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Economic Turmoil in Hong Kong Escalates as Colonial-Era Law Is Imposed


Colonial-era law has been imposed in Hong Kong causing the economic situation to degrade further, with empty ATMs and bank runs becoming a new norm. Protestors and non-protestors alike fear the martial law-like ERO (Emergency Regulations Ordinance) could eventually grind the city’s financial...

Banking Giant HSBC Set to Fire 10,000 More Employees


The banking sector continues to suffer drastic layoffs as the global economic outlook remains uncertain. The latest financial institution reported to be set for cutting a massive amount of workers is HSBC, which has already announced firing thousands of people just a few weeks ago. Also Read:...

Indian Supreme Court Sets Date to Hear Crypto Case Next Week


The Supreme Court of India has confirmed a new date to hear the crypto case after multiple delays. During the last hearing, the court directed the Reserve Bank of India (RBI) to reply to crypto exchanges’ representation within two weeks, which the central bank has done. Also read:...

Bank Raided, Arrests Made but RBI Still Restricts Withdrawals


The crisis has elevated at the cooperative bank recently placed under regulatory restrictions by India’s central bank. Multiple branches have been raided and several arrests were made. However, the RBI continues to impose a withdrawal limit, preventing bank customers from accessing their...

Turkish Government Freezes Over 3 Million Bank Accounts


Hundreds of thousands of businesses and individuals with tax obligations to the Turkish state have received foreclosure notices this week informing them about their frozen bank accounts. The government of Turkey, which is struggling with financial and economic problems under geopolitical pressure...

Reserve Bank of India Restricts Indian Police to Seize Crypto Scam Amount


Legal implications on Banks by the Reserve Bank of India (RBI) have caused trouble for the Pune city police department wanting to cash out seized cryptocurrencies worth of 8.42 crore INR. That amount of Indian currency was acquired by selling 244.0925 Bitcoins. The cryptocurrency was seized from...

7 Crypto ETPs Now Trading on Main Swiss Stock Exchange


Switzerland’s principal stock exchange now has seven cryptocurrency exchange-traded products (ETPs) listed. They allow investors to either gain exposure to individual cryptocurrencies or invest in portfolios of top cryptocurrencies. Four ETPs track the prices of single cryptocurrencies. Also...

RBI Ban Stops Indian Police From Cashing Out Seized Crypto


The effects of banking restrictions by the Reserve Bank of India (RBI) have reached an Indian police department. The police sold some cryptocurrencies they seized only to find out that they cannot access the Rs 8.42 crore (~$1.2 million) proceeds due to the current RBI banking ban. Also read:...

Zimbabwe Bans Popular Mobile Money Services From Paying out Fiat Cash


Zimbabwe is once again showing the need to take away from politicians the power to control normal people’s money. The government there is now trying to cope with the results of mismanaging the economy by preventing citizens from using their fiat currency as they see fit. Also Read: Bittrex...

German Bank Predicts BTC at $90,000 After Next Halving


You wouldn’t expect a traditional financial institution to come up with a very optimistic forecast about the future of a cryptocurrency or an honest appraisal of its design. But Bayern LB, a lender based in the rich German province of Bavaria, has surprised the crypto community. In a recently...

Trump Pressures Fed for More Rate Cuts as Mega Banks Drain the Balance Sheet


U.S. President Donald Trump is pressuring the central bank to cut interest rates even further as a spike in oil prices has offset the Federal Reserve’s ‘normalization’ tactics like rate-cutting and overnight repos. Additionally, the mega bank JP Morgan Chase (JPM) is being blamed...

New Evidence Escalates Panic as RBI Still Limits Bank Withdrawals


Customers of a cooperative bank with 137 branches across India still do not know the fate of their money, which was restricted by the central bank. Evidence of alleged bank fraud has since surfaced, but the RBI still insists that India’s banking system is safe, despite many citizens being...

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