A report from El Salvador’s central bank shows that only 11% of registered Bitcoin service providers are currently operational.
Out of 181 companies listed, just 20 meet the country’s legal standards set under its Bitcoin Law, according to local outlet El Mundo.
The law, which made Bitcoin legal tender, requires firms to implement anti-money laundering measures and record assets and liabilities accurately. It also mandates that companies establish cybersecurity programmes tailored to the nature of their services.
However, 89% of providers have failed to comply with these rules and remain non-operational. Some companies, including the government-backed Chivo Wallet, Crypto Trading & Investment, and Fintech Américas, have managed to meet the legal criteria.
President Nayib Bukele has insisted the government will continue buying Bitcoin despite the IMF’s request to halt public sector purchases.
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In a move to ease tensions in the tech industry, the US government has announced updates to its tariff guidelines. The updates offer exemptions for certain products, such as laptops, smartphones, and semiconductor machines.
These exclusions provide temporary relief to tech giants like Apple, which faced substantial challenges due to the threat of steep tariffs on their products. Apple, which manufactures the majority of its products in China, particularly iPhones, could have seen prices rise by up to 85% if tariffs were enforced.
China’s Ministry of Commerce acknowledged the exemptions as a small step but reiterated criticism of US tariffs, claiming they disrupt the global economy. The US has shown no intention of backing down, leaving future moves uncertain.
The latest tariff exemptions boosted cryptocurrency markets, with Bitcoin hitting $86,000. While offering short-term relief, long-term impacts on trade and tech remain unclear.
Companies like Apple still rely on China, while critics highlight Trump’s shift from ‘no exemptions’ to multiple exceptions.
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The Swiss franc and gold are currently leading the pack as safe-haven assets amid ongoing stock and bond market turmoil.
The Swiss franc has soared, outperforming many currencies, including the US dollar, which has dropped to 2018 lows.
The surge is mainly attributed to Switzerland’s long-standing neutrality and banking secrecy laws. These factors have made the country a financial safe haven for many years.
Gold has also seen impressive gains, reaching a record high of $3,240. The precious metal has risen by 125% since the pandemic lows and by 24% this year alone. In comparison, Bitcoin has failed to keep pace. Its price dropped from an ATH of $109,300 to $83,000, reflecting broader market concerns.
The Swiss National Bank (SNB) has also benefited from its substantial investments in top American companies and US Treasury bonds.
Despite rising recession fears and US-China trade tensions, gold and the Swiss franc are outperforming Bitcoin, US bonds, and stocks.
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Sweden may soon follow the lead of other nations by considering Bitcoin for its national reserves.
In a formal letter, Member of Parliament Rickard Nordin urged the Finance Minister to diversify Sweden’s foreign exchange reserves with Bitcoin.
He cited Bitcoin’s growing role as a hedge against inflation and highlighted its political significance in supporting freedom under authoritarian regimes.
Nordin’s call aligns with a broader international debate. Countries like El Salvador and Bhutan already hold Bitcoin in their treasuries. Some, like the US, plan to build reserves using Bitcoin confiscated in criminal cases, rather than purchasing it directly.
Despite growing political interest, Sweden’s regulatory stance remains cautious. Authorities have cracked down on crypto tax evasion, with 18 of 21 Bitcoin miners found to have submitted false tax returns. These false submissions resulted in nearly $90 million in taxes being evaded.
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China and Russia have reportedly started using Bitcoin for settling certain energy transactions. It is a development that signals a shift away from the US dollar in global trade.
The move comes amid growing trade tensions and increasing interest in decentralised digital assets. According to Matthew Sigel, Head of Digital Assets Research at VanEck, Bitcoin’s role in trade is evolving beyond speculation.
The report highlights a growing trend of using digital assets in practical commerce, particularly in energy markets. Bitcoin’s neutral and decentralised nature makes it an appealing option for countries facing financial restrictions.
The shift may reinforce Bitcoin’s role as a hedge against monetary instability as international players are seeking alternative settlement methods.
Bolivia also plans to use cryptocurrency for power imports, while EDF is exploring Bitcoin mining to monetise surplus electricity.
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Michael Saylor’s firm, Strategy, may be forced to sell part of its Bitcoin reserves to meet mounting financial obligations. A recent filing warned that the company may struggle to meet obligations without new equity or debt funding.
Strategy holds over 528,000 BTC, acquired for more than $35 billion at an average price of $67,458. Despite this, the company expects an unrealised loss of nearly $6 billion in Q1 2025.
With $8 billion in debt, $35 million in annual interest, and $150 million in dividends, the firm faces significant pressure.
In March, Strategy announced plans to raise $2.1 billion through a perpetual preferred stock offering an 8% dividend. It would fund company operations and allow further Bitcoin purchases. Still, its future hinges on Bitcoin’s market performance.
Bitcoin is currently trading around $76,000, down 10% over the week. While Trump’s tariffs have affected market sentiment, analysts suggest Bitcoin could reach $110,000 as global interest rates fall.
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James A. Murphy, known online as ‘MetaLawMan,’ has filed a lawsuit against the US Department of Homeland Security (DHS). The legal action aims to uncover documents that could potentially reveal the identity of Satoshi Nakamoto, the elusive creator of Bitcoin.
The lawsuit, filed in a DC District Court, follows a 2019 statement by DHS Special Agent Rana Saoud. She suggested the agency had identified and interviewed four individuals involved in the creation of Bitcoin at a California conference.
Murphy is seeking internal DHS records, such as emails and notes from the meeting, after his FOIA requests went unanswered. He argues that the identity of Nakamoto has become increasingly important.
It is particularly true with the rise of Bitcoin ETFs and a recent executive order from President Donald Trump, which established a strategic Bitcoin reserve.
The identity of Nakamoto has remained one of the biggest mysteries in the cryptocurrency world. Despite ongoing speculation, no one has conclusively identified the person or group behind the pseudonym.
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In a dramatic escalation of the US-China trade war, Trump threatened to raise tariffs on Chinese imports. He announced on Truth Social that China would face a 50% tariff unless it removed retaliatory measures by 8 April 2025.
These measures would push the total tariffs on Chinese goods to 104%. The specific items, like automobiles and electronics, should face even higher rates.
The US has already imposed a 54% tariff on Chinese goods. China retaliated with 34% tariffs on US products. It has led to rising concern in both stock and crypto markets.
Since the announcement of the ‘Liberation Day’ tariff increase, average US tariffs on foreign goods have reached 18.8%. As a result, the crypto market has lost $1 trillion in value. Traders are fearing rising inflation and negative economic consequences.
However, some traders remain optimistic, believing that Trump’s tariffs are a negotiating tactic rather than a long-term measure. Recent polling on Polymarket shows that 59% of traders expect Trump to reduce most tariffs by July.
Bitcoin’s price spiked to $81,119 following the announcement, only to fall back to $78,321 as traders await further developments.
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Billionaire investor Ray Dalio has warned that the recent market turbulence is part of a larger global crisis. The turmoil has been triggered mainly by President Trump’s tariff policies.
In a new statement, Dalio described the situation as a ‘once-in-a-lifetime’ breakdown of the global order. He emphasised that this disruption is driven by forces far beyond short-term market volatility.
Dalio pointed to five key forces reshaping the world. These include unsustainable debt, domestic political unrest, shifts in global power, environmental challenges, and the rise of technologies like AI.
He stressed that tariffs are just a symptom of larger systemic issues. One key issue is the imbalance between debtor nations, such as the US, and creditor nations like China.
The relationship between cryptocurrency markets and equities has become more intertwined. Bitcoin, in particular, has shown increased sensitivity to macroeconomic factors. It may decouple from risk assets, outperforming tech stocks despite rising yields and inflation fears.
As global financial and political structures continue to unravel, markets are likely to face more widespread disruptions.
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Since February 19, US stock markets have suffered a massive $11 trillion loss, with the downturn worsening after President Donald Trump announced his new tariff policy.
The market lost $3.25 trillion on 4 April alone. The amount surpassed the entire global cryptocurrency market valuation, which stood at $2.68 trillion at the time.
Major tech stocks were among the hardest hit, with Tesla falling 10.42%, and Nvidia and Apple dropping 7.36% and 7.29%. The broad sell-off pushed the Nasdaq 100 down 6%, officially entering bear market territory.
Analysts have pointed to Trump’s 2 April tariff policy as a key factor. They warned that continued tariffs could lead to an unavoidable recession. The new tariffs include a 10% levy on imports and reciprocal tariffs to address trade imbalances.
While traditional markets are reeling, Bitcoin has shown resilience. Some analysts view Bitcoin’s stability as a potential hedge against macroeconomic instability.
Bitcoin commentator Anthony Pompliano suggested the Trump administration might be causing market turmoil. It is seen as an effort to pressure the Federal Reserve into lowering interest rates, crucial for managing US debt.
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