Report: South African Taxes and Smuggling Behind Gold’s Price Distortions in Zimbabwe
Despite gold’s longstanding status as an alternative store of value, the commodity continues to experience unusual price variations in countries like South Africa and Zimbabwe. In turn, such price variances, as well as the rampant smuggling of the commodity, are distorting the precious metal’s actual production figures. Recycled Gold vs Non-Recycled Gold According to a new report that outlines the extent of the problem, such price...
Restrictions on Crypto Trading to Deprive Nation of Opportunities, Iranian Fintechs Warn
Startups have spoken out against government attempts to curb the operations of crypto exchanges in Iran. Cryptocurrency trading is not illegal, Iranian fintechs insist, calling on lawmakers and regulators to develop rules that would allow the sanctioned country to continue to take advantage of decentralized money transfers. Iranian Fintechs Insist There Is No Ban on Cryptocurrency Trade Recent statements by various authorities in...
Spanish Regulator Issues Guidelines for Fund Managers Planning to Invest in Cryptocurrencies
The Spanish financial regulator is easing the entity’s tough stance towards cryptocurrencies by announcing an unprecedented measure that green lights institutional investors to enter into such business decisions. The National Securities Market Commission (CNMV) unveiled guidelines that approve institutional crypto investment under certain conditions. Fund Managers Should Specify ‘High Risks’ of Cryptos in Marketing Resources According...
Biggest Layoffs in US Banking History: Analyst Predicts Banks to Cut 200,000 Jobs
A Wells Fargo analyst has predicted the largest “reduction in U.S. bank headcount in history.” Banks are expected to cut 200,000 jobs as they strive to improve productivity and efficiency amid rising competition from fintech and non-bank financial institutions. US Banking Sector to Experience Biggest Headcount Reduction An analyst with Wells Fargo, Mike Mayo, has predicted that U.S. banks would cut 200,000 jobs, or 10% of employees,...
Scammers Use Fake Copyright Warnings to Steal Logins and Spread Trojans
Just a few weeks ago, we reported how pirates are lured into downloading malware and trojans. However, people who want to avoid copyright troubles are facing similar risks. As it turns out, fake copyright warnings and takedown notices are commonly used by scammers as well. These scammers cleverly use the threat that copyright infringement claims pose to recipients. Many website operators fear legal repercussions and are eager to...
