Banks

Egypt Limits Bank and ATM Withdrawals Citing Rampant Cash Outflow and Coronavirus Fears

</header> <strong>On Sunday, the Central Bank of Egypt (CBE) announced it had instructed financial institutions in the country to put withdrawal limits in place for cash. Regional reports disclose that Egyptian residents can only withdraw 10,000 Egyptian pounds ($640) and businesses can only withdraw 50,000 pounds ($3,200). The CBE cited concerns over the covid-19 outbreak …

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While Some Hoard Dollar Bills, Others Envision Germy Cash’s Quick Demise

Is a cash-based society sustainable in the age of coronavirus? Hoarders say yes, health experts say maybe and the visionaries say no: COVID-19 is the catalyst for systemic payments change. This wrecking ball of a virus stands to change the way consumers, and businesses, think about their use of physical currency. In many countries, cash …

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Major South Korean Bank Prepares to Launch Crypto Services as Government Green-Lights Regulation

While You’re Under Quarantine, Check These Sites for Remote Crypto Jobs If you are on the lookout for a job in these pressing times, when the coronavirus pandemic has limited public movement and shut down businesses, it’s worth exploring opportunities to work from the relative safety of your home. The number … read more. The …

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Printing Money from Thin Air – How the Fed Reduces Purchasing Power and Makes You Poorer

</header> <strong>Unless you have your head in the sand, you’ve probably realized that governments and central banks can print money out of thin air and in unlimited amounts. The United States and the Federal Reserve have been creating money from nothing for years because they had exhausted all their monetary policies. Despite the fact that …

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World’s Largest Banks Losing Stock Value During Weeks Marked by Pandemic

</header> <strong>The spreading coronavirus infection is taking a toll on the global economy and traditional financial institutions are already hurting. The world’s largest banks have seen their stocks losing value over the past weeks and months while facing cash withdrawal pressure and preparing to deal with a shrinking asset base. </strong> Also read: US Cash …

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Coronavirus Bailouts: US Banking Watchdogs Waive Hundreds of Regulations, Red Tape, Financial Oversight

</header> <strong>In 2019, cryptocurrency and blockchain businesses saw more regulation than any year prior. G20 finance ministers, central bank governors, and regulators cracked down hard on the bitcoin industry. However, during the covid-19 scare, U.S. authorities have been dropping regulations on a whim, making it easier on the financial sector. On March 22, the Federal …

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Silvergate Bank Clients Experience Money Transfer Issues from Fedwire

A cryptocurrency-friendly firm is having problems receiving money transfers. According to sources available to Cointelegraph, clients at Silvergate Bank have been experiencing issues with certain types of wire transfers since Friday. The firm has stated an outage by their payment processor, Fedwire, is responsible for the drop in service.  CEO Alan Lane confirmed the bank …

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STO Platform’s Registration with Traditional Bank Helps Move Security Tokens Forward

Security token offering (STO) platform, Blockpulse, has obtained registration with the ACPR Bank of France. Blockpulse “registered at ACPR Banque de France with its partner, Lemonway, the leading European digital payment solution for investment platforms,” Blockpulse COO Marien Irzykiewicz told Cointelegraph. The company also alleges that the outfit is the first STO platform to achieve …

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Italian Bank Opens Bitcoin Trading to 1.2 Million During Lockdown

Growing crypto adoption and the COVID-19 outbreak has encouraged Italy’s Banco Sella to launch a Bitcoin trading service The trading is conducted via the bank’s Hype platform, with the bank acting as an intermediary to mitigate against potential security risks with cryptocurrency exchanges. With the country in lockdown and everyone stuck at home, the bank …

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US Cash Crisis: Withdrawal Limits Spark Bank Run Fear

</header> <strong>The entire world has been focused on the economy as the coronavirus outbreak has devastated global markets. While stocks, commodities, and barrels of oil plunge in value, there’s been considerable demand for cold hard cash in certain countries. According to reports, Wall Street’s elite has been trying to withdraw $30-50K per person as they …

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