A weekly section discussing how general events can influence the near-term future of cryptocurrency sector
Nepal Government Seizes Relief Funds for Earthquake Victims
The Bank of Nepal recently issued a fresh circular to the nation’s banking institutions, asking them to redirect the earthquake relief funds to Prime Minister Relief Fund. The step was allegedly taken to avoid the illegal cash inflow inside Nepal by impersonating as a relief fund. In other event, the entire cryptocurrency community was also making notable distribution for the earthquake victims.
France Putting Certain Prohibitions on Cash
According to the available sources, the Ministry of France is planning to limit the authorization to pay with cash, a step that is likely to catalyze their long-running fight against money laundering crimes. If the law is passed, users’ ability to pay with cash will be limited to 1,000 EUROS. In this case, cryptocurrency transactions might turn out to be a better alternative for French citizens.
US Agents Seize $16,000 in Cash from Traveler
A struggling actor, named Jose Rios, recently became the subject of an unfair DEA investigation, only for holding a $16,000 saving in cash. The agents didn’t even charge him of any crime, but simply took his cash away on the grounds of one law that allow them to seize people’s belongings without proving crime.