WhiteBIT has secured Virtual Asset Service Provider (VASP) licenses in Croatia, Italy, and Kazakhstan, enhancing its presence in key crypto markets. This strategic move allows the exchange to tap into nearly $1 trillion in annual crypto transactions, catering to both institutional and retail clients. CEO Volodymyr Nosov emphasized the importance of regulatory partnerships in fostering innovation while ensuring compliance.
Iran is grappling with rolling power outages, which local officials suspect may be exacerbated by unauthorized Bitcoin mining exploiting subsidized electricity. The surge in Bitcoin's price has intensified scrutiny on the energy demands of these operations, as the country struggles with aging infrastructure and increasing power needs. President Masoud Pezeshkian has called for accountability and transparency regarding the situation, highlighting the challenges in tracking illicit mining activities.
Dmitry V., the former CEO of the crypto exchange WEX, was arrested in Poland on December 9, 2024, following a U.S. extradition request. He faces charges related to fraud and money laundering linked to WEX's operations, which processed over $9 billion before its 2018 collapse. This arrest marks a significant step in the ongoing investigation into his alleged criminal activities during his tenure.
Donald Trump's pro-Bitcoin stance could position the US as the 'crypto capital of the world,' igniting a tokenization race between developed and emerging markets. While major financial institutions focus on tokenization for institutional investors, smaller economies like El Salvador may leverage Bitcoin to create more inclusive, streamlined capital markets. This shift could disrupt traditional finance, allowing broader participation and reducing reliance on legacy systems.
Danish brewer Carlsberg is selling its Russian unit, Baltika Breweries, to local firm VG Invest for $322 million, following the lifting of state control by President Putin. The deal, which includes cash and shareholdings in Carlsberg Azerbaijan and Kazakhstan, comes after Carlsberg accused the Russian government of "stealing" its business. Carlsberg's CEO stated this outcome is the best possible given the circumstances, while analysts noted that companies that exited the Russian market early fared better.
Kazakhstan has raised its benchmark interest rate to 15.25% from 14.25%, marking the first increase since 2022. This decision comes amid concerns that a declining national currency could lead to a further rise in inflation, despite economists' expectations for no change.
China will begin restricting tungsten exports on December 1, as demand for non-China sources rises amid U.S.-China tensions. While the U.S. has increased tariffs on Chinese tungsten, projects in South Korea and the U.S. are set to boost production, potentially stabilizing prices in the future.
Kazakhstan's central bank is intervening in the market to address the tenge's decline, which has reached its lowest point since March 2022. Officials aim to prevent destabilizing fluctuations, ensure a stable foreign-currency supply, and restore a fair exchange rate. The National Bank is prepared to continue these interventions to maintain normal currency market operations.
A record 221 fossil fuel lobbyists are participating in the UN talks in Busan aimed at establishing a global treaty to combat plastic pollution, with significant opposition to production curbs from oil and gas-producing nations. Despite widespread support for manufacturing limits among most countries, resistance from a powerful minority threatens to derail the negotiations. Concerns over corporate influence echo criticisms of fossil fuel lobbyists' access to climate discussions, raising alarms about the integrity of the treaty process.
UAE clean energy leader Masdar is ramping up investments in renewable projects across multiple countries, including Azerbaijan, Kazakhstan, Uzbekistan, and Malaysia, aiming for 100GW capacity by 2030. Recent agreements include a 1GW wind farm in Kazakhstan and a floating solar project in Malaysia, alongside partnerships in the Belt and Road Initiative. Additionally, Masdar is utilizing AI technology at its Zarafshan wind farm in Uzbekistan to protect local bird species.
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