News That Strengthen Cryptocurrency (XIII)

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News that Strengthen Cryptocurrency (XII)

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

Belarus Block Websites to Stop Currency Panic

The Belarusian government blocked stores and online news sites in an attempt to stop a run to protect the savings that was already underway. The blockade began on 19 December when the government announced it would weigh a tax of 30% for purchases of foreign currency and that all exporters should convert half of its revenue outside the local currency.

Russia Rescues Trust Bank with Taxpayers’ Money

The Russian Central Bank announced Monday the first state bailout since the beginning of the current ruble’s collapse. The same will be the beneficiary of Trust Bank, an institution that will receive $USD 540 million and relinquish control of supervision of loans to the Central Bank. Trust Bank is the 15th of Russian banks with maximum retail accounts.

PayPal Reports Scottish Customers to Authorities for Violating US Trade Laws

PayPal recently reported hundreds of Scots to US authorities for allegedly violating the ongoing trade ban with Cuba, when they bought small amounts of Cuban coffee from an Australian bean roaster. The payment processing company further made these customers to sign an affidavit, promising not do anything against the US law.

Visa, MasterCard Suspends Services for Russian Banks

World’s leading payment processing companies – MasterCard and Visa – recently suspended its services for Russian banks in Crimea, a decision influenced by the US sanctions.

“According to the US sanctions imposed against Crimea on December 19, 2014, Visa currently cannot provide services and offer their products in the Crimea. This means that we can no longer issue or accept bank cards in Crimea, and service them in ATMs,” the company has confirmed to TASS.

To contact the assembler of the stories: Yashu Gola at yashu@forexminute.com