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Vulnerable economies are turning to cryptocurrencies

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As the world deals with a suite of economic hardships, people are turning to digital currencies bear the brunt

Major events are trickling down and having vast effects on global economies.

These events—like the supply chain crunch, conflict in Ukraine, and the ongoing pandemic—have forced entire economies, businesses and populations to rethink their economic strategy.

In some instances, vulnerable societies have rapidly turned to cryptocurrencies in a desperate bid to get rich quick.

The use of cryptocurrencies increased exponentially during the Covid-19 pandemic, including in many developing countries.

But recent analysis from the United Nations Conference on Trade and Development (UNCTAD) has found if cryptocurrencies become widely used, they could jeopardise the monetary sovereignty of some countries.

Ukraine tops the list for the greatest share of the population who owns cryptocurrency. Russia and Venezuela come in second and third spot respectively.

In most cases, people own these digital coins as a speculative asset. This means users are banking on their investments becoming more valuable in the future.

But this is raising concerns among researchers, like Dr Peter Howson (Northumbria University), and digiconomist Alex de Vries.

In a recent paper, published in Energy Research & Social Science, the pair found “the unsustainable trajectory of some cryptocurrencies disproportionately impacts poor and vulnerable communities.”

For example, the world’s most popular cryptocurrency Bitcoin, requires the same amount of energy as Thailand.

While this thinking tends to refer to the environmental footprint of cryptocurrencies, the researchers also found “cryptocurrency producers and other actors take advantage of economic instabilities, weak regulations, and access to cheap energy and other resources.”

In some cases, government officials have taken the plunge and entered into the cryptoverse. On the second day of the war in Ukraine, the country’s Digital Transformation Minister reportedly asked his team to arrange government wallets for cryptocurrency payments.

Likewise, Afghanistan also turned to cryptocurrencies when the Taliban seized control in August 2021.

“The central bank gave us an order to stop all money changers, individuals, and businesspeople from trading fraudulent digital currencies like what is commonly referred to as Bitcoin.”

Sayed Shah Saadaat, the police headquarters

However, the Taliban has enforced a nationwide ban on these coins, with some Afghans getting arrested for defying the ruling.

Preying on the poor

The United Nations is pushing for the regulation of cryptocurrencies, restrictions on advertising, and a safe, reliable and affordable public payment system to suit the digital era.

It makes sense because some of the world’s poorest and most vulnerable people are likely to be those disproportionately impacted by proof-of-work cryptocurrency mining.

“Recent digital currency shocks in the market suggest that there are private risks to holding crypto, but if the central bank steps in to protect financial stability, then the problem becomes a public one.”

United Nations Conference on Trade and Development

Unlike fiat currencies—like the dollar, pound, or euro—cryptocurrencies are not issued by national governments.

They also eliminate banks and put power in the hands of entire populations.

In El Salvador and the Central African Republic, the national governments have adopted Bitcoin as legal tender.

Other countries, like Nigeria are looking at the representation of digital currencies in the form of a central bank.

Despite concerns about the mismanagement of these digital assets, they appear like they’re here to stay.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Trump warns of Iran conflict: What it means for global markets

Trump warns the Iran conflict may last weeks, raising concerns over regional stability and global economic impacts.

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Trump warns the Iran conflict may last weeks, raising concerns over regional stability and global economic impacts.


As tensions rise in the Middle East, President Trump has warned that the campaign against Iran could last weeks. Economists and investors are now asking how a prolonged conflict might impact both regional stability and the global economy.

Professor Tim Harcourt from UTS talks about the economic implications of the Iran conflict, including trade disruptions, oil price volatility, and the ripple effects on markets worldwide.

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#IranConflict #GlobalEconomy #MiddleEast #OilPrices #IndiaIsrael #TradeDynamics #EconomicForecast #TickerNews


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Iran’s exiled crown prince is touting himself as a future leader

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Iran’s exiled crown prince is touting himself as a future leader. Is this what’s best for the country?

Simon Theobald, University of Oxford; University of Notre Dame Australia

As Iranian and US diplomats meet in Geneva for crucial negotiations to avoid a potential war, opposition groups in exile are sniffing an opportunity.

The Islamic Republic faces its greatest political crisis since its inception. US President Donald Trump is threatening an imminent attack if Iran doesn’t capitulate on its nuclear program. And anti-regime protesters continue to gather, despite a brutal government crackdown that has killed upwards of 20,000 people, and possibly more.

Talk of a future Iran after the fall of the Islamic regime has grown increasingly fervent. And buoyed by cries heard during some of the protests in Iran of “long live the shah” (the former monarch of Iran), the voices of royalists in the Iranian diaspora are everywhere.

But is a return of the shah really what Iranians want, and what would be best for the country?

What are the monarchists promising?

Iran’s monarchy was ancient, but the Pahlavi dynasty that last ruled the country only came to power in 1925 when Reza Khan, a soldier in the army, overthrew the previous dynasty.

Khan adopted the name Pahlavi, and attempted to bring Iran closer to Western social and economic norms. He was also an authoritarian leader, famous for banning the hijab, and was ultimately forced into exile by the British following the Anglo-Soviet invasion of Iran in 1941.

His son, Mohammad Reza Pahlavi, attempted to continue his father’s reforms, but was similarly authoritarian. Presiding over a government that tolerated little dissent, he was ultimately forced out by the huge tide of opposition during the Islamic Revolution of 1979.

Now, the exiled crown prince, 65-year-old Reza Pahlavi, is being touted by many in the diaspora as the most credible and visible opposition figure to be able to lead the country if and when the Islamic Republic collapses.

Pro-monarchy groups such as the US-based National Union for Democracy in Iran (NUFDI) have become vocal supporters of Pahlavi.

In early 2025, the NUFDI launched a well-coordinated and media savvy “Iran Prosperity Project”, offering what the group claimed was a roadmap for economic recovery in a post-Islamic Republic Iran. Pahlavi himself penned the foreword.

Then, in July, the group released its “Emergency Phase Booklet”, with a vision for a new political system in Iran.

Although the document is mostly written in the language of international democratic norms, it envisions bestowing the crown prince with enormous powers. He’s called the “leader of the national uprising” and given the right to veto the institutions and selection processes in a transitional government.

One thing the document is missing is a response to the demands of Iran’s many ethnic minority groups for a federalist model of government in Iran.

Instead, under the plan, the government would remain highly centralised under the leadership of Pahlavi, at least until a referendum that the authors claim would determine a transition to either a constitutional monarchy or democratic republic.

But students of Iranian history cannot help but note echoes of the 1979 Islamic Revolution. Ayatollah Ruhollah Khomeini had promised a more democratic Iran with a new constitution, and without himself or other clerics in power.

After the revolution, though, Khomeini quickly grasped the reigns of power.

Online attacks against opponents

Pahlavi and his supporters have also struggled to stick to the principles of respectful debate and tolerance of different viewpoints.

When interviewed, Pahlavi has avoided discussing the autocratic nature of his father’s rule and the human rights abuses that occurred under it.

But if Pahlavi tends to avoid hard questions, his supporters can be aggressive. At the Munich Security Conference in February, British-Iranian journalist Christiane Amanpour interviewed the crown prince.

Christiane Amanpour’s interview with Reza Pahlavi.

After the interview, Amanpour’s tough questions resulted in an explosion of anger from his supporters. In a video that has been widely shared on X, royalists can be seen heckling Amanpour, saying she “insulted” the crown prince.

In online forums, the language can be even more intimidating. Amanpour asked Pahlavi point-blank if he would tell his supporters to stop their “terrifying” attacks on ordinary Iranians.

While saying he doesn’t tolerate online attacks, he added, “I cannot control millions of people, whatever they say on social media, and who knows if they are real people or not.”

Do Iranians want a monarchy?

As I’ve noted previously, the monarchist movement also talks as though it is speaking for the whole nation.

But during the recent protests, some students could be heard shouting: “No to monarchy, no to the leadership of the clerics, yes to an egalitarian democracy”.

The level of support for the shah within Iran is unclear, in part because polling is notoriously difficult.

A 2024 poll by the GAMAAN group, an organisation set up by two Iranian academics working in the Netherlands, attempted to gauge political sentiment in Iran. Just over 30% of those polled indicated Pahlavi would be their first choice if a free and fair election were held.

But the poll doesn’t indicate why people said they wanted to vote for him. It also showed just how fragmented the opposition is, with dozens of names getting lower levels of support.

The future of Iran is very unclear at the moment. Even if the Islamic Republic were to be dislodged – a very big “if” – the transition could very well be chaotic and violent.

Would Pahlavi make a good leader? For many critics, his behaviour, and that of his supporters, call into question the royalists’ promises of a more liberal and tolerant Iran.The Conversation

Simon Theobald, Research Fellow, University of Oxford; University of Notre Dame Australia

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Tropfest sparks debate with controversial AI-generated short film

Tropfest sparks debate over AI-generated films, impacting creativity and traditional filmmaking in the festival circuit. #AIinFilm

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Tropfest sparks debate over AI-generated films, impacting creativity and traditional filmmaking in the festival circuit. #AIinFilm


Tropfest, the world’s largest short film festival, caused a stir in Sydney with the screening of a controversial AI-generated short film. The festival’s decision has reignited debates over the role of artificial intelligence in filmmaking and the impact on creative industries.

Filmmakers and audiences are divided. Some praise the innovation, while others question whether AI films should compete alongside human-directed works. The controversy also raises questions about jobs, creative ownership, and ethical considerations in using AI.

Darren Woolley from TrinityP3 weighs in on whether AI could become a legitimate creative partner or if it risks undermining traditional storytelling.

The Tropfest inclusion may mark a turning point for film festivals worldwide in how they embrace or regulate AI content.

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#AIinFilm #Tropfest2026 #ShortFilms #FilmFestivalDebate #AIFilmmaking #CreativeFuture #DigitalCinema #FilmInnovation


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