BITCOIN

Petrochina, the largest Asian oil and gas producer, has completed a settlement using the Chinese central bank digital currency (CBDC), the digital yuan. The operation, which involved a purchase of 1 million crude barrels through the Shanghai Oil and Gas Trading Center platform, marks the first time the digital yuan has been used as payment in the commodities market. Petrochina Completes First Commodities Settlements Using the Digital Yuan Petrochina, one of the largest Asian oil and gas companies, has announced the purchase of one million crude barrels using the digital yuan. The company, headquartered in Shanghai under the control of the China National Petroleum Corporation (CNPC), used the Shanghai Oil and Gas Trading Center platform to complete this purchase, which enabled the use of the digital yuan to complete commodities transactions. The landmark settlement represents an advancement in the use of the digital yuan for commodity payments, as it is the first time that China ha...

Mexican billionaire Ricardo Salinas sees bitcoin as a way to protect against inflation tax because the cryptocurrency cannot be debased. “People’s savings are being taken from them without their permission, without their knowledge,” he stressed, adding that “everybody would benefit from understanding that the debasement of currency is a very useful trick in the fraudsters’ trick book to avoid raising taxes or debt.” Ricardo Salinas on Benefits of Bitcoin Ricardo Salinas, chairman of Grupo Salinas, discussed how bitcoin can affect an economy, particularly in Latin America, in an interview with Bitcoin Magazine, published Friday. “All over the world, not just in Mexico or Latin America, what we’re seeing is this increasing inflation tax, which means that the people’s savings are being taken from them without their permission, without their knowledge, and it’s very sad, especially for people who depend on this for their retirement,” he began, adding: So bitcoin is a way to protect a...

Billionaire Elon Musk, the CEO of Tesla and Spacex, has underscored the need for “comprehensive deregulation.” He made this call in response to several actions by the U.S. Securities and Exchange Commission (SEC) that he believes are severely constraining our civilization. This comes after his prediction of a “comprehensive overhaul” of the SEC with 100% probability. Elon Musk: Comprehensive Deregulation Needed Tesla and Spacex CEO Elon Musk has emphasized the need for “comprehensive deregulation.” This followed his prediction that the U.S. Securities and Exchange Commission (SEC) will undergo a “ comprehensive overhaul ” with 100% probability. In a recent post on his social media platform, X, the billionaire stated: “There needs comprehensive deregulation. Period.” Musk’s statement came as the SEC is overreaching in several areas, including crypto . Numerous U.S. lawmakers, regulators, businesses, and individuals have voiced concerns regarding the SEC’s actions. There is even a b...