A weekly section discussing how general events can influence the near-term future of cryptocurrency sector
Switzerland Sells 10-Year Government Bonds
With an intention to keep its currency value far above its European counterparts, the Swiss National Bank decided to sell its 10-year debt at a negative yield of -0.055. It is probably the first time when a central bank has made investors pay for their debt privileges. The bonds costed around $242 million.
Individuals World Apart Sacked by Police for Carrying Hidden Money
The countries that have been suffering revenue deficits due to poor government policies seems to be morally forcing citizens hide their money, justifies two separate reports from Argentina and Pakistan. The first one speaks of a 54-year old Uruguay man who was sentenced one-and-a-half-year in jail for drawing out $122,00 and hiding them under his clothes. The other incident, though similar, is of a successful model who was reportedly flying off from Pakistan with $500,000 against the permissible amount $10,000. He now might face 14 years in prison.
Seems like carrying such a money in Bitcoin or other cryptocurrency might have avoided detection at large.
Bank of Japan Keeps Record Stimulus
In order to revive the economy, the Bank of kept its plan to expand its monetary base at an annual rate of 80 trillion yen intact. The third largest economy meanwhile is facing challenges related to its preset inflation target of 2%, thanks to sinking old prices and economic weakness post recession.