A weekly section discussing how general events can influence the near-term future of cryptocurrency sector
US Bank Chase Restricts Cash
The war against cash has found a powerful ally in Chase, one of the biggest US banks that recently announced to restrict the use of paper money in selected areas. They include, credit card payments, auto loans and mortgages, as well as storing cash in safes. The concept somewhat is familiar with what cryptocurrency sector is aiming for — a cashless society.
Switzerland Takes on Negative Interest Rates
With Swiss economy going through a negative interest rate issue, a further pressure is been put due to pension fund managers who are unethically moving the cash in a secure vault. To avoid such a mismanagement, the Swiss National Bank has decided to allow banks to restrict the movements of funds when they are suspected to have evaded the consequences of a negative interest rate.
Greece Government Goes After Small Tax Debtors
With sever liquidity crisis crawling in, Greece government has called for a new measures to put money in national exchequer. The tax authorities there have therefore decided to go after the small tax debtors, taking deposits between 200 to 24,000 Euros.
44 Gold Bars Confiscated at Bangladeshi Airport
Custom officers at one of the Bangladeshi airports confiscated a $30,000 equivalent of gold bars from a passenger. The busted man, named Abdul Mannan, was traveling from Dubai to Dhaka, while hiding gold bars in his underwear and shoes. Cryptocurrency could have been a better alternative, it seems.