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Currencies

The Autonomous Administration of North and East Syria: Insights on Currency Policies

2024-11-19

The Autonomous Administration of North and East Syria has recently made significant announcements regarding currency transactions. This article delves into the details of these policies and their implications.

Unraveling the Currency Restrictions in Autonomous Syria

Allowed Dollar Trading for Business

The Autonomous Administration of North and East Syria (AANES) has clearly stated that trading in dollars for business purposes is permitted. Even at the grassroots level of grocery stores and small buying and selling operations, this option is available. Shop owners have the right to sell goods in US dollars and return the remaining amount in either dollars or Syrian pounds. This shows the flexibility provided in certain business transactions while maintaining a certain level of control over the currency. It gives local businesses a certain degree of autonomy in their financial dealings and helps in facilitating trade within the region.However, it is important to note that currency exchange and transfers are strictly prohibited without obtaining the necessary licenses. This ensures that the financial system remains regulated and stable. The co-chair of the Anti-Money Laundering and Terrorism Financing Directorate at the Central Monetary and Payment Office, Khalil al-Dhiab, emphasized this point on Tuesday, November 19. He made it clear that while businesses can engage in dollar transactions, they must not violate the laws regarding currency exchange and transfer.

Prohibition of Unlicensed Currency Activities

AANES prohibits the practice of currency exchange and financial transfers without obtaining a license from the Central Monetary and Payment Office. This is a crucial measure aimed at maintaining the financial system in northeastern Syria. According to a previous circular issued with the number “70”, this prohibition is in line with the directives set by the administration. The prohibition is part of a larger effort to ensure the stability and integrity of the local currency.Al-Dhiab clarified that violating these regulations will lead to legal consequences. Those found engaging in currency exchange and financial transfers without a license will be referred to the public prosecution. This serves as a deterrent and emphasizes the seriousness with which the administration views these matters.AANES also periodically reminds of its decision issued at the beginning of this year. Yesterday, Monday, it published a circular stating the prohibition of work in the currency transfer and exchange sectors in its controlled areas without obtaining the necessary licenses. This circular is an extension of a previous one issued in August 2023, which granted a grace period for currency exchange and financial transfer offices to obtain a license allowing them to operate. The administration has been proactive in ensuring that these regulations are adhered to and has taken steps to enforce them.

Previously Issued Laws and Restrictions

In August, AANES issued the Precious Metals Law, which prohibited the trade or manufacture of precious metals and gemstones without obtaining a license from the Precious Metals Directorate at the Central Monetary and Payment Office. The office will later issue instructions specifying the terms and conditions for the license. This law further emphasizes the administration's commitment to regulating and controlling various aspects of the economy. The license needs to be renewed annually before the end of each year, as per the instructions to be issued by the Monetary and Payment Office.In September, the Autonomous Administration restricted the movement of money to and from its controlled areas. The decision to prevent the transfer of money to and from these areas, which was issued about a year ago, aims to maintain monetary stability. Khalil al-Dhiab, the head of the Anti-Money Laundering and Terrorism Financing Office, stated that these instructions related to the transfer of money across borders were issued to preserve the monetary stability of the local currency. This shows the administration's focus on safeguarding the financial well-being of the region.Overall, these currency policies implemented by the Autonomous Administration of North and East Syria play a crucial role in maintaining the stability and integrity of the local economy. By regulating currency transactions and imposing restrictions on unlicensed activities, the administration is taking steps to ensure a sustainable financial future for the region.

Bitcoin made an astonishing leap today, surging above $94,000 and establishing a brand new all-time high. This significant milestone comes as spot bitcoin ETF options have officially become live on Nasdaq. The demand for this product from traders has been extremely strong, marking a major development in the cryptocurrency market.

Unlock New Horizons in Bitcoin Trading with Nasdaq's Spot ETF Options

Bitcoin's Historic Ascent

Bitcoin {{BTC}} achieved new highs on Tuesday, driven by the rollout of Nasdaq's latest offering - options trading on spot bitcoin exchange-traded funds (ETFs). At the present moment, the top crypto is trading at a value above $94,000, experiencing a growth of more than 4% in the past 24 hours. This break surpasses its previous record of $93,450, which was set on November 13. The impact of this upward trend is clearly visible in the cryptocurrency market.During this time, the CoinDesk 20, an index comprising the top 20 cryptocurrencies by market capitalization (excluding stablecoins, memecoins, and exchange tokens), has seen a modest increase of about 0.3%. Among the components of this index, {{HBAR}} emerged as the biggest winner, rising by 9%, while {{POL}} took the position of the biggest loser, declining by 0.8%.Options contracts provide investors with the opportunity to buy or sell an asset at a specific price and within a predetermined time frame. Although the CME already offered bitcoin options, the availability of spot bitcoin ETF options holds great significance for both retail participants and financial institutions. As stated by Noelle Acheson, the former head of market insights at Genesis, "A deeper onshore derivatives market will enhance the growing market sophistication. This will reinforce investor confidence in the asset, bringing in new cohorts while enabling a greater variety of investment and trading strategies."

The Attraction for Institutions

Institutions are being drawn to the greater flexibility and access to high-volume exposure that spot bitcoin ETF options offer. As Acheson added, "Options offer deeper granularity in expressing an investment opinion, and can boost exposure relative to outlay, making them especially attractive to large players." Currently, only one of the eleven U.S.-based spot bitcoin ETFs - BlackRock's IBIT - has options available, and the demand has been robust. Bloomberg ETF analyst Eric Balchunas posted on X that there has been a few hundred million in options volume on IBIT so far (a significant amount for the first day). He further noted that the majority of the contracts were calls, indicating bets that bitcoin's price will continue to rise.This remarkable story originally appeared on Coindesk and showcases the evolving landscape of the cryptocurrency market with the introduction of Nasdaq's spot bitcoin ETF options. It highlights the potential for increased market sophistication and the attraction of these options for various market participants.

A comunicação é uma parte fundamental da nossa vida diária. No livro "Comunicação Frescobol e/ou Tênis: Um Novo Paradigma da Comunicação", os autores Dr. Wimer Bottura Junior, Ana Luisa Meirelles, Isa Minatel, Felix von Planta, Ivana Moreira e Bete Rodrigues nos apresentam uma nova perspectiva sobre esse fenômeno. Com 134 páginas, o livro explora de forma profunda a dinâmica das conversas, utilizando as metáforas do frescobol e do tênis.

"Descubra como a comunicação pode mudar com as metáforas do frescobol e do tênis."

O frescobol e o tênis como metáforas da comunicação

O livro destaca a diferença significativa entre a comunicação no estilo do frescobol e no estilo do tênis. Na comunicação do tênis, há uma sensação constante de adversidade, onde cada jogador está tentando vencer o outro. No entanto, no frescobol, o interlocutor é visto como um parceiro, e a comunicação se torna uma experiência colaborativa. O frescobol enfatiza a resolução de problemas em conjunto, sem a presença de antagonismos. Em contraste, o tênis vê a comunicação como uma disputa de ideias e argumentos, onde, no final, sempre há um vencedor e um perdedor.

Por meio de diálogos e triálogos transcritos, o livro mostra como essas abordagens se manifestam na vida real. Há relatos pessoais e conversas autênticas que ilustram como a forma de se comunicar pode afetar as relações interpessoais, seja entre pais e filhos, ou entre profissionais. Alguns desses diálogos são acompanhados por desenhos que tornam mais vividos os aspectos das diferentes formas comunicativas.

Refletindo sobre a nossa forma de se comunicar

Ao ler o livro, os leitores são convidados a refletir sobre a própria forma de se comunicar. A pergunta "Você joga tênis ou frescobol na sua comunicação?" coloca em evidência os desafios que enfrentamos em todas as nossas conversas, seja na vida profissional, familiar ou informal. A idéia de transformar o interlocutor em um parceiro, em vez de um adversário, é uma proposta que tem um impacto profundo em um mundo cada vez mais polarizado e competitivo.

É importante perceber que não existe uma forma "correta" de se comunicar, mas sim diferentes abordagens que podem ser aplicadas de acordo com as situações. O livro nos ensina a ser mais consciente de nossas ações e palavras na comunicação, e a tentar encontrar um equilíbrio entre a competitividade e a colaboração.

Disponibilidade do livro

O livro já está disponível no valor de R$ 65,00 (frete não incluso) e pode ser comprado no site da Universidade de Pais. É uma oportunidade única de se aprofundar na teoria e prática da comunicação, utilizando as metáforas do frescobol e do tênis. Não perca a chance de expandir seu conhecimento e transformar a forma como você se comunica diariamente.