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Thread: Forex news from InstaForex

  1. #1671
    Senior Member IFX Gertrude's Avatar
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    ECB to Thwart Any Move to Lure British Banks Post-Brexit



    The European Central Bank will counter any efforts to begin a race to the bottom on financial rules as European states scramble to lure companies away from Britain after its exit from the European Union.

    ECB board member Sabine Lautenschläger said Wednesday that any entity that intends to transfer to the eurozone must meet their requirements, regardless of whether it comes from the United Kingdom or other European country.

    Lautenschläger cautioned any financial institutions seeking to circumvent rules to keep rendering banking products and services without a passport should revise their plans. She said they prioritize having secure and stable banks.

    The ECB official recognized UK-based banks are experiencing challenges to obtain a new license in the EU, saying the central bank would become accommodating in terms of approving methodologies used by banks in evaluating capital requirements and risks.

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  2. #1672

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    Bitcoin Stands at $1,000 on Woes about Digital Currency's Future



    Bitcoin steadied at $1,000 following it slumped in the previous session, as traders mull over the certainty of the technology behind the digital currency.

    The cryptocurrency gained 1.2% on Thursday, trading at $1,049.20. It previously traded at $997.

    Traders are still digesting the prospect of establishing another trading venue for the digital currency, the SEC's rulings on bitcoin ETFs, and China's crackdown on exchanges.

    In the first week of this year, bitcoin surged 20% before losing 35% despite apprehensions China was poised to curtail trading. It then soared 75% between mid-January and mid-March.


    News are provided by Instaforex

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