The principal shareholder and co-founder of the Hong Kong-registered virtual currency exchange Bitzlato Ltd. was detained, according to US officials, on Wednesday for allegedly handling $700 million in illegal money. Russian native Anatoly Legkodymov, who resides in China, was detained on Tuesday in Miami on suspicion of running an unregistered money exchange company that “in […]
The country’s finance minister said on Tuesday that Saudi Arabia may examine trading in currencies other than the US dollar, one of the strongest indications yet that the oil-rich kingdom is open to diversifying away from the currency. Whether it is in the US dollar, the euro, or the Saudi riyal, addressing how we pay […]
The currency had its worst decline since the Central Bank of Egypt devalued the pound in late October in an attempt to seal the IMF agreement, falling 6% to 26.4 to the US dollar. Wednesday’s decline coincides with the blocking of billions of dollars’ worth of shipments at Egyptian ports due to local banks’ inability […]