News that Strengthen Cryptocurrency (VI)

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News that Strengthen Cryptocurrency (VI)

A weekly section discussing how general events can influence the future of the cryptocurrency sector

FATCA Affecting Americans Abroad
According to a survey conducted by Democrats, Americans living overseas are in some sort of financial limbo and are uncertain about their future. The real culprit here is Foreign Accounts Tax Compliance Act (FATCA) which is reducing the possibilities of an average American to secure business and employment opportunities abroad. The survey says that 5.6% of survey-takers were not offered a job opportunity because their employers do not want to deal with risks and bureaucracy of hiring an American.

Ruble Fell 24% against USD
Following the fall in oil prices, tensions in Ukraine, and economic sanctions, the Russian currency Ruble saw a huge slide in its value against the USD. Since June, the Ruble has slipped from 34 to 44.9 per US Dollar. This makes a 24% decline within only five months.

Moody’s: We Need to Raise $110 Billion for Pension Funds
Due to increasing life expectancy and the impact of the Federal Reserve policies, the pension funds of the US companies have been severely affected. As Moody’s noted, these companies will have to get $110 billion over the next seven years to fund the liabilities arising from the pension system shortage.

Increasing Cyber Attacks on US Retail
According to the Identity Theft Resource Center, 629 security breaches have been reported from multiple online US retailers. The time period reported of these breaches is between January 2014 and October 2014. During these attacks, a total of over 77.8 million personal records were filtered which is 26.5% more than the year 2013.

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