By CCN Markets: The Italian government is mulling the decision to issue a “parallel currency” in a move that could plunge the eurozone into crisis - and provide the best case yet for mass bitcoin adoption. In the same week, the Italian deputy prime minister proposed a tax grab on cash and valuables stored in safety deposit boxes. These crisis policies expose deep cracks in the fiat monetary...
By CCN: The European Central Bank (ECB) has found that crypto does not pose risks to financial stability in the Eurozone. The central bank does recommend, however, that European legislatures create a uniform approach to crypto-assets. Crypto Market? Too Small to Matter, ECB Says The ECB has set up an advisory committee called the Crypto-Assets Task Force (ICA-TF) to examine the ramifications and...
By CCN.com: A majority of Europeans believe cryptocurrencies will still be around in ten years time, according to new data. A survey by bitFlyer Europe, a regulated crypto exchange, which polled 10,000 individuals in ten European countries, revealed that 63 percent believe in the staying power of digital currencies. However, Europeans are less confident about bitcoin. While 63 percent think...
In the onslaught of fake news allegedly stemming from U.S. media sources, readers can now add another mark to their expanding chalkboard. Late last week, it was reported that Americans would be required to apply for visas beginning in 2021 if they wanted to visit Europe. U.S. citizens could apply through what’s known as the European Travel Information and Authorization System (ETIAS). The...
With newly released data showing slower growth in the euro-zone, the struggle of Deutsche Bank, and BNP Paribas cutting $683 million in expenses, the euro may be in deep trouble. In the last quarter of 2018, a period in which even U.S. banks underperformed, the global markets division of BNP Paribas recorded a $256 million loss. BNP Paribas, the largest bank in France, ended 2018 with a...
By CCN.com: According to new figures from the International Monetary Fund (IMF), the European Central Bank (ECB), and the Chinese government, Europe and China are continuing to struggle following a poor year of growth in 2018. ECB President Mario Draghi said on January 24 that downside economic risks could pose a threat on the economy of the euro-zone, citing geopolitical uncertainties, the U.S...
By CCN.com: Tesla has been granted the go-ahead to begin selling its mass-production, low-cost electric car in Europe. Beginning February, Tesla will be able to sell the long-range version of the Model 3, per Bloomberg. From Tesla’s website, the long-range model runs for 310 miles on one full charge. Permission was granted by the Dutch vehicle authority Rijks Dienst Wegverkeer (RDW). The...
By CCN.com: As the eurozone economy slows down and the European Central Bank (ECB) run out of ways to fuel the market, market strategist Russell Napier has said the euro may be in trouble. Speaking to FT, the analyst firmly stated that the global monetary system is beginning to show serious vulnerabilities, noting that the demise of the euro may trigger the collapse of the existing financial...