News that Strengthen Cryptocurrency (XII)

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News that Strengthen Cryptocurrency (XII)

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

Russian Ruble, Turkish Lira and Ukrainian Hryvnia Reach Historical Lows
Eurasian countries are experiencing the severe impact of falling oil prices on their economy, particularly in Russia, Turkey and Ukraine whose national currencies have crashed to their respective historical lows last week.

Rejected by Banks, Legal Marijuana Stores Are Forced to Cope with Cash
With Fed’s uncertain stand on legalizing medical marijuana, most banks in the US are still shying away from partnering with legal marijuana stores; thus forcing them to choose cash as a payment method. This represents a major security problem for hundreds of dispensaries that move a large amount of cash every day.

Police Seize Fake Euro Coins
Italian police seized a shipment of fake 1 and 2 Euro coins of 1 and 2 that were originally minted in China. According to the Italian authorities, the seizure has exposed the most perfect coin forgery they have ever encountered.

After Ruble’s Collapse, Apple Stops Online Sales in Russia
Apple stopped online sales of their products in Russia due to “extreme fluctuations” in the value of the ruble. This move turned out to be a sample of how much it affects exchange rate uncertainty to international companies.

Western Banks Restrict Cash Flow to Russian Entities
Global banks are reducing the cash flow towards Russian institutions as a response to the biggest selling pressure the Ruble has faced since the 1998 financial crisis.

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