Two of China's most widely used bitcoin exchanges have announced that they will suspend bitcoin and litecoin withdrawals for one month effective immediately. In public posts that showcase the increasingly coordinated nature of exchange policy in the region, both OKCoin and Huobi said on Thursday that the move was a bid to bolster their anti-money laundering (AML) capabilities and prevent "illegal transactions". In the case of OKCoin, only it's OKCoin.cn portal is affected.
Twitter on Thursday beat analysts' expectations for earnings per share in its fourth quarter before the opening bell, but missed revenue estimates, prompting a steep fall in its stock price in pre-market trading. The San Francisco-based company, led by CEO Jack Dorsey, reported adjusted earnings of 16 cents per share on revenue of $717 million, up from a year-earlier $710.5 million.
No matter how strong the technical perspective of a Gold surge can be, changes in the fundamental situation of the US Dollar are capable of destroying any kind of forecast, by changing the whole base of the markets. Due to a decision made by the President of US Donald Trump, the yellow metal fell on Thursday and continued to do so on Friday. If the situation persists, the bullion will fall at least to the 1,219.20 mark, where the 38.20% Fibonacci retracement level is located at. On the other hand, the yellow metal might rally and surge back up to the weekly R1 at 1,233.81.
President Donald Trump pledged Thursday he will soon unveil a “phenomenal” tax cut plan. "Lowering the overall tax burden on American business is big league. That's coming along very well. We're way ahead of schedule," Trump said during a White House meeting with airline industry executives on Thursday. Trump and GOP congressional leaders have come under fire recently from some conservatives for not taking action on popular campaign promises like cutting taxes and repealing Obamacare.
A group of Geneva-based art dealers, lawyers, and consultants formed a Responsible Art Market Initiative in an effort to alleviate international concerns over the city’s freeports. It is intended to raise awareness of the illicit trafficking of art and antiquities, and the ways in which art facilitates money laundering and other financial crimes. The project was launched at the Artgenève Salon d’art on January 26 with the publication of a set of guidelines designed to crack down on illegal activity in the city.
Omidyar Network, the philanthropic investment arm started by eBay founder Pierre Omidyar, has invested $493,000 into an experiment giving people in Kenya free money. The Omidyar Network is hoping the study will help advance the debate around basic income from broad theoretical terms to more practical considerations. Universal basic income (UBI) is the notion that a government should guarantee every citizen a yearly sum of money, no strings attached. The thinking is that such a program would relieve economic stress as automation technology severely reduces the demand for labor.
PayPal revealed on Wednesday that it is being investigated for violations of anti-money laundering regulations and U.S. sanctions. The California-based online payment processor said in a securities filing that it had received a subpoena from the U.S. Department of Justice seeking information related to its “historical anti-money laundering program” as well as new subpoenas related to potential sanctions violations from the U.S. Department of the Treasury.
Germany reported a new record trade surplus in 2016, official data showed Thursday, exporting €253 billion more than it imported. Europe's biggest economy exported goods worth nearly €1.21 trillion ($1.29 trillion) last year, 1.2% more than in 2015, the Federal Statistical Office said. Imports rose to €954.6 billion, a 0.6% increase. Both exports and imports broke previous records set in 2015. The statistical office said that Germany's current account surplus climbed to €266 billion from €252.6 billion.
There is one force, today, that can be compared to that of a typhoon in terms of change. It is, according to William Mougayar, as important in shaping the future to come to what the World Wide Web has been in 1995. Mougayar wrote about this technology in his book The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology, with a foreword by Vitalik Buterin, and published by John Wiley & Sons P&T.
Swiss unemployment rose in January to 3.7%, compared with 3.5% in December. This was stated this morning by the State Secretariat for Economic Affairs (SECO), according to which in late January the amount of unemployed people registered at the regional offices of placement was 164'466 , 5'094 more than in the previous month and 822 more than in January 2016 . Among young people (15-24 years) the number of unemployed increased by 566 units (+ 2.9%) to reach a total of 19'782, which still corresponds to 1,398 persons less (-6, 6%) compared to 12 months ago. People who are looking for employment were 226'861, 3'448 more compared with December and 4'110 more with January 2016).
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