News

Communist nation embraces cryptocurrency to avoid US sanctions

Published

4 years ago

August 30, 2021

This Communist country will regulate and recognise cryptocurrencies as demand grows for the digital currency

As the popularity of cryptocurrency continues to gain speed in across the world, Cuba says that it will officially recognise and regulate crypto payments.

The central bank says that it will set rules and determine how to license providers in the space. The state cited “reasons of socioeconomic interest” are behind the decision.

The move could help the Communist nation circumvent American sanctions which were enacted by former president Trump.

The fact that Cuba no longer accepts USD is major news. This is only the first domino to fall. Uncle Sam has 30 trillion of debt, and so this debt puts the USD on the cliff. Crypto is value outside of fiat. The network effect ensures the future of crypto. $crypto
— CryptoBuddha589 (@CryptoBuddha589) August 29, 2021

The decision to recognise crypto marks a historic moment

“It’s historic that they are embracing it,” Boaz Sobrado told CNBC. Sobrado is a London-based fintech data analyst, who spent four years working in crypto in Cuba.

“This is a conservative government still set in traditional Marxist ways. In fact, the communist Cuban central bank was founded by Che Guevara. The fact that they are cautiously regulating shows they are interested in what it can bring them,” Boaz said.

People participate in a rally outside the White House in Washington, Tuesday, July 13, 2021, in support of the protesters in Cuba. (AP Photo/Susan Walsh)

US-Cuba relations

Current US president Joe Biden is yet to reverse the restrictions, despite expectations that he would normalise relations with the country.

Instead, Biden has cracked down even further following government retaliation to protests in Cuba.

The state has assured that it will be keeping a tight control of crypto transactions within its borders. It also has explicitly outlined that crypto will not be used to facilitate illegal activity.

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News

Trump urges Putin to halt Kyiv attacks after casualties

Trump urges Putin to cease attacks on Ukraine following deadly missile strike on Kyiv, killing 12 and injuring 90.

Published

8 hours ago

April 25, 2025

Ahron Young

Trump urges Putin to cease attacks on Ukraine following deadly missile strike on Kyiv, killing 12 and injuring 90.

In Short

A missile and drone attack on Kyiv killed 12 and injured 90, prompting Trump to urge Putin for a peace deal amid escalating tensions.

Ukraine seeks an unconditional cease-fire, but ongoing strikes and unacceptable Russian conditions raise concerns over future peace negotiations.

In a recent missile and drone attack on Kyiv, 12 individuals were killed and 90 injured, marking the most severe air assault this year.

U.S. President Trump responded by urging Russian President Putin to halt attacks and pursue a peace agreement. He expressed concern over the loss of life, highlighting that 5,000 soldiers perish weekly.

The attack involved over 200 missiles and drones and targeted critical Ukrainian industries. Trump’s frustration has increased as peace talks stagnate, with him also critiquing Ukrainian President Zelensky for dismissing a peace proposal that would legally recognise Russian control over Crimea.

Peace deadline

Despite Trump’s previous reluctance to criticise Putin, the attack shifted his stance. He has signaled a deadline for both Russia and Ukraine to reach a peace deal while the U.S. contemplates the extent of its involvement in negotiations.

Ukraine seeks an unconditional cease-fire, but Russia’s conditions remain unacceptable to Kyiv. A recent U.S. proposal would allow Russia to retain substantial territory and would limit Ukraine’s NATO aspirations.

Zelensky accused Russian forces of terrorism, attacking civilian areas and inciting widespread destruction, while Trump acknowledged the challenges of restoring Crimea to Ukraine.

The situation continues to escalate, with ongoing strikes on civilian infrastructure, drawing international attention and condemnation. As rescue workers clear debris from the latest attack, uncertainties remain about the future of peace talks and the safety of Ukrainian citizens.

News

Trump targets migrant gangs with deportation crackdown

Trump advocates for strong immigration enforcement to restore law and order, warns against court-blocked deportations, and labels gangs as terrorist organizations.

Published

8 hours ago

April 25, 2025

Veronica Dudo

Trump advocates for strong immigration enforcement to restore law and order, warns against court-blocked deportations, and labels gangs as terrorist organizations.

Former President Donald Trump says his administration is committed to restoring law and order through aggressive immigration enforcement.

He warns that dangerous consequences could unfold if courts block mass deportations.

Trump has labelled several gangs, including Tren de Aragua, as foreign terrorist organisations, and is pushing for faster judicial cooperation.

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News

Trump considers slashing China tariffs by over 50%.

Trump considers significant tariff cuts on Chinese imports to ease tensions; negotiations continue as China remains firm.

Published

1 day ago

April 24, 2025

Ahron Young

Trump considers significant tariff cuts on Chinese imports to ease tensions; negotiations continue as China remains firm.

In a major policy shift, President Trump is exploring a significant cut to tariffs on Chinese imports — a move that could ease tensions between the two superpowers.
Talks are ongoing, and the White House suggests a new tiered approach. China, while open to negotiations, remains firm that it won’t engage under threats.

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