News that Strengthens Cryptocurrency

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News that Impacts Cryptocurrency Market 10/6/14

A weekly section describing events that may have a direct/indirect impact on cryptocurrency markets

Russia: The Fall of the Ruble Hits Capital Flow Controls
Holders of the Ruble-denominated bonds are indeed the worst hit entities by losses faced in the third quarter. There is now further possibilities that they can now have certain consequences on capital flow controls as well.

The Ruble fell to a record low after two senior officials said that the Bank of Russia is considering new restrictions if capital flight intensifies.

Argentina Imposes Prison-Time for Buying USD Illegally
In times when Argentina is going through a severe economic crisis, the government is leaving no stone unturned to capture people who are further weakening the nation’s financial foundations by buying dollar from the parallel markets. They therefore have imposed a new law, according to which, buying USD illegally would make the felonious pay a hefty fine – 10 times the amount of original transaction – and a prison-time of up to eight years as well (for repeat offenders).

Draghi Presses ECB to Buy Junk Loans
Mario Draghi is urging theEuropean Central B ank to buy junk loans from Greece and Cyprus, a move that would further stiffen the tensions between Germany and the central bank. The plan is set to be revealed this week, whose excerpts might contain the plans of buying private assets worth hundreds of billions of Euros.

JP Morgan Hacked, Affects 76 Million Households
JP Morgan Chase & Co., the largest bank in the United States, was recently hacked by a bunch of anonymous black hats. In the security breach, the hackers took away confidential data of over 76 million households and 7 million small businesses. The stolen data contains customers’ names, addresses, phone numbers, and email addresses. The hack affected anyone who was visiting JP Morgan’s website or was using their mobile application during the time of the breach.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com