levels: 1869.49, 1886.46, 1900.00, 1915.00.Support levels: 1850.27, 1828.22, 1804.41, 1786.28.Cryptocurrency Market analysisLast week, the first cryptocurrency BTC ended with a downward correction, dropping to 22000.00, but at the time of writing the asset intends to recoup losses and is testing the 22400.00 level.Most analysts agree that the "bears" received a strong incentive on the information about the possible closure of the Silvergate financial institution, which closely cooperates with cryptocurrency exchanges, which increased the pressure on this market segment by an order of magnitude. So, the previous Friday was marked by a statement from representatives of the main company Silvergate Capital Corp. On the postponement of the release of the annual financial statements before the U.S. Securities and Exchange Commission. In addition, the audit has been extended against the background of accounting for losses of bonds that have been issued since the beginning of March. Such comments sowed guesses among the cryptocurrency community that negative market events had a strong negative factor on the capitalization of Silvergate, as a result of which the banking institution lost its financial viability. Such guesses became the driver for hasty termination of cooperation with the bank as a whole or maximum minimization of contacts from a number of digital companies. Among those who made such a decision were Bitstamp, Bakkt, Paxos, Galaxy Digital, Coinbase, Gemini, Tether and some other sites.Resistance levels: 23500.00, 25000.00, 26562.50.Support levels: 21875.00, ...
EURUSD: low gas prices are strengthening the euroThe EURUSD trading instrument is trading at the price level of 1.0645.Positive correction has consolidated the initiative because of the decrease in the quotations of "blue" fuel on the stock markets. Thus, the end of the previous week's final data from the Dutch gas hub TTF displayed a break down of the price threshold of USD 1.0 thousand per thousand cubic meters, renewing the figure of early 2022, and the price threshold of supply deals for February was 930.00, renewing the January level, before the Russian military invasion of Ukraine. Blue fuel quotes are influenced by several factors: first of all - weather conditions, as there are no hard frosts in Europe and the agreement between the alliance member states to introduce the wholesale price cap on the resource at EUR 180.00 per megawatt-hour, in case of three-day costs above this mark, starting from February 15. Now the euro zone countries have the opportunity to fill up the reserves to the limit and sign contracts for the long term to 2023, in addition, there is room to reorient the gas systems to the injection of liquefied natural gas (LNG). For example, the day before Germany announced the launch of its first floating LNG terminal, two more are planned, and the daily supply volume was 10.0 million cubic meters, which is 16 times lower than the Nord Stream GTS.Resistance levels: 1.0720, 1.0930.Support levels: 1.0570, 1.0390.AUDUSD: rising commodity prices support the pair."Bears" failed to overcome the support threshold of 0.6670 and the AUDUSD instrument turned to the upward dynamics, renewing the December high at 0.6900. The Australian currency was stimulated by the weakened US dollar, which was under the pressure of the risk of recession in the national economy in the next year due to the regular tightening of monetary parameters by the US Federal Reserve System to overcome the growth in consumer prices.Additional stimulus for the Australian currency was received amid growing commodity prices and a bearish trend among precious metals. So, over the past few trading weeks crude oil WTI has gained 10.5% in price, and gold strengthened at a lower rate, but over the past month the asset has improved by 2.5%, leaving the advantage to the "bulls".Resistance levels are at 0.6900 and 0.7000.Support levels: 0.6670, 0.6585 and 0.6500.Oil market analysisThe price of benchmark Brent crude oil managed to correct slightly above the resistance level of 85.00, where it is being held due to risks of resource deficit in the markets in case Russia cuts off supplies to the EU, G7 and Australia, after it keeps the upper limit of 60.00.Russian Deputy Prime Minister Alexander Novak said that by the end of this year, a mechanism will be developed and put into effect to prohibit Russian legal entities from supplying oil at the established price cap. Moreover, the political leadership of Moscow agrees to reduce production capacity in 2023 by 500,000-700,000 barrels per day, or 5-7% of the current level. Earlier, the Russian government had already said that the Russian Federation intends to enter into new crude supply contracts, giving priority to eastern markets, making logistical adjustments that will serve to gradually restore demand for the energy carrier.Support levels: 82.40, 76.70.Resistance levels: 87.10, 92.00.Cryptocurrency market analysisAt the end of the previous week, BTC stabilized at the level of 16800.00, at which it is now.Analysts are trying to foresee the prospects of the first cryptocurrency and the market in general for the next year, but estimates are different, as the wing of optimists believe that quotes have found the "bottom" and will be able to return the upward dynamics, and the wing of skeptics forecasts the continuation of the current price level or the strengthening of negative trends. Thus, experts from JPMorgan Chase & Co. argue that the fall of the FTX exchange deprived electronic assets of attractiveness for a long period and the prospects of the market segment have become uncertain. Moreover, the existing precedent will lead to a strengthening of control by the world regulators over the digital industry. Already in the present the largest crypto-exchange Binance came under pressure from the audit bodies in the U.S., where an investigation was initiated into the legality of services, in addition, the French authorities accuse the management team of the site of misleading advertising campaign. Most likely, the level of pressure on exchanges and their clients will only increase throughout 2023, leading key tokens to the fall.Resistance levels: 17100.00, 17830.00, 18750.00.Support levels: 16250.00, 15700.00, ...
EURUSD: IEA named the amount to fill the EU gas shortfall for 2023The euro is trading weakly higher at 1.0535. Investors are refraining from making bold moves ahead of a wave of monetary policy corrections from global regulators. According to the announcements, the summit of the U.S. Federal Reserve will start on December 13, the ECB (European Central Bank) and the Bank of England will meet on December 14 and 15, respectively. Economists estimate that all meetings will end with a 0.50% rate hike, but the future outlook for each agency remains unclear. Meanwhile, the IEA (International Energy Agency) expects gas supplies from Russia through the pipeline to the euro zone countries to decrease by more than 50%, to 50.0 billion cubic meters, assuming that in 2023 the supplies will stop altogether. Under such a scenario, the deficit indicator will be 57.0 billion cubic meters. m., the completion of which will require the official Brussels to increase spending by 100.0 billion euros and increase the audit on the consumption of "blue fuel". According to Bloomberg, passions about continuing to reduce the marginal price of gas from Russia do not subside, so 12 EU member states have already initiated a continuation of the reduction. Energy ministers of the alliance agreed to hold an unscheduled meeting today for consultations.Resistance levels: 1.0550, 1.0600, 1.0640 and 1.0700.Support levels: 1.0500, 1.0450, 1.0400, 1.0350.AUDUSD: Bulls are winning back its losses.Aussie is showing moderate strengthening, intending to recover the losses incurred in the rapid decline earlier. AUDUSD is at 0.6760 with growth prospects, but traders are keeping a low activity ahead of the U.S. Federal Reserve officials meeting, the results of which are expected on December 14. Before the summit of the U.S. department the statistics on the consumer prices, which will be released today, will be of much interest for the investors. The current estimates sees the consumer inflation rate easing to 7.3% from 7.7% annually and to 0.3% monthly from 0.4%. Today's macroeconomic data releases in Australia showed a moderate negative trend. Thus, business sentiment in the National Bank of Australia for November shrank to 20.0 points from 22.0 points of the previous period and business confidence sagged to -4.0 points from 0.0 points, while analysts expected the stability to 5.0 points.Resistance levels: 0.6800, 0.6850, 0.6900, 0.6950.Support levels: 0.6750, 0.6700, 0.6650, 0.6583.Oil market analysisThe benchmark Brent is currently at the support level of 77.00, which it retreated to during the previous trading week due to panic sentiment among traders about the earliest recession. The negative factor for the asset is a high probability of recession in the leading world economies throughout 2023. The U.S. consumer price index data is due out at 15:30 (GMT+2) on Tuesday, which will be used by U.S. Federal Reserve officials at tomorrow's summit. Economists forecast a correction of the core inflation rate to 6.1% year-on-year from the current 6.3% and the standard inflation rate to 7.3% from 7.7%.Resistance levels: 83.50, 90.50.Support levels: 77.00, 69.70.Cryptocurrency market analysisDuring the current trading month, ETH is holding at the price range of 1290.00-1250.00, from time to time making attempts to break out of its limits, but without success. The market continues to be in uncertainty, as the negative background associated with the liquidation of the FTX exchange negates the positive signals of monetary factors and decisions on the prospect of Ethereum network renewal. By Friday of last week, the development team announced that Shanghai, which gives the ability to withdraw funds locked into Beacon Chain, is scheduled for completion early next spring, bolstering investor sentiment. As a reminder, Beacon Chain currently holds more than 15.5 million ETH frozen in customer accounts, or 12.9% of the total coin level, but there have been no more specifics on the name of the deadline for their return.Resistance levels: 1290.00, 1323.00, 1500.00.Support levels: 1250.00, 1125.00, ...
USDCHF: the pair is in a corrective moodAfter the termination of the "bears" domination last week, where USD/CHF pair updated the local minimum of April 12, in the morning trading there is an active attempt to strengthen.Investors are giving advantage of profit taking on short positions before the fast-approaching summit of the U.S. Federal Reserve System, scheduled for Tuesday, December 13. Market participants are confident of a 0.50% rise in the key index due to the gradual reduction of consumer price pressures. Meanwhile, the Fed is expected to release updated economic forecasts, and Fed Chair Jerome Powell may attempt to reassure markets by reiterating previous guidance for the U.S. economy. Before that, analysts will focus on November consumer price statistics, which will be released tomorrow. The preliminary estimate sees the monthly figure accelerating to 0.5% from 0.4% while the annual figure is expected to show zero growth of 7.7%.Resistance levels: 0.9400, 0.9478, 0.9550, 0.9600.Support levels: 0.9350, 0.9300, 0.9250, 0.9200.USDJPY: dollar is making up for last week's lossesThe American currency shows positive momentum, being at 137.00 with an upside prospect, while the "bulls" are waiting for more stimulus to strengthen the trend.A moderate support to the Japanese yen is provided by the positive macroeconomic data block on production prices. Thus, according to the November results the index of industrial inflation strengthened by 0.6%, having earlier strengthened by 0.8% for the previous month, while analysts expected the decline to 0.5%. Domestic corporate commodity prices showed a slight correction to 9.3% from 9.4% with the market expecting 8.9%. Meanwhile, large manufacturing sector activity for Q4 decreased by 3.6%, having previously strengthened by 1.7%, with a minimum of 0.1% growth expected. Economists noted the high potential momentum of economic recovery in Japan for the current quarter due to the removal of part of the sanctions on semiconductors for the auto industry and the lifting of control measures due to Covid-19, allowing to increase tourism capacity, both international and domestic. This will lead to support for private consumption, spurring an October-December economic recovery.Resistance levels: 137.50, 138.50, 139.58, 140.79.Support levels: 136.50, 135.57, 134.78, 133.61.Gold pricesThe precious metal is showing a strong decline, having retreated from the local high of December 5, updated last Friday. The stock trades at 1785.00, continuing a decline ahead of the release of inflation data for November, announced ahead of a two-day U.S. Federal Reserve meeting. The current estimate calls for inflation at 7.7%, but the core could rise to 6.4% from 6.3%. Investors are predicting a 0.50% hike in the interest rate by the agency, but of greater importance is the updated forecast by officials for the medium term.At the same time, the Swiss National Bank, ECB (European Central Bank) and the Bank of England are scheduled to meet this week. Preliminary estimates suggest a continuation of moderate interest rate hikes, despite the high probability of a recession for the EU and United Kingdom economies.Resistance levels: 1800.00, 1816.62, 1828.22, 1843.37.Support levels: 1786.28, 1765.66, 1753.09, 1734.91.Cryptocurrency Market AnalysisLast week showed a decline of the first cryptocurrency BTC to the level of 16700.00, but later some positions were recovered at the level of 17200.00, where the trading continues in the last sessions.The cryptocurrency market continues to be affected by contradictory factors, firstly, the negative mood is due to the bankruptcy of a major trading platform FTX, and secondly, from a significant collapse in the prices of electronic assets retain monetary reasons. The process of liquidation over the last six months has dealt a strong blow to the reputation of the sector which deprived assets of a considerable part of investments. As follows from a survey of the U.S. population, initiated by CNBC channel, by the end of this year, the level of confidence among surveyed citizens to invest in digital assets fell from 19.0% to 8.0%, the number of respondents with a strongly negative opinion about crypto-assets after the bankruptcy of FTX and Terraform has increased from 25.0% to 43.0%. The exit of the FTX exchange from the market has not escaped the attention of the authorities, which will make it more likely to establish regulatory bodies over the activities of such a segment of investment, reducing the interest of potential newcomers. At the moment, a number of government regulators are conducting audits on unfair practices in the PR-companies exchanges, and the SEC (U.S. Securities and Exchange Commission) made a requirement for the national business to transmit data on the ownership of digital assets, in addition to disclose information on trading transactions in the cryptocurrency market.Resistance levels: 17830.00, 19100.00, 20000.00.Support levels: 16800.00, 15700.00, 15000.00, ...
Today, on June 9, Ethereum developers informed the community about the successful merger of the oldest Ethereum Ropsten test network using the Proof-of-Work algorithm with the Beacon test network using the Proof-of-Stake consensus algorithm, which was one of the final test steps before the full update of the Ethereum 2.0 network.Repeated testing of the chain with Proof-of-Stake, according to the developers, will allow for a secure merger of the existing blockchain with a new version of the block network and obtain a single effective Erhereum blockchain that will not have existing problems and will open the way for the introduction of innovative ideas in the development of a decentralized financial system and the digital economy as a whole.Before the full launch of Ethereum 2.0 with the deployment of PoS, two more mergers of the Beacon network with the Goerli and Seoplia test networks are planned.The final implementation of PoS in the Ethereum blockchain, according to co-founder Vitalik Buterin, should take place in August of this year.The market reacted sluggishly to the technologically important event that took place, and investors did not show high purchasing activity.Ethereum is trading at around $1,800 with no spikes in volatility.The acute foreign policy and macroeconomic situation today has a greater impact on the mood of investors seeking to preserve their capital than the prospect of future income.Therefore, analysts do not predict a surge in volatility even with the full completion of the Ethereum 2.0 update. Volatility may arise, perhaps, only if problems arise in the network that can affect user ...
The governor of the Bank of England, Andrew Bailey, said that bitcoin is impractical as a means of payment. While cryptocurrencies are not being calculated massively. But today, large companies not only use blockchain, but also accept crypto as payment:Coca-Cola. In 2020, the corporation's Asia-Pacific division announced that it would allow customers in Australia and New Zealand to buy drinks with bitcoin and other coins. Payment is available through devices that accept digital payments.PayPal is the first payment system to add cryptocurrency for transactions. The company acts as an intermediary: the service will exchange cryptocurrency for ordinary dollars at the internal exchange rate, which already includes the cost of conversion.Visa and Mastercard, following PayPal, thought about the possibility of conducting transactions with cryptocurrencies. The systems focus on stablecoins, which have collateral in the form of real assets.Shopify is a platform for creating online stores. Thanks to the developers, the owners of these stores can accept cryptocurrency.Emirates. The airline from the UAE intends to accept bitcoins as payment. Moreover, Emirates will add its own NFT tokens to the site. This is not the first airline operating with cryptocurrencies. Latvian airBaltic has been selling tickets for the crypt for several years.Balenciaga, Gucci, Tag Heuer are also starting to accept cryptocurrency. Moreover, the new payment method will be available not only online, but also in regular stores using QR codes. And the first major retailer that started accepting the crypt was Overstock.Brazilian developer Gafisa announced that now an apartment can be bought for bitcoins. So the company wants to attract investors from other countries, and the cryptocurrency helps to transfer funds quickly and ...
Speaking at the Bitcoin 2022 conference in Miami, the president of the autonomous region of Madeira, Miguel Albuquerque, made several ambitious statements about the prospects of Bitcoin on the islands."I believe in the future and I believe in Bitcoin," Albuquerque said.He recalled that de facto, Bitcoin is already a legal means of payment on the island, since individuals in Madeira are not subject to capital gains tax when buying and selling bitcoins.The regional corporate tax rate on business on the islands is only 5% — one of the lowest in Europe, which is extremely beneficial for cryptocurrency startups.The President also met with MicroStrategy CEO Michael Taylor. He recommended that he "focus on Bitcoin. Everything else is garbage."Madeira is part of Portugal, which attracts crypto enthusiasts with its zero interest rates on cryptocurrency ...