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Musk: Teslas electric semi-truck will begin mass production this year.February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.US President Trump: The US election is full of fraud and theft, and has become a laughing stock around the world.Market news: Multiple explosions were heard in Kyiv, the capital of Ukraine.

Cuba Allows Cryptocurrency Services but Requires A License From the Central Bank

Cory Russell

Apr 28, 2022 09:50

After approving the personal use of cryptocurrencies last year, the Cuban central bank released rules for virtual asset service providers on Tuesday, a move that some experts believe might help the Communist-run Caribbean island avoid hefty US penalties.


Cryptocurrencies, which enable financial transactions to be carried out anonymously and decentralized, have previously been used to circumvent capital regulations and improve the efficiency of payments and transfers.


Those intending to use cryptocurrencies must get a license, according to the bank authorisation, which was published in the government's official gazette on Tuesday.


Before giving a license, the bank said it would assess the legality, socioeconomic interest, and project features of every request. The license would be valid for one year at first.


The introduction of mobile internet three years ago paved the path for cryptocurrency transactions in Cuba, and the number of cryptocurrency fans on the island is rising as the currencies assist the nation overcome difficulties posed by US sanctions.


Cubans are blocked off from traditional international payment systems and financial markets by the US trade embargo, which has been in place for decades. On the island, Cubans are unable to get credit or debit cards for foreign usage, and they struggle to do so overseas.


"If the central bank is developing a cryptocurrency-friendly legislative framework, it is because they have already concluded that it may help the nation," said Pavel Vidal, a former Cuban central bank economist who now teaches at the Pontificia Universidad Javeriana Cali in Colombia.


El Salvador, the first nation in the world to embrace bitcoin as legal cash, is one of Cuba's Latin American neighbors to be interested in cryptocurrencies.


Vidal said he doubted Cuba would follow El Salvador's lead and adopt bitcoin as its currency of choice or create its own cryptocurrency, instead preferring to focus on enabling remittances and international foreign trade activities.


"This may lower the cost of these international transactions and provide an alternative to dollar-based operations that are less susceptible to sanctions," he added.

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