The Argentine judiciary yesterday suspended the labor effects of the controversial mega decree of necessity and urgency (DNU), promoted by President Javier Milei, which had entered into force on December 29, 2023.

This decree, which amended or repealed more than 300 regulations, faced a severe setback after the submission of an amparo by the General Confederation of Labor, the country’s most important workers’ union, last week.

The three judges of the Argentine Labour Appeals Chamber issued the measure, in particular nullifying the applicability of Chapter IV of the UND. This section of the decree extended the probationary period of workers from three to eight months, reduced the calculation for compensation payments, limited maternity and paternity leave, and significantly restricted the right to strike and other measures of force.

Judge Alejandro Sudera, in his decision, questioned the “necessity” and “urgence” invoked by President Milei to issue the decree.

He argued that the need for such a large number of measures was not objectively demonstrated and that there were no grounds of urgency to prevent the legislature from intervening properly in substantive legislation. This suspension marks a significant moment in the relationship between the executive and the judiciary in Argentina.

K. Tovar

Source: Bancaynegocios

(Reference image source: @EmmaRincon, X)

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La entrada Argentine justice blocked Milei’s labor decree apareció primero en Bitfinance.

The motion that requested the dismissal of the president of Peru, Dina Boluarte, was shelved until 2024 due to the recess of the Legislature at the end of this year.

Internal conflicts have recently stirred in the Latin American country regarding the dismissal and arrest in 2022 of then-president Pedro Castillo. Added to this is the population’s rejection of the current president, Dina Boluarte.

According to a survey by the Institute of Peruvian Studies (IEP), “only nine out of every 100 Peruvians approve of his performance as ruler, another 84 disapprove and the remaining seven are indifferent about his performance.”

Regarding the impeachment motion, it is important to highlight that despite being widely promoted by left-wing legislators, it did not enter into debate in Congress.

The opposition has accused Boluarte of alleged constitutional violation, invoking vacancy, because the president traveled to Brazil without leaving someone responsible in the presidential office.

Serious deficiencies have been argued in “terms of motivation and adequate procedure”, which determine its nullity.

Alejandro Soto, president of Congress, has been the subject of reproaches and described as a “coward” after announcing the decision to freeze Boluarte’s impeachment motion until March 2024.

M.Pino

With information from international media

(Reference image source: @presidenciaperu, red social X)

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La entrada Motion to remove the president of Peru is postponed until 2024 apareció primero en Bitfinance.

In a statement, the international exchange with the largest volume of transactions, Binance, announced the cessation of person-to-person (P2P) transactions involving payments in Russian rubles, as well as the suspension of deposits in that currency on its trading platform.

The Binance team officially announced that it will withdraw support for trading operations with Russian rubles via P2P as of January 31, 2024, as well as the suspension of deposits in this currency. In addition, all trading pairs on the exchange involving the Russian ruble will be suspended, forcing users to use other currencies for trading.

Users have the option to withdraw their rubles from the platform or exchange them for other cryptocurrencies before the set deadline.

The move comes amid growing regulatory pressure on Binance, which recently reached an agreement with the U.S. Department of Justice (DOJ). The agreement involves the payment of fines totalling $4.3 billion to settle irregularities and crimes committed during the administration of former CEO Changpeng Zhao.

The charges include capital flows linked to criminal activities and terrorist organizations, money laundering, and serious violations of U.S. laws in the provision of goods and services. The complaint also states that Binance facilitated the transfer of more than $400 million internationally, funds belonging to Russian banks sanctioned due to Russia’s actions against Ukraine.

The agreement provides for the payment of fines to the Treasury Department and resolves the dispute with the Commodity Futures Trading Commission (CFTC). However, the pending dispute with the Securities and Exchange Commission (SEC) is not affected by this agreement.

K. Tovar

Source: Diariobitcoin

(Reference image source: Kanchanara, Unsplash)

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La entrada Binance will close its operations with Russian rubles apareció primero en Bitfinance.

In a surprise decision, the US Treasury Department has suspended issuance of Binance’s stablecoin BUSD on US soil. The move comes amid growing concern from regulatory authorities about compliance with financial regulations by cryptocurrencies and exchanges.

Binance, one of the world’s largest cryptocurrency platforms, issued its US dollar-backed stablecoin cryptocurrency in 2019. Since then, it has become popular among cryptocurrency investors and traders, leading to an increase in volume. of negotiation.

However, the US Treasury Department expressed concern that Binance is not complying with financial regulations. The suspension comes after a lengthy investigation into the exchange and its stablecoin, which was conducted in collaboration with the US Securities and Exchange Commission (SEC).

The US Treasury Department said the measure is temporary, but has not given a specific date for the measure to be lifted. Investors and traders who already own the exchange’s stablecoin will be able to continue to use it, but new issuances will not be allowed on US soil.

K. Tovar

Source: Descifrado

(Reference image source: file)

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La entrada The issuance of BUSD is suspended in the US apareció primero en Bitfinance.

The Super Bowl 2023, which is celebrated this February 12 with the participation of the singer Rhiana to entertain the match between the Kansas City Chiefs and the Philadelphia Eagles, will not have cryptocurrency advertising.

Unlike the previous year, when crypto flooded the sports event, this year there are no announcements of these currencies due to the crisis that the market is experiencing after the bankruptcy of FTX, which dragged down other exchanges and caused damage to dozens of clients.

According to the informative signal of the event, Fox Sports, in this edition of the largest event in American football, to be held at the State Farm Stadium in Glendale, Arizona, the advertising of Bitcoin or any other cryptocurrency will be prohibited, due to the damages that This sector has suffered after the FTX scandal.

In the previous edition, crypto ads gained ground, causing many to consider the event the “Crypto Bowl”. Advertisers like eToro, Coinbase, FTX and Crypto.com marked Super Bowl 2022, paying up to $7 billion for 60 seconds on screen.

Marx Evans, executive vice president of Fox Sports, noted that the decision to cancel any cryptocurrency advertising was made after FTX went bankrupt in November last year.

M.Pino

Source: iproup

(Image reference source: Keith Johnson, Unsplash)

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La entrada Super Bowl 2023 suspends cryptocurrency advertising apareció primero en Bitfinance.

Evergrande, a Chinese real estate company, suspended the listing of its shares on the Hong Kong stock exchange, as well as its two subsidiaries: the real estate management company Evergrande Property Services and the electric vehicle manufacturer Evergrande New Energy Vehicle, due to the financial situation that The real estate giant has been reporting.

The information was provided by the Shanghainese newspaper The Paper, which also noted that “Evergrande would have closed the sale of its 30 % stake in a developer in the eastern city of Nanjing”, in Jiangsu province, but admitted that the details are unknown. Details of the transaction.

It was also learned that the real estate giant held meetings with “creditors of an onshore bond estimated at 4,000 million yuan, which is equivalent to about 628 million dollars, where it was agreed that the cancellation of interest accrued between September 2020 and 2021 would be It would take place next September 2022.

It was also released that the Evergrande company must cancel a bond listed on the Singapore Stock Exchange for an amount equivalent to 2,100 million this Wednesday, March 23, 2022.

Evergrande’s financial deficit

In the middle of last year, mistrust arose over the financial status of the real estate complex, since it had accumulated liabilities of more than 300 billion dollars. These fears increased when it began to show signs of inability to cancel the payments of its “offshore” bonds.

Agencies specializing in risk rating such as Fitch revealed, last December, that Evergrande and other Chinese developers such as Kaisa were not paying their debts abroad. The financial situation of many Chinese real estate companies worsened after Beijing announced, in August 2020, the restrictions on access to bank financing for companies that had accumulated a very high debt, as is the case of Evergrande, which for years were supported with “aggressive leverage policies.”

M. Rodríguez

Source: bancaynegocios.com

La entrada Evergrande suspends listings on the Hong Kong stock exchange apareció primero en Bitfinance.