Tag Archives: tightens

Malta tightens rules on UK arrivals hours after green list announcement

Countries on the “green watchlist” are at risk of returning to the amber list if there is a spike in COVID-19 cases in the region.

Currently, other EU countries like France, Germany or Italy, are already imposing a quarantine on UK visitors.

After the initial excitement to be added to the UK’s “safe list”, now many other green list destinations are also urging the Governments to tighten rules for all British arrivals.

The Balearics, in Spain, have also requested tougher measures with Iago Negueruela, the official in charge of tourism in the Balearic Islands making a statement this morning.

This post originally appeared on Daily Express :: Travel Feed

We tried to warn you! EU tightens stranglehold as Dutch MPs BLOCK veto powers – Nexit fury

The proposal to “not exclude EU Treaty amendments in advance”, was passed by a majority of Dutch MPs on Wednesday. Announcing the parliamentary victory, MP Sjoerd Wiemer Sjoerdsma, who proposed the motion, tweeted: “Proposal accepted!

“The Netherlands will no longer stand in the way of fundamental reforms in Europe.

“Whether it concerns climate, migration, security or human rights: this is necessary.

“This open and realistic attitude suits the Netherlands.”

But the news sparked the outraged reaction of Nexit Denktank campaigners who pointed out Mr Sjoerdsma’s confusion between Europe and the EU.

They wrote: “Can someone first explain to these people the difference between the EU and Europe?

“Only 40 percent of the continent of Europe is in the EU and the four largest cities in Europe are NOT in the EU.

“They talk as if they represent the whole continent of Europe.”

Reacting to the legislation, some Dutch citizens also lashed out against Mr Sjoerdsma.

One person said: “Sad.

“We are handing over our own decision-making powers to a disorganised bunch of money-lenders and we will soon have nothing to say in our own country.”

READ MORE: Quiet, Leo! Varadkar shamed for arrogant UK outburst

But the Nexit campaigners hit back: “That argument has long since become obsolete.

“It turns out that the UK can do very well without it.

“What the Netherlands needs is a good trade agreement, not a political union in which we have to take countries like Cyprus and Romania into account.”

The Dutch Parliament also agreed to support the start of EU membership talks with Albania and thus the organisation of the first intergovernmental conference as soon as EU leaders decide.

The decision will be formally voted through the Dutch parliament today.

It followed Mark Rutte’s government’s positive report on Albania’s progress with EU accession reform and fulfilment of conditions set in March 2020 by the Council of the European Union.

The news was greeted by Prime Minister Edi Rama who said it confirmed his assessment that the Dutch had so far refused Albania on pure political grounds, due to the March 2021 general elections.

The start of talks requires the unanimous decision of all 27 EU member states. The Netherlands, whose government and parliament must both agree on EU enlargement issues, has so far blocked this phase of Albania’s progress on grounds of insufficient achievements.

The Dutch parliament has agreed with the government and European Commission assessment that Albania has met the necessary conditions for talks to start after the EU leaders summit on 24-25 June.

This post originally appeared on Daily Express :: World Feed

Bitcoin price plunges to lowest this year after China ‘tightens the noose’, claims expert

According to a notice published on the People Bank of China’s (PBOC) official WeChat account, virtual currencies including Bitcoin can not be used in the Chinese economy as they are not considered “real currencies”. It added that financial institutions are not allowed to price products and services using cryptocurrencies.
Antoni Trenchev, managing partner and co-founder of Nexo in London, said it was “the latest chapter of China tightening the noose around crypto.”

China effectively banned internal “coin offerings” of cryptocurrencies back in 2017 which forced a lot of traders to exchange overseas.

Last month PBOC announced it was testing “digital yuan” in several regions as a way of monitoring the economy.

Much like the UK’s anticipated “Britcoin” the currency is controlled by China’s central bank as a new form of electronic money.

However, Kyle Bass, CIO of Hayman Capital Management said the new Chinese currency was a “Trojan horse” that could undermine the economies of the West.

Speaking to CNBC on Tuesday, he said: “I think China can force the adoption of their digital currency for trade and investment in China per se, unless the U.S. and the West outlaws it or basically disallows it.

“I believe the digital yuan is the largest threat to the West that we’ve faced in the last 30-40 years, and it’s because it allows China to actually get their claws into everyone in the West and allows them to potentially export their digital authoritarianism.”

At time of writing, Bitcoin’s price is hovering around $ 43,000 (£30.3k) after dropping from a short-lived three month surge which saw the price rise to an all time high of $ 63,000 (£44.4k).

READ MORE: Bitcoin warning as price volatility tipped to ‘go all over the place’

Those considering buying Bitcoin should consider the risks of investing in cryptocurrencies, which are notoriously volatile. Here in the UK, the Financial Conduct Authority (FCA) warned: “If you invest in cryptoassets, you should be prepared to lose all your money.”

Bitcoin’s recent price plunge has been attributed to Elon Musk pulling the plug on Tesla sales using the cryptocurrency over environmental fears.

It has been observed that Mr Musk’s musings on Twitter are usually followed by a rise or fall in Crypto prices, especially in Dogecoin in which Mr Musk has a particular interest.

Speaking on his decision to suspend vehicle purchases using Bitcoin, Mr Musk said: “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

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“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.”

Tesla has previously purchased $ 1.5 billion worth of Bitcoin back in February and made over $ 100 million in profits when they offloaded 10% of the holdings in a test of the market’s liquidity.

Mr Musk added: “Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.”

Alongside Bitcoin, other cryptocurrencies including Ether and Dogecoin also saw a price drop.

This post originally appeared on Daily Express :: Finance Feed

Turkey tightens control on crypto firms after 2 exchanges collapse

Author: RT
This post originally appeared on RT Business News

Cryptocurrency providers are now subject to terrorism-financing and money laundering laws in Turkey, a new presidential decree says. It comes amid an investigation into local platforms which abruptly halted operations in April.

The decree was published in the Official Gazette on Saturday, taking effect immediately. Forcing the platforms to abide by the regulations could make it easier to investigate digital currency holdings, according to Bloomberg.

The crypto industry has been under increased scrutiny in Turkey in recent weeks. On Friday, a ban on the use of digital assets for purchases came into force. Turkey’s central bank previously cited “irreparable” damage and transaction risks as reasons for the ban.

Also on rt.com Turkey bans use of cryptocurrencies for payments, citing possible ‘irreparable’ damages

In another shock for Turkish cryptocurrency investors, two local exchanges went under last month. Thodex, one of the largest in Turkey, was the first to collapse, and its CEO, Fatih Faruk Ozer, left the country. It was initially thought that Ozer could have taken up to $ 2 billion in investors’ funds, but the Interior Ministry later said the company’s portfolio totaled $ 108 million.

The government has asked Interpol to put the businessman, who is believed to be in Albania, on red notice, and has launched an investigation into the platform. Dozens were detained as part of the probe and a Turkish court jailed six suspects, pending trial, including the CEO’s siblings, on Friday.

Also on rt.com Crackdown on cryptocurrencies may be coming, warns Kraken CEO

A separate investigation is ongoing regarding a smaller crypto exchange, Vebitcoin. The platform ceased operations after facing financial strain last week. Later, the local regulator blocked the domestic bank accounts of the platform and arrested its staff as part of the investigation.

Interest in crypto assets has been growing in Turkey amid rising inflation and the depreciation of the lira. Turkey’s annual inflation surged above 16% in March, well above the central bank’s 5% target level.

For more stories on economy & finance visit RT’s business section