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Iran's military said it had closed the Strait of Hormuz in response to continued Israeli military strikes in Lebanon; the U.S. said it remains open.
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Mideast Live Updates: New Round of U.S.-Iran Talks Set to Start in Switzerland The New York TimesVance arrives in Switzerland as fighting in Lebanon threatens to derail talks CNNIranian, US negotiators in Switzerland to sort out details to end the war Australian Broadcasting CorporationIran war live: US, Tehran set to hold high-level talks in Switzerland Al Jazeera
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Iran says it is closing Strait of Hormuz, testing fragile agreement with U.S. The Washington PostIran reportedly closes Strait of Hormuz again as Vance heads to Switzerland for talks CNBCIran says Strait of Hormuz is closed over ceasefire violations after continued Israeli strikes in Lebanon NBC NewsNew Strait of Hormuz Closure Announcement Threatens the Slow Uptick in Traffic The New York Times
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US-Iran talks to kick off Sunday in Switzerland, says Pakistan Al JazeeraIran negotiators head for Switzerland but Lebanon fighting continues ReutersVance Heads to US-Iran Talks With Status of Hormuz in Question Bloomberg.comTrump envoys arrive in Switzerland for Iran talks planned for Sunday Axios
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Disruption. It's coming for the U.S. dollar in the form of digital currency. Last week the Biden administration detailed a broad plan for adopting a central bank digital currency (CBDC) in the coming years. The Departments of Energy, Commerce, the Treasury, and other agencies weighed in on how to manage and regulate a CBDC.
The government is reacting in part to the explosive growth of digital currencies. About three out of ten U.S. adults currently invest in some form of cryptocurrency, or "crypto," like Bitcoin or Ethereum. These digital "coins" rely on a decentralized network of computers to verify financial transactions, cutting out third parties like banks or credit cards.
The good, the bad, and the ugly of crypto
Advocates of crypto point to its affordability, efficiency, and its ability to reach consumers with little or no access to traditional banking services. With just a mobile phone or a crypto ATM, consumers can easily send and receive digital currency, even across international borders.
On the other hand, crypto is still largely unregulated and volatile. Investors in Bitcoin, for example, saw returns of over 70% in 2021, but the currency is down almost 60% year to date. And if you send your payment to the wrong account (called a "digital wallet") there may be no way to retrieve it. Crypto has also been used for money laundering, fraud, and to fund terrorism. Several
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