BRICS: China & Russia Settle Oil Trade in New Currency
Trillion-dollar asset management firm VanEck recently confirmed that BRICS members China and Russia have settled oil payments using the leading cryptocurrency Bitcoin. This is a major step in advancing the de-dollarization agenda where the US dollar had a command in the oil and gas industry. “China and Russia have reportedly begun settling some energy transactions in Bitcoin and other digital assets,” wrote VanEck.
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Although the market expressed concern over the announcement of an overarching cryptocurrency reserve, a US Bitcoin Reserve strategy is still expected to be unveiled by President Donald Trump. Indeed, a new report states that the strategy is poised to be a main announcement at the White House Crypto Summit taking place on March 7th.
There are many experts who have expressed concern about the country expanding its reserve beyond Bitcoin. Speaking to CNBC, Michael Saylor projected BTC to eventually reach a $200 trillion market cap. Moreover, he noted that investment in the asset alone could solve the nation’s financial debt crisis.
US Bitcoin Reserve Strategy to Headline White House Crypto Summit
Since his return to the White House, Donald Trump has sought to overhaul the nation’s crypto policy. From the development of a crypto task force to the announcement of a new digital asset-centered summit at the White House, those efforts have been undeniable.
Now he is set to continue that. On the heels of his crypto reserve announcement, a US Bitcoin reserve strategy is still expected to be unveiled by President Trump. Moreover, it is poised to headline the White House Crypto Summit, according to a report from The Pavlovic.
US Commerce Secretary Howard Lutnick confirmed as much according to the report. He noted that the president will outline his expectations for the cryptocurrency industry under his administration. Moreover, he will include a BTC reserve strategy. Additionally, he will discuss more broad regulatory plans for the asset class.
“A Bitcoin strategic reserve is something the President’s interested in,” Lutnick said. “He spoke about it all during the campaign trail, and I think you’re going to see it executed Friday,” he added. If it comes to fruition, it could be huge for Bitcoin. The leading crypto has fallen since reaching six figures in late 2024. However, many expect that to turn around soon.
#news #binance #bitcoin Binance to Delist Tether and Other Stablecoins for EEA Users, Due to MiCA Regulations
The news of Tether’s delisting comes as the firm appoints a new CFO in a “historic step” towards a full financial audit.
Binance, the biggest centralized crypto exchange in the world, will delist nine stablecoins for those in the European Economic Area (EEA), including coins issued by Tether, as they are not compliant with the EU’s Markets in Crypto Assets (MiCA) regulations.
Starting March 31, the assets affected will be USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG, the crypto exchange said in an announcment. Binance will continue to allow anyone to withdraw or deposit these coins but encourages EEA users to convert any non-MiCA compliant stablecoins, as some features will be restricted for those tokens.
Stablecoins are cryptocurrencies that attempt to remain pegged to an asset’s price, which can include fiat currencies like the dollar, as well as other assets like gold or silver. Often, this is done by holding a reserve of the asset in which the token is pegged to.
MiCA was hailed as the most significant crypto-specific regulation when it first went into law in 2023, as it looked to provide regulatory clarity for digital assets to users in the European Economic Area—the 27 member states of the European Union plus Iceland, Liechtenstein, and Norway.
“Since the MiCA came into force fully from 2025, only MiCA licensed issuers can issue stablecoins to the residents in the EEA,” Niko Demchuk, a lawyer at compliance firm AMLBot, told Decrypt. “There are companies that have been already licensed and authorised to issue stablecoins in the EEA. For example, Circle is authorised to issue EURC and USDC.”
This explains why Circle-issued coins like USDC—the second largest stablecoin by market cap, according to CoinGecko—were not delisted by Binance. For this reason, other centralized exchanges have delisted non-compliant stablecoins, such as Coinbase Europe, which delisted Tether back in December.