1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

64x64

Explainer: Does China need more Russian gas via the Power-of-Siberia 2 pipeline? www.reuters.com

Russian President Vladimir Putin and Chinese leader Xi Jinping met in Moscow for two days of talks which ended Tuesday, during which they discussed a major new infrastructure project, Power-of-Siberia 2, to deliver gas to China via Mongolia.
Putin said Russia, China and Mongolia had completed "all agreements" on finishing the pipeline to ship Russian gas to China, and that Russia will deliver at least 98 billion cubic meters (bcm) of gas to China by 2030, although a subsequent Russian statement said pipeline details still need to be resolved.
Russia proposed the route years ago but the plan has gained urgency as Moscow looks to Beijing to replace Europe as its major gas customer.
However, China is not expected to need additional gas supply until after 2030, experts say.
WHAT IS THE POWER-OF-SIBERIA 2 PIPELINE?
The proposed pipeline would bring gas from the huge Yamal peninsula reserves in west Siberia to China, the world's top energy consumer and a growing gas consumer.
The first Power-of-Siberia pipeline runs for 3,000 km (1,865 miles) through Siberia and into China's northeastern Heilongjiang province.
The new route would cut through eastern Mongolia and into northern China, according to a map by Russia's Gazprom (GAZP.MM).
Gazprom began a feasibility study on the project in 2020, and has aimed to start delivering gas by 2030.
The 2,600-km pipeline could carry 50 billion cubic metres (bcm) of gas a year, slightly less than the now defunct Nord Stream 1 pipeline linking Russia to Germany under the Baltic Sea.
WHAT DID XI AND PUTIN SAY ABOUT THE PIPELINE?
Before Xi's visit, Putin referred to the Power-of-Siberia pipeline as "the deal of the century."
But a joint statement after their talks said only that the parties involved "will make efforts to advance work on the study and approval" of the pipeline. However, official accounts of Xi's statements issued after the meetings do not mention the pipeline.
"We don't really think it's finalised yet, there are still lots of finer details to be hammered out," said Wang Yuanda, China gas analyst at data intelligence firm ICIS.
WHAT DOES MONGOLIA SAY?
When Putin and Xi met in September with Mongolian President Ukhnaagiin Khurelsukh, Khurelsukh said he supports the construction of oil and gas pipelines from Russia to China via Mongolia, adding that its technical and economic justification should be studied.
Mongolian Prime Minister Oyun-Erdene Luvsannamsrai told the Financial Times in July that he expected Russia to begin construction on the pipeline within two years, but added that the final route through Mongolia was not yet decided, according to the newspaper.
DOES CHINA NEED MORE RUSSIAN GAS?
Gazprom already supplies gas to China through the first Power-of-Siberia pipeline under a 30-year, $400 billion deal, which was launched at end-2019.
Expected to supply 22 bcm of gas in 2023, it will deliver increasing volumes before reaching full capacity of 38 bcm by 2027.
In February 2022, Beijing also agreed to buy gas from Russia's Far East island of Sakhalin, which will be transported via a new pipeline across the Japan Sea to China's Heilongjiang province, reaching up to 10 bcm a year around 2026.
Meanwhile, China is negotiating a new pipeline - Central Asia–China Gas Pipeline D - to source 25 bcm of gas annually for 30 years from Turkmenistan via Tajikistan and Kyrgyzstan.
Additionally, China has long-term contracts with Qatar, the United States and global oil majors for LNG supplies. It imported 63.4 million tonnes of the chilled fuel last year.
"The original target is for China to import 38 bcm of Russia gas by 2025. Now Russia is saying this will reach 98 bcm by 2030. That is a very big jump, so it pays to be slightly cautious on that," said Wang, the analyst.
China will also be wary of finding itself in a similar position to Europe if it becomes more reliant on Russia, he added.
Reporting by Emily Chow in Singapore; Editing by Raju Gopalakrishnan
 
 
 
...


64x64

Pinsent Masons advises IFC on landmark investment in Mongolia’s first ever green bond issuance www.pinsentmasons.com

Multinational law firm Pinsent Masons has advised International Finance Corporation (IFC) on its investment in Mongolia’s first ever green bond issuance.
The firm advised on IFC’s investment, alongside Dutch entrepreneurial development bank, FMO, and US-based microfinance investor, MicroVest Capital Management, in Khan Bank’s US$60 million issuance of five-year green bonds.
Khan Bank, Mongolia’s largest commercial financial institution, will use funds raised by the issuance to grow its climate portfolio by funding projects that support renewable energy, energy efficiency, climate-smart agriculture, and sustainable building and mobility.
IFC’s investment supports Mongolia’s goal to increase green lending from 1.4% at present to 10% of all banking sector lending by 2030.
James Harris, head of Finance & Projects in Asia at Pinsent Masons said: “Mongolia is facing significant environmental challenges. Green bond issuances like this one are a crucial tool in helping developing countries attract the right international investment needed to progress climate ambitions and kickstart vital infrastructure and energy projects to drive net zero journeys. This investment supports Mongolia’s sustainable finance development, helping the country develop and adopt the necessary environmental and social risk management requirements for commercial banks.”
The Pinsent Masons team was led by partner James Harris and included senior associate Tony Nicholson, and associates Olivia Wang and Qiyu Lu.
Pinsent Masons has recently advised IFC on a number of landmark impact financing transactions in Mongolia. Earlier this year, the team advised IFC on a US$130 million syndicated loan to Khan Bank to support funding the recovery and growth of Mongolian micro, small and medium enterprises (MSMEs). In December 2022, the team also advised IFC on a US$130 million syndicated loan to Mongolia’s fifth largest bank, XacBank, with proceeds going to support the funding of green projects and MSMEs in Mongolia.
Mongolia has committed to reducing greenhouse gas emissions by 22.7% by 2030. The annual financing required to achieve Mongolia’s green development targets is estimated to be $413m, with 80% expected to come from international investors and private sector players.
Asia Pacific Energy
...


64x64

Mongolia marks World Water Day with conservation drive, awareness events www.xinyhuanet.com

On the World Water Day falling on Wednesday, Mongolia emphasized the importance of fresh water, urging the public to conserve water as much as possible.
According to Mongolian Minister of Environment and Tourism Bat-Ulzii Bat-Erdene, the country will soon impose a ban on washing vehicles with clean water.
On average, cars are washed with 2,000,000 liters of clean water per day in Mongolia, the minister said.
A national conference on water called "Blue Gold" initiated by Mongolian President Ukhnaa Khurelsukh is underway from Monday to Friday, discussing water resources of the country and pressing issues in the water sector.
As of 2022, about 77 percent of the country's total territory has been somehow affected by desertification and land degradation, and more than 360 rivers, streams, lakes and springs in the country have dried up, according to the ministry.
 
 
 
...


64x64

ADB investment programme to help grow green agribusiness in Mongolia www.fareasternagriculture.com

The Asian Development Bank (ADB) approved a US$448mn investment programme to support green and inclusive development of Mongolia’s Aimags (province) and Soums (sub province)
The ‘Aimags and Soums Green Regional Development Investment Programme’ will promote a transformative model for green territorial development and green urban-rural linkages. Secondary towns will become anchors of climate-smart agribusinesses that promote sustainable, resilient, and low-carbon rangeland management.
“The programme pilots an integrated solution to Mongolia’s multidimensional challenges by balancing its territorial development, reducing migration to Ulaanbaatar, and regenerating rangeland natural resources for carbon capture,” said ADB principal portfolio management specialist, Arnaud Heckmann. “The programme is designed for replicability within and outside of Mongolia.”
Mongolia’s rangelands cover 82% of the country and are under severe threat due to livestock pressure on pastureland and unsustainable rangeland management practices. Climate change has reduced the productivity of fragile rangelands and has increasingly exposed herders to climate-related natural hazards.
With an initial focus on western provinces, the programme will implement climate-resilient, high-carbon sequestration, and sustainable rangeland management to support herder groups and empower them with sustainable livestock and agricultural management practices. It will promote renewable energy and low-carbon solutions through urban services, to build liveable Province and sub province centres as anchors for a green agribusiness value chain.
To expand financial access for low carbon and climate-resilient agribusiness value chains, the project will establish a green and inclusive regional agribusiness fund to provide climate-smart financial mechanisms and institutions to overcome the financial bottlenecks of agribusiness small and medium-sized enterprises. This will generate green jobs and promote green economic recovery and diversification.
The total programme cost is US$735mn, with counterpart financing from the Government of Mongolia and the private sector, along with co-financing from the European Investment Bank, European Union, and the Green Climate Fund. A US$3mn grant is sourced from the Asian Development Fund (ADF). The ADF provides grants to ADB’s poorest and most vulnerable developing member countries. The project will be implemented in three stages (tranches) and is expected to be completed in 2033.
 
 
 
...


64x64

1 killed, 2 missing in Mongolia due to snow and dust storms www.xinhuanet.com

At least one person was killed and two others missing after heavy blizzards and strong dust storms swept through large parts of Mongolia over the past two days, the country's National Emergency Management Agency said Wednesday.
Thirteen people who were missing in the snow and dust storms have been found alive, the emergency agency said.
Unfortunately, a 61-year-old woman was killed in the western province of Govi-Altai due to the storms, it said.
Search for the two missing people is underway in the northern province of Selenge and the eastern province of Dornod.
Mongolia has a harsh continental climate as strong winds and dust storms are common in spring.
...


64x64

Today Marks 42nd Anniversary of Mongolia’s First Space Flight www.montsame.mn

Today marks the 42nd anniversary of the first space flight by a Mongolian.
On this day in 1981, Hero of the Mongolian People’s Republic, Hero of the USSR Jugderdemidiin Gurragchaa along with twice Hero of USSR, Hero of Mongolian People’s Republic, Soviet cosmonaut V.A.Dzhanibekov flew into space on the Soyuz 39 spacecraft, landing back on Earth at 7.42 pm on March 30.
With this event, Mongolia became the 10th country in the world to send off a cosmonaut into space, and Mongolian cosmonaut J. Gurragchaa became the 2nd person in Asia, and the 101st person in the world to fly into space.
While in orbit, 36 experiments and research were carried out in the fields of medical care and biology, physics and technology, and remote sensing, which laid out the foundations for the development of space science in Mongolia.
Incidentally, a MONTSAME team of seven, comprised of columnists, reporters, and photographers covered the events related to the flights between 1978 and 1981 and took over 60 percent of all photographs of the space flights in Mongolia, especially those in the archives.
...


64x64

US Forest Service to OK land swap for Rio’s Tinto’s Arizona copper mine before July www.reuters.com

The US Forest Service plans to re-publish an environmental report before July that will set in motion a land swap between the US government and Rio Tinto, allowing the mining giant to develop the controversial Resolution Copper project in Arizona.
The move would be the latest blow to Native Americans who have long opposed the mine project, which would destroy a site of religious importance but supply more than a quarter of US copper demand for the green energy transition.
The complex case centers around a land swap approved by Congress in 2014 that required an environmental report to be published, something the Trump administration did shortly before leaving office. President Joe Biden then unpublished that report in March 2021 to give his administration time to review the Apache’s concerns, though he was not able to permanently block the mine.
Meanwhile, Apache Stronghold, a nonprofit group comprised of members of the San Carlos Apache tribe and others, sued to prevent the transfer of the federally owned Oak Flat Campground, which sits atop a reserve of more than 40 billion pounds of copper, a crucial component of electric vehicles. Several courts have ruled against the group.
Joan Pepin, an attorney for the Forest Service, told an en banc hearing of the 9th US Circuit Court of Appeals on Tuesday that “the prediction for that (new environmental report) is to be ready this spring.”
The Forest Service is not waiting for the court’s ruling to publish the new report, Pepin said, adding that the agency does not believe an 1852 treaty between the US government and Apaches gives Native Americans the right to the land containing the copper.
“This particular treaty is just a peace treaty. It doesn’t settle any rights to land and it doesn’t create any land rights,” Pepin told the court.
The Apache Stronghold held a ceremony outside the Pasadena, California, courthouse on Tuesday to protest Rio’s plans for the copper mine.
Reuters images showed some protesters drumming while others displayed placards with the words “Save Oak Flat” and “What will we do when the last mine is mined?” in the rain.
The 11 judges at the hearing peppered all sides about the legal concept of substantial burden and whether the government can do what it want with federal land, even if it prevents some citizens from fully exercising their religious beliefs. A full ruling is expected in the near future.
A Rio Tinto spokesperson said the company is closely following the case and respects the legal process, but believes “that settled precedent supports” the rejection of Apache Stronghold’s claims by a lower court. Rio has said it will smelt copper from the project inside the United States.
Representatives for Apache Stronghold and the San Carlos Apache tribe were not immediately available to comment, nor were representatives for BHP, which is helping Rio develop the mine.
“It is my hope that … the government will correct a troubling double standard in the law that has disenfranchised Native American practitioners and continued a history of callous disregard of their sacred sites by the government,” said Stephanie Barclay of Becket Law, a conservative legal group dedicated to religious rights that opposes the land swap.
(By Ernest Scheyder; Editing by Aurora Ellis, Chris Reese and Aurora Ellis)
 
 
 
...


64x64

5,076 apartments to be put into use through the redevelopment of ger area in 2023 www.gogo.mn

A regular meeting of the capital city authorities was held on March 20. At the beginning of the meeting, the Mayor clarified about the progress of the road, bikeway, sidewalk, and bridge construction.
In 2022, 11 works were launched within the framework of traffic congestion reduction measures. In 2022-2023, there are 36 measures are being implemented with state and capital budget funds. 24 measures have been completed and 12 measures are under implementation. The Mayor reminded that the minimum width of the sidewalk should be 2.7 meters or more.
More than 2,000 people registered to volunteer at the "Ulaanbaatar 2023" East Asian Youth Games
"Ulaanbaatar 2023" East Asian Youth Games will be held in Ulaanbaatar on August 16-23 with 11 sports. Within the framework of the EAYG, more than 30 training courses involving about 1,500 people will be organized and human resources and volunteers of the EAYG will be trained. More than 1,950 people from Mongolia and 120 people from abroad registered to volunteer. The competition will be held in about 10 buildings, the opening is planned to be held at the Central Stadium, and the closing is planned to be held at Sukhbaatar Square. More than 1,500 athletes will participate in the EAYG, and a total of about 2,700 people are expected to come to the competition.
5,076 apartments to be put into use through the redevelopment of ger area in 2023
In 2023, 26 contractors will put 5,076 apartments into use in 10 locations in six districts of the capital city. Last year, 5,900 apartments were put into use as part of redevelopment, which is the highest performance. The Mayor highlighted the need for construction based on sub-centers and the need to increase the housing policy.
Children's playgrounds to be monitored
At the end of the regular meeting, Governor of the capital city and Mayor of Ulaanbaatar D.Sumiyabazar gave the following tasks.
To organize investment implementation and financing activities transparently and promptly in accordance with the Law on Budget, the Austerity Law and related laws and regulations, to improve the coordination of work, and to intensify the monitoring of all stages of the execution of investment work;
To intensify the work of enforcement and implementation of city standards, to promote it to enterprises, organizations and public, to provide the training methods, and to monitor the implementation;
To carry out surveillance studies on the use of residential buildings and the engineering networks, to intensify the passporting of buildings, and to monitor implementation;
To organize monitoring of leisure and children's playgrounds that do not meet the standards in each district, to provide recommendations and notice to owner about the ensuring of standards, and to monitor implementation;
To meet the standards of trade and service centers and external addresses and billboards, and to intensify the work of removing torn, unsightly addresses and billboards placed without permission on public streets and squares.
MEDIA AND PUBLIC RELATIONS DEPARTMENT OF THE GOVERNOR’S OFFICE OF THE CAPITAL CITY
...


64x64

Foreign trade turnover reached USD 4.8 billion increasing by 56.3% www.gogo.mn

The total turnover of foreign trade reached USD 4.8 billion, an increase of 56.3% or USD 1.7 billion from the same period last year. Of this, exports increased by USD 1.5 billion and imports by USD 0.2 billion.
During this period, Mongolia traded with 107 countries, exported goods to 39 countries, and imported goods from 105 countries.
As for the export, exports have reached USD 3.2 billion since the beginning of 2023, increased by USD 1.5 billion 96.3% from the same period last year. Mining products such as iron ore, coal, copper concentrate, zinc concentrate, fluorspar, molybdenum concentrate, crude oil, and silver ore account for 98.4% of the export of mineral products and 84% of the total export.
...


64x64

Cryptoverse: Bitcoin passes the bank stress test www.reuters.com

As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven.
The infamously volatile cryptocurrency seems positively hale and hearty, just as a banking meltdown drives markets into the arms of a recession.
Bitcoin has risen 21% this month, while a choppy S&P 500 has lost 1.4% and gold has gained 8%.
"If you were going to describe an environment where there were successive bank runs because central banks are trying to fight inflation with fast rate increases, that is pretty close to as spot-on a thesis for owning bitcoin as you've ever heard," said Stéphane Ouellette, CEO at digital asset investment platform FRNT Financial (FRNT.V).
The cryptocurrency has, for now, severed its ties with stocks and bonds and tagged on to a rally in gold, fulfilling at least one part of creator Satoshi Nakamoto's dream - that bitcoin can serve as a refuge for suffering investors.
Bitcoin's 30-day correlation with the S&P 500 (.SPX) has slid to negative 0.12 over the past week, where a measure of 1 indicates the two assets are moving in lock step.
A selloff in banks has wiped out hundreds of billions of dollars in market value and forced U.S. regulators to launch emergency measures. The past couple of weeks has seen Silicon Valley Bank and crypto lender Silvergate go under, while Credit Suisse has teetered on the brink.
Let's not carried away, though. This is bitcoin.
"The bearish argument would be that these dynamics are temporary, and ultimately this rally is not going to sustain," said Ouellette.
It remains to be seen if bitcoin's bullishness will endure as attention shifts to the Federal Reserve's policy meeting this week where the U.S. central bank must walk a fine line as it fights inflation and bank stresses.
Furthermore, the cryptocurrency's allure hasn't all been about safety.
The rapid price rise has forced some short-sellers to cut their bets and buy coin back. Data from Coinglass shows traders liquidated $300 million worth of crypto positions on Monday, with most of that total - $178.5 million - short positions.
Nonetheless, bitcoin is resurgent.
It now commands nearly 43% of the total crypto market, its highest share since last June, according to CoinMarketCap data, while the total cryptocurrency market's capitalization has jumped 23% to $1.1 billion since March 10.
"We're seeing a return to bitcoin's core ethos, that of a financial asset independent from the opacity and meddling of the centralized financial system," said Henry Elder, head of decentralized finance (DeFi) at digital asset investment manager Wave Digital Assets.
The mainstream bank crisis has also fueled some interest in DeFi, with the total value of tokens linked to such platforms rising to $49 billion from $43 billion over the past week, according to DappRadar.
BITCOIN IN A BANK CRISIS
Not all areas of the digital world have been immune to the banking fallout, though. The no. 2 stablecoin Circle USD or USDC lost its 1:1 peg to the dollar after disclosing its reserves were parked at the shuttered Silicon Valley Bank.
As worries spread over USDC's ability to maintain its peg, its market cap slid to $36.8 billion last Friday from $43.8 billion a week earlier, even as leading stablecoin Tether gained around $4 billion.
Market participants said some USDC withdrawals were likely reinvested in bitcoin as well, helping fuel the rally.
"It's too soon to say that bitcoin has proven the narrative that it's an alternative in a banking crisis," cautioned Ed Hindi, Chief Investment Officer at Tyr Capital in Geneva.
But he added: "The rally we are currently witnessing in bitcoin will be looked back at as the point in time where its main property as a decentralized non-sovereign asset was stress tested."
Reporting by Medha Singh and Lisa Mattackal in Bengaluru; Editing by Vidya Ranganathan and Pravin Char
...