News that Strengthen Cryptocurrency (VII)

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News that Strengthen Cryptocurrency (VII)

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

Ukraine President Stops Supporting Regional Banks
Ukraine President Poroshenko recently signed a pact that will order central bank to stop giving service to local banks of the Donetsk and Luhansk regions. This announcement created havoc among the regions’ inhabitants who rushed to withdraw their money from the banks’ ATMs and branches. The new decree will also be liable to withdraw support from all state services, including hospital and school funding.

Brazilian Real Fell to Its Lowest Level in Nine Years
The Brazilian Real continued to depreciate against the US Dollar, reflecting investor uncertainty about the future of economic policy during President Rouseff’s second term. Compared to last year however, the Brazilian Real has partially recovered and currently accumulated a decline of 9%.

HSBC Payment System Attacked in Turkey
Banking giant HSBC said to have identified a recently conducted cyber-attack on their range of debit and credit cards. During the attack, the hacker gained access to the cardholders’ names, their card numbers and expiry dates, as well as the accounts linked to their HSBC account. The bank disclosed the details that mentions the list of attacked cardholders, but their total number is estimated to be around 2.7 million.

Argentina Raids Banks Accused of Money Laundering
Official prosecutors appointed by the Argentinian government recently conducted a raid in more than 70 financial institutions in multiple cities. The operation was launched to tackle the raising issues like money laundering, tax evasion and capital flight. The Argentine government has spent more than five years to seize banks that are exacerbating the central bank reserves. The country is going through a financial crisis, and has recently recorded a whopping 40% inflation.

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