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OFAC sanctions USDT-on-Tron wallets used by Houthis The US Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned eight crypto asset wallets tied to Yemen’s Houthi movement. Houthis assist with maritime transport and arms deals from Russia for pro-Iran groups operating in Yemen.  By making it illegal to transact with their wallets and flagging the wallets for global awareness, OFAC aims to prohibit transactions and block the liquidation of their property. All US-operated crypto exchanges and services must block access to sanctioned wallets, and it is illegal for US residents to transact with entities on OFAC’s sanctions list. OFAC has designated the Houthis, also known as Ansarallah, as a Specially Designated Global Terrorist since February 16, 2024. Today’s action adds more specificity to that designation by delineating the exact crypto wallets that exchanges and other services should block. Sanctioned crypto exchange Garantex probed over $20B USDT tra...

De-dollarization, otherwise known as the phenomenon that denotes the dumping of the US dollar on a global scale, is now a burning concept running amok among global nations. The concept is now gaining maximum steam, primarily due to the rising narratives that continue to hammer the US dollar’s prestige and valuation. The American currency is now subject to wild allegations, including its growing weaponization and ability to sanction other nations, that are primarily compelling nations to consider shifting away from the dollar. Will the dollar be able to survive this transition? Also Read: JFK Files: His War on Central Banks – Is Bitcoin (BTC) the Answer for CBDCs? Why Is the Dollar Getting Ditched? 1. Geopolitical Risks And A Brewing Trade War Source: Watcher Guru Donald Trump is now the 47th president of the United States. Trump has long proposed the idea of imposing tariffs on nations to bolster the US economy, which is now backfiring in the form of a bubbling trade war. This phenomen...

The BRICS alliance is on a quest to upend the US dollar and replace its dominance with local currencies. The shift towards settling trade in local currencies has been on the rise since the White House pressed sanctions on Russia in 2022. Developing countries are sidelining the US dollar for cross-border transactions and increasingly using local currencies for payment settlements. Also Read: India Officially Dismisses BRICS Currency, Praises the US Dollar Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The greenback stands at the crossroads of a global change that could deplete its power and control over the world’s financial markets. Such a development could wreak havoc on the American economy leading to a major shift and market collapse. Also Read: BRICS: Nobody Will Trust the US Dollar Again BRICS: Deutsche Bank Predicts US Dollar is On the Losing Side Source: Freepik.com Deutsche Bank wrote in its recent note to stakeholders ...

Over teh last two years, the BRICS economic alliance has sought to lessen its reliance on the US dollar. Although the previous Biden administration had been content with this going unchecked, that changed drastically with a new President. Yet, his challenge has drawn some criticism. Specifically, amid BRICS opposition, economists have warned that Donald Trump’s 100% tariff threats could be the most effective de-dollarization plan. Prior to his inauguration this week, Trump noted he was looking to retaliate against efforts to lessen the international prominence of the US dollar. “If BRICS nations want to do that, that’s okay,” he said. “But we’re going to put at least a 100% tariff on the business they do in the United States.” Yet, experts have warned that could come with dire ramifications. Source: Reuters / Kevin Lamarque / Pool Also Read: BRICS: China Breaks Silence on US Tensions, Trump Tariff Threat Trump Could Be Greatest Force for De-Doll...