A weekly section discussing how general events can influence the future of the cryptocurrency sector
51 Countries Announce Bank Secrecy Obsolete
Finance ministers of 51 countries signed an agreement to “end tax evasion and money laundering.” Another 30 countries pledged to sign it in 2018. It is known as the Multilateral Competent Authority Agreement, and seeks to establish an automatic exchange of information on bank accounts, tax returns, assets and income held over all jurisdictions.
Dominican Agents Arrest Woman for Body Packing Money
Law officials of Dominican Republic Punta Cana arrested a woman from the local airport for carrying over $70,000 cash in the stomach. The 40-year old woman had apparently consumed 16 capsules containing the cash. She was alongside carrying $69,000 in a suitcase.
Bank of Japan Announced New QE Round
In a surprise move, the Bank of Japan announced that it is planning to stretch its Quantitative Easing policy by purchasing the Japanese government bonds for long term. The central bank also announced to triple the annual purchases of exchange traded-funds, as well as real estate investment funds. Japan’s public debt now exceeds 250% of the GDP.
German Bank Hits Savers with Negative Interest Rates
Deutsche Skatbank, a division of VR-Bank Altenburger Land, is the first bank to make the Germans feel what savers have been dreading from a long time: Draghi’s wrath. According to the reports, the retail and commercial customers with over €500,000 on deposits will earn a negative rate of interest of 0.25% from November 1. In less euphemistic terms, this means they will pay 0.25% annually to the bank to save their money there.
To contact the reporter of the story: Yashu Gola at email@example.com