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The Central Bank of Russia’s long-term strategy for 2026 to 2028 paints a picture of growing concern. The document, prepared […] The post Russia’s Central Bank Prepares Crackdown on Crypto in New 2026–2028 Strategy appeared first on Coindoo.

The post Scott Bessent says yuan drop against euro is Europe’s problem, not America’s appeared on BitcoinEthereumNews.com. U.S. Treasury Secretary Scott Bessent said in Madrid on Thursday that the slump in China’s currency isn’t a problem for the United States, it’s Europe that should be worried. Speaking during a joint interview with Reuters and Bloomberg, Scott made the comments after meetings with Chinese Vice Premier He Lifeng as part of the U.S.-China trade discussions, which also included talks on TikTok. He made it clear that the yuan, also known as the renminbi, has actually strengthened against the U.S. dollar this year, but collapsed to a record low against the euro. “The RMB is actually stronger this year versus the dollar. Now it’s at an all-time low versus the euro, which is a problem for the Europeans,” Scott, rejecting the idea that Beijing was trying to devalue its currency to gain an unfair edge against Washington. He said Chinese officials haven’t tried anything of the sort with the U.S. and explained the reality behind the currency’s movement: “It’s a closed currency. So they manage the level.” Yuan collapse helps Chinese exports flood europe Since January, the yuan has plunged from 7.5 per euro to over 8.4, triggering concerns across Europe. Meanwhile, against the dollar, it’s gained slightly from 7.3 to 7.1. This divergence has created a lopsided trade dynamic, because while the U.S. has seen its imports from China drop 14% due to aggressive tariffs, Europe has recorded a 6.9% increase in trade with China. So, Scott said the U.S. tariffs are doing what they were meant to do, cutting down the trade deficit. But the redirected flow of Chinese goods is now landing in European markets instead, where the yuan’s weakness is making Chinese exports even cheaper in euro terms. The weakening of the yuan is hitting Europe at a sensitive time, as the European Central Bank…