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| May 23, 2019

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Dow Ends Day Down 617 as Trade War Escalates

May 13, 2019 |

Stocks are closing sharply lower as an escalating trade war between the US and China rattles investors, the AP reports. Technology companies, which do a lot of business with China and would stand to lose greatly in an extended trade battle, fell far more than the rest of the market…

Barr skips session with House Democrats, escalates standoff

May 3, 2019 |

Barr skips session with House Democrats, escalates standoffWASHINGTON (AP) — Attorney General William Barr has informed lawmakers on the House Judiciary Committee that he will skip a Thursday hearing on special counsel Robert Mueller's report, escalating an already acrimonious battle between Democrats and the Justice Department.

Yahoo News – Latest News & Headlines

Trump’s Defiance of Congress on Subpoenas Escalates

April 25, 2019 |

The White House and Congress are embroiled in a growing fight over Congress’ ability to force officials in the executive branch to testify. Democrats in Congress see the White House resistance as a violation of checks and balances laid out in the Constitution. But President Trump says House Democrats are…

Libya fighting escalates as Khalifa Haftar's forces bomb Tripoli airport

April 9, 2019 |

Libya fighting escalates as Khalifa Haftar's forces bomb Tripoli airportFighting for control of the Libyan capital escalated dramatically on Monday when rebel forces loyal to Khalifa Haftar carried out an airstrike on city's only operating airport.  The attack came amid reports that the internationally recognised government of National Accord led by Fayyez al-Sarraj had begun conscripting migrants held in detention centres to fight against Gen Haftar's troops. At least one jet was seen firing rockets at the Mitiga airport in northern Tripoli on Monday afternoon. The airport said it would be closed for the foreseeable future. No casualties were reported. At least 2,800 people have been displaced since Gen Haftar’s self-styled Libyan National Army launched an assault on Tripoli last week. The LNA said on Monday that 19 of its soldiers had been killed in recent days. The Tripoli based health ministry, on the government side, said at least 25 people including fighters and civilians had been killed and 80 wounded in fighting to the south of the capital. The World Health Organization (WHO), the United Nations' health agency, said two doctors had been killed while treating civilians and trying to evacuate patients from combat zones in the city. Territorial control in Libya Ahmed Al Mandhari, the WHO's regional director for the eastern Mediterranean, said in a statement Monday that the targeting of doctors was "unacceptable." Gen Haftar announced his assault on Thursday, citing the need to clear the city of "terrorists". Tracking progress on the ground is difficult partly because both sides are made up of loose alliances of militia groups rather than professional armies. But despite clashes in the southern suburbs, the LNA advance appears to have made little progress. Residents said LNA troops retreated from the former international airport, 15 miles south of the city centre, on Monday. Analysts say Gen Haftar’s assault has compelled the disparate militia groups who control western Libya to band together, presenting a harder target than he may have anticipated.   “He created that alliance by going in to early, too strong,” said Jalel Harchaoui, a research fellow at the Clingdendael Institute, a think tank. Khalifa Haftar shaking hands with United Nations Secretary General Antonio Guterres Credit: AFP/Getty Images “It prompted potential opponents who were considering siding with Haftar to do an about face and fight him.” Mr Harchaoui warned that the international community appeared to have little if any diplomatic leverage to reign in the fighting and that the situation could “worsen dramatically.” “If the airstrikes continue escalating, you could see the two camps committed in a very blind manner to saving face, and that means a lot of destruction,” he said. Meanwhile reports emerged that the internationally recognised government is offering migrants held in detention centres their freedom in exchange for military service. Haftar's forces have come up against militias supporting the UN-backed government Credit: REUTERS/Hani Amara Thousands of asylum seekers, many of them sub-Saharan Africans, are stuck in detention centres along the coast around Tripoli, hoping to cross the Mediterranean to Europe.  Many did national service in their own countries. “Reports of some Sudanese being released, given military uniforms and told that they may have to fight,” Vincent Cochetel, special envoy of the UNHCR for the central Mediterranean, wrote on Twitter. He also said that the situation for asylum seekers in Libya is becoming increasingly desperate as fighting escalates between the two sides. Vehicles and militants, reportedly from the Misrata militia, gather to join Tripoli forces, in Tripoli Credit: STRINGER/EPA-EFE/REX “Unverifiable reports received suggesting that no more food is reaching some detention centres in Libya, where refugees and militants are kept arbitrarily,” Mr Cochetel said. Medicins San Frontieres, an NGO, said the fighting has left refugees and migrants in detention centres "exceptionally vulnerable." "The Ain Zara detention centre is now in an area of active fighting, with more than 600 vulnerable people trapped inside, including women and children. In another detention centre, reports suggest that some people are being conscripted to work for armed groups," the group said in a statement.   The European Union's foreign policy chief called on all sides to stop fighting and start talking. Speaking at a meeting of EU foreign ministers in Luxembourg, Federica Mogherini said all sides should "go back to the negotiating table under the auspices of the UN and make sure that the Libyan people get what they really want, which is peace and stability for their country." Jeremy Hunt, the foreign secretary, said Britain was engaging “all partners” to send the message that there is “no military solution” to the crisis. Earlier he said there was “no justification” for the LNA assault.

Yahoo News – Latest News & Headlines

Carlos Ghosn is said to be indicted in Tokyo as Nissan pay scandal escalates

December 10, 2018 |

Carlos Ghosn was indicted by Japanese prosecutors three weeks after his arrest for allegedly understating his pay at Nissan Motor Co., people familiar with the matter said, while local media reported that the carmaker will also face charges.

The former Nissan chairman will also be re-arrested for…

L.A. Times – Business


Yemen: Fighting escalates in Hodeidah despite ceasefire call

November 7, 2018 |

Violence in Yemen’s key port city of Hodeidah is the worst seen in months, the United Nations humanitarian coordinator has warned, putting more civilian lives at risk in the war-torn country. – RSS Channel – World

The Daily: China Escalates Crackdown, Russia Chases Shadows, UK Warns of Scams

August 25, 2018 |

The Daily: China Escalates Crackdown, Russia Chases Shadows, UK Warns of Scams

Following the closing of social media accounts of crypto news organizations and after forbidding hotels from hosting crypto-related events, China has turned its attention to banning payments to trading platforms based outside the country. We’ve covered the escalation of the crackdown in The Daily. Also, Russia’s Interior Ministry wants to introduce criminal liability for shadowy crypto activities and UK’s financial watchdog has updated its crypto scam warning.  

Also read: Crypto Exchange Rents Pricey HK Offices, UAE Realtor Sells Homes for Crypto

China to Block Payments to Foreign Crypto Exchanges

The Daily: China Escalates Crackdown, Russia Chases Shadows, UK Warns of ScamsAfter banning ICOs and domestic crypto-yuan trade last year, and recently cracking down on crypto-media and venues hosting events in the space, China is taking another step to further tighten the noose on the crypto sector. According to local media reports, Chinese regulators have announced intentions to curb online payments for cryptocurrency to overseas exchanges.

A Chinese regulatory body responsible for monitoring online financial risks now wants to investigate transactions to 124 trading platforms, many of which are Chinese-run businesses that moved abroad following the ban imposed in September, 2017. According to Xinhua, the agency noted that domains and IP addresses of websites located outside of the People’s Republic could be banned in order to decrease the number of people using them. The next step would be to apply control measures in regards to China-based companies providing transaction services to local residents.

In early July, the People’s Bank of China announced that in result of the 2017 ban bitcoin (BTC) trading in renminbi (RMB) had dropped to less than 1 percent of the total global volume. According to the central bank, the restrictions on cryptocurrency trading with the Chinese yuan and crowdfunding prompted the exodus of 88 virtual currency exchanges, including some of the world’s leading trading platforms like Binance and Huobi, and dozens of Chinese ICO projects.

Criminal Liability for Shadowy Crypto Activities Proposed in Russia

The Daily: China Escalates Crackdown, Russia Chases Shadows, UK Warns of ScamsAs part of the ongoing tuning of the upcoming crypto regulatory framework in Russian, the federal government in Moscow has been discussing the possible introduction of criminal liability for shadowy circulation of cryptocurrency, local media reported. According to official documents obtained by Izvestia, the Ministry of Internal Affairs has asked the Finance Ministry for its opinion on the matter. The Ministry of Economic Development, however, thinks it’s too early to talk about criminal liability related to the turnover of cryptocurrencies which is not yet legalized and regulated.

Three crypto bills were adopted on first reading by the lower house of Russia’s parliament, the State Duma, in May. Deputies tried to synchronize the drafts and eventually postponed the final voting for the next parliamentary session this fall. Now the Interior Ministry (MVD) has decided to join the debate – it wants to propose some corrections in the legal texts regarding the circulation of open source cryptos like bitcoin and ethereum. MVD pushes for mandatory registration of crypto entities with relevant government agencies that implement financial and tax regulations along with the establishment of criminal liability for any shadowy activities in the sector.

UK Financial Watchdog Updates Scam Warning for Brits

The Daily: China Escalates Crackdown, Russia Chases Shadows, UK Warns of ScamsUK’s Financial Conduct Authority (FCA) has recently updated its warning on crypto investment scams amid rising number of complaints and reports. Admitting that cryptocurrencies such as bitcoin and many related activities are not currently regulated in the United Kingdom, the watchdog, nevertheless, notes that some types of crypto-products may involve regulated investments and the firms that sell them may need authorization. In the latest version of the document, the FCA educates the public on how crypto scams work and advises Brits about how to protect themselves and what to do in case they’ve been targeted by scammers.

The regulator points out that crypto fraudsters often advertise on social media using images of celebrities or well-known figures to promote cryptocurrency investments. The ads lead to professional-looking websites and the scams, usually based abroad, claim to have an office in London. “Be wary of adverts online and on social media promising high returns on investments in cryptocurrencies or cryptocurrency-related products,” the FCA warns, noting that most firms advertising and selling crypto investments are not authorized to do so in Britain.

This is not the first warning pertaining to cryptocurrencies issued by the FCA. In November 2017, the regulator cautioned retail investors who may be considering or soliciting cryptocurrency contracts for difference (CFDs), emphasizing the risks associated with price volatility and transparency, as well as charges and funding costs which may manifest in the cryptocurrency CFD markets. In September last year, the authority published a warning regarding initial coin offerings (ICOs).

What are your thoughts on today’s news tidbits? Tell us in the comments section below.

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The post The Daily: China Escalates Crackdown, Russia Chases Shadows, UK Warns of Scams appeared first on Bitcoin News.

Bitcoin News

Turkey Raises Tariffs on U.S. Products as Dispute Escalates

August 16, 2018 |

Turkey sharply raised tariffs on some U.S. imports as a court kept a detained U.S. pastor under house arrest, extending a fight between the two NATO allies that has sent the country’s currency plummeting. What’s News Europe

Trump escalates his criticism of Federal Reserve interest rate hikes

July 21, 2018 |

Before this week, it had been more than a quarter-century since a sitting U.S. president publicly pressured the independent Federal Reserve on interest rates.

On Friday, President Trump did it for the second day in a row.

In unprecedented back-to-back statements, Trump escalated his criticism of…

L.A. Times – Business