A weekly section discussing how general events can influence the near-term future of cryptocurrency sector
Fed Keeps Interest Rates Intact
The US Federal Reserve reported Thursday that it will not be changing the interest rate — at least for now. Following the update, the US central bank’s target range will stay between 0 and 0.25 percent. The announcement, meanwhile, helped the cryptocurrency Bitcoin gaining a much-awaited bullish correction in the market.
Janet Yellen Does Not Rule Out Negative Interest Rates
In a recent press conference, Fed president Janet Yellen admitted to have been considering the possibility of negative interest rates. She said that if the authorities find a weak economy, needing an extra boost, they will surely consider to utilize all the available options at that time, one of them being the reduction in interest rates.
Payment Companies to Strangle Piracy Sites
Payment and remittance companies, such as PayPal, Western Union and MasterCard, are reported to have joined a series of companies that have decided to strangle the piracy websites. The decision could eventually cut the websites from accessing their payment services. In this case, all they are left with is a decentralized cryptocurrency like Bitcoin.
Germany Promotes Financial Transaction Tax
The German Finance Minister, Mr. Wolfgang Schauble, has decided to push a new law that will enable taxations on stock and bond trading throughout the Europe. The proposed bill has received a strong opposition from the UK and companies. They fear that such a bill would simply harm businesses with extra cost burdens.