News that Strengthen Cryptocurrency (XX)

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News that Strengthen Cryptocurrency (XV)

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

US Government Asks PayPal to Close Cloud Storage Company Accounts

PayPal recently discontinued its services to cloud storage company Mega, after facing pressures from the US government. According to the payment transfer company, Senator Patrick Leahy, recently reached Visa and MasterCard to take actions against Mega due to their encryption services. The complain ultimately reached PayPal, which has no option but to follow the legal course. While working to solve the problem, Mega has extended storage limits and not suspend any account for nonpayment.

Singapore to Raise Taxes From Top Earners

Singapore recently announced to charge extra tax from the nation’s riches. According to the recent reports. The income tax of individuals, having annual income of more than $235,000,  have been increased from 20% to 22%. The decision will add an extra $294m revenue to Singapore’s economy.

JP Morgan Charging Huge Commissions from Rich Customers

JP Morgan Chase & Co. plans to start charging commissions on deposits of large institutional clients, because the new regulations make it too expensive to maintain client money.

Greeks Withdraw 2,000 million euros from Banks in Just 48 Hours

As Athens struggles to come to terms with the euro zone to ensure the continuity of funding, feared citizen have already started taking out their money. In just two days, they withdrew a whopping 2,000 million Euros from banks.