Joshua Chen

The BBC's Howard Johnson gained rare access to a disputed coral reef called Scarborough Shoal.

「如果你不譴責哈瑪斯，你就是『反猶主義』的支持者。」這個盛行於國際政壇、主流媒體的框架，在今年5月的以巴衝突中，卻遭到新聞工作者、各國民眾甚至猶太團體的挑戰。我們能改以反種族歧視、反殖民議題的方向來認識以巴關係嗎？

印度教民族主義崛起，因種族、階級而起的暴力事件不斷，發出理性之聲的人也無故遭暗殺⋯⋯，印度當代最重要的紀錄片大師安南．帕渥丹，用影像記錄、控訴這齣未完的時代悲劇。

承襲費孝通對底層中國農民的關懷，駐華多年的外媒記者羅谷，第一線採訪農民工有血有肉的故事，探查經濟成長亮麗數字的背後的陰暗角落。中國「成功」的經濟模式，具有持續性嗎？

6月10日高端公布二期解盲成功，眾多專有名詞背後代表的意義是什麼？食藥署對國產疫苗EUA標準也在今日公布，要和AZ「PK」是什麼意思？其中有哪些沒說清楚的關鍵？《報導者》訪問多位專家，揭開解盲的幕後，以及國產疫苗走向國際的挑戰。

在緬甸街頭示威外，一個納入跨族群、女性和青年代表，平行於軍政府的「全國團結政府」成立。《報導者》專訪其成員，了解他們的策略：直接與國際對話、擬定與軍政府打交道的公司黑名單、遊說企業不向軍政府繳稅、甚至準備成立聯邦結盟的人民防衛部隊。緬甸幾乎走向內戰的狀態會怎麼發展？

Growth of crypto-assets threatens financial stability and could increase risks faced by banks, they warn

Global regulators have said cryptocurrencies such as bitcoin should come with the toughest bank capital rules to avoid putting the wider financial system at risk should their value collapse suddenly.

The Basel Committee on Banking Supervision, which consists of regulators from the world’s leading financial centres, is proposing a “new conservative prudential treatment” for crypto-assets that would force banks to put aside enough capital to cover 100% of potential losses.

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The US Department of Justice says it has seized most of the $4.4m (£3.1m) paid to cyber-criminals.

Israel gets billions of dollars in US aid - we look at why, and what that money is used for.

「對以色列來說，我們的存在就是個威脅。」在1948年以色列建國後數起戰爭下，巴勒斯坦人被迫離散於西岸、加薩、東耶路薩冷與以色列。我們採訪這四地的巴勒斯坦人，不管拿的是哪一種身分，來自以色列的武力與種族歧視的壓迫都持續加深⋯⋯

Nations demand the dissident's release, after a MiG-29 escorts the Greece-Lithuania flight to Minsk.

The World Health Organization says the trend may worsen due to the coronavirus pandemic.

Health officials hope the event will increase public confidence in getting the vaccination.

How the pandemic cannabis boom led to chaos on the Navajo Nation, pitting two minorities against each other.

A chance to shoot a rare buffalo in the famed US National Park drew over 45,000 applicants.

The country is struggling with a massive surge in cases and a major oxygen shortage.

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The famous author of The Black Swan, Nassim Nicholas Taleb, says investors should not buy bitcoin. To hedge against the current turbulent market, he advises buying stocks or real estate, emphasizing that bitcoin has no connection to inflation or “anything economic.”

Nassim Taleb Advises Against Bitcoin Investing

Nassim Nicholas Taleb, the famed author of “The Black Swan,” has shared his view on bitcoin and on how to hedge against the current turbulent market in an interview with CNBC Friday. Taleb is a Lebanese-American scholar, mathematical statistician, former options trader, and risk analyst.

He was asked about cryptocurrency, particularly bitcoin, given that investors have been increasingly restructuring their portfolios with this asset class. Regarding bitcoin, “It has the characteristics of an open Ponzi scheme. Everyone knows it’s a Ponzi,” he claims, adding:

Basically, there is no connection between inflation and bitcoin. None. You can have hyperinflation and bitcoin goes to zero. There is no link between them.

Admitting that bitcoin is “a beautifully set up cryptographic system,” Taleb insisted that “It’s well-made but there is absolutely no reason it should be linked to anything economic.”

“If you want to hedge against inflation, buy a piece of land,” he advised, adding that one can “grow olives on it. You’ll have olive oil.” He continued, “Of course, the best strategy for investors is to own things that produce yields in the future.”

While a number of analysts support Taleb’s theory that bitcoin is not an inflation hedge, some believe otherwise. Investment bank Goldman Sachs said in December last year that “bitcoin is the retail inflation hedge,” noting that it “is replacing gold as the inflation hedge of choice.” British investment management firm Ruffer wrote that bitcoin “acts as a hedge to some of the monetary and market risks that we see.” Deutsche Bank observed that there “seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation, and other things.”

Concluding Friday’s interview on how to hedge risk in today’s market, Taleb said:

Stay out of bitcoin. Buy stocks that are stable and buy things you understand.

He also reiterated that investors can also “Buy a piece of land” and grow something on it, like in his earlier olive example.

The famous author was initially a bitcoin proponent, believing that BTC can be used as a currency. However, when he saw that the price of bitcoin is very volatile and investors are using the cryptocurrency as a vehicle for speculation, he started selling off his bitcoin and began calling it a failed currency.

What do you think about Nassim Taleb’s advice about bitcoin? Let us know in the comments section below.

But their opinions are not shared with those more cynical about the cryptocurrency's impact.

Yellow fever, slavery and distrust of government all contributed to resistance to official checks.

Paing Takhon has millions of fans and had openly posted against the military coup

The founder and chief investment officer of Bridgewater Associates, the world’s largest hedge fund firm, has warned that the government could “impose prohibitions against capital movements” into assets such as bitcoin. He added that regulators may also impose changes in taxes that “could be more shocking than expected.”

Ray Dalio Warns About Government Prohibitions and Taxes

Ray Dalio, founder and chief investment officer of Bridgewater Associates, wrote a post on Linkedin last week entitled: “Why in the World Would You Own Bonds When…”

He pointed out that the bond markets currently offer “ridiculously low yields,” which “do not meet these asset holders’ funding needs.” The executive wrote, “There is now over $75 trillion of US debt assets of varying maturities,” adding that their holders will at some point want to sell them to get cash to buy goods and services with.

However, Bridgewater’s chief investment officer estimates that “at current valuations, there is way too much money in these financial assets for it to be a realistic expectation that any significant percentage of that bond money can be turned into cash and exchanged for goods and services.” He elaborated: “It has to be accommodated … via printing a lot of money and devaluing it, and restructuring a lot of debt and government finances, usually including large increases in taxes.”

Dalio explained: “Based both on how things have worked historically and what is happening now, I am confident that tax changes will also play an important role in driving capital flows to different investment assets and different locations, and those movements will influence market movements.”

The billionaire fund manager emphasized that “If history and logic are to be a guide, policymakers who are short of money will raise taxes and won’t like these capital movements out of debt assets and into other storehold of wealth assets and other tax domains,” warning:

They could very well impose prohibitions against capital movements to other assets (e.g., gold, bitcoin, etc.) and other locations. These tax changes could be more shocking than expected.

The Bridgewater Associates founder used Elizabeth Warren’s proposed wealth tax as an example, stating that it “is of an unprecedented size.” Citing his study of “wealth taxes in other countries at other times,” he expects this proposal “will most likely lead to more capital outflows and other moves to evade these taxes.”

Consequently, “The United States could become perceived as a place that is inhospitable to capitalism and capitalists,” Dalio opined, emphasizing that “the chances of a sizable wealth tax bill passing over the next few years are significant.” In conclusion, the Bridgewater executive cautioned:

One should be mindful of tax changes and the possibility of capital controls.

Dalio has been studying bitcoin over the recent months. In November last year, he admitted that he may be wrong about bitcoin but was nonetheless worried about governments outlawing cryptocurrency. In December, he said bitcoin could “serve as a diversifier to gold and other such storehold of wealth assets.” Then, in January this year, he said that “bitcoin is one hell of an invention,” revealing that his firm looking closely at the cryptocurrency.

What do you think about Ray Dalio’s warning? Let us know in the comments section below.

On March 19, the Financial Action Task Force (FATF) published draft guidance on the risk-based approach to virtual assets. The newly updated guidance now applies anti-money laundering and know-your-customer rules to stablecoins, decentralized finance (defi), and non-fungible token (NFT) assets.

FATF Defines Decentralized Exchanges and Defi as a Virtual Asset Service Providers

For a while now, cryptocurrency proponents have said that one day, global regulators would likely target decentralized finance (defi) and the latest non-fungible token (NFT) hype. For a while now, the Financial Action Task Force (FATF) has been trying to come up with a regulatory standard for cryptocurrencies businesses called a “virtual asset service provider” (VASP). Things like the FATF’s Travel Rule have always been controversial, but regulators from a number of countries have been adopting the organization’s guidance. Recently Gibraltar updated its guidance notes to align with the FATF rules and South Africa has been attempting the same.

The FATF’s latest guidance is merely an update of some of its past recommendations toward virtual assets (VA) and VASPs. However, the updated version now discusses stablecoins, defi, and NFTs, as things like decentralized exchanges (dex) are considered VASPs. The newly revised guidance suggests imposing anti-money laundering and know-your-customer (AML/KYC) rules toward dex applications. The FATF calls these platforms “Decentralized or distributed applications (dapp) or a platform that offers “exchange or transfer services.”

“A dapp, for example, is a term that refers to a software program that operates on a P2P network of computers running a blockchain protocol— a type of distributed public ledger that allows the development of other applications,” the latest guidelines note. “These applications or platforms are often run on a distributed ledger but still usually have a central party with some measure of involvement, such as creating and launching an asset, setting parameters, holding an administrative ‘key’ or collecting fees.”

The global regulator’s guidance adds:

Dapps can facilitate or conduct the exchange or transfer of [virtual assets].

‘The FATF Is No Stranger to Defi, Dex, and NFTs’

FATF’s latest guidance essentially defines a non-fungible token (NFT) as a VA as it defines a stablecoin. The latest guidance on NFT, defi, and stablecoins indicate that the FATF has noticed these emerging trends within the crypto space. Additionally, the FATF tweeted about the guidance and asked for commentary about the 99-page report. “The FATF wants to hear your views on draft guidance for taking a risk-based approach to virtual assets and virtual asset service providers,” the organization tweeted. “Relevant private sector stakeholders can take part in the public consultation.”

The report also touched upon VA transfers to and from unhosted wallets. “The FATF recognizes that unlike traditional fiat wire transfers, not every VA transfer may involve (or be book-ended by) two obliged entities,” the FATF guidance says. In instances in which a VA transfer involves only one obliged entity on either end of the transfer (e.g., when an ordering VASP or other obliged entity sends VAs on behalf of its customer, the originator, to a beneficiary that is not a customer of a beneficiary institution but rather an individual VA user who receives the VA transfer.”

Of course, the conversation about the FATF’s new definitions for defi, NFTs, stablecoins, dapps, and dex applications was a topical discussion on social media. “FATF ain’t no stranger to defi, dex & NFT,” Björn Godenrath tweeted. “Classification as a virtual asset service provider brings market participants into the scope of traditional money laundering regulations (if they can be identified),” he added.

What do you think about the FATF guidelines and definitions tied to defi and NFTs? Let us know what you think about this subject in the comments section below.

無論中共或特區政府不斷強調香港仍有「經濟自由、法治及司法獨立」，當47位泛民派被控顛覆政權、人大修改香港選制，國際社會開始正式將香港視為中國普通的城市，完全落於北京掌控。

香港律政司2月28日以港版《國安法》「串謀顛覆國家政權罪」起訴47位泛民派，曾被稱「立場姐姐」的何桂藍是其中之一。香港法律規定港媒不能刊登保釋申請陳辭，然而《報導者》認為，其留存在香港史上有其重要與必要，我們選擇將何桂藍的陳辭全文刊登出來。

Every year, 23 million truckloads of food go straight into the waste bin, according to the UN.

Ma Xiaolin frequently wrote about current affairs on one of China's leading microblogging sites, where he has 2 million followers. But recently, he said in a post, the Weibo site called and asked him not to post original content on topics ranging from politics to economic and military issues.

Cambodia's government moved to exert near-total control over the country's online life Wednesday, setting up a national internet gateway which activists say will stifle freedom of expression and block content via a China-style firewall.