The House of Representatives voted Tuesday to water down key parts of the 2010 Dodd-Frank Act, weakening the Commodity Futures Trading Commission’s power to regulate derivatives. The resulting bill helps big banks and the Koch brothers.
Exchange glitches, arrests, government crackdowns, and volatility haven’t been able to stop people wanting to get their hands on the bitcoin, and the CEO of BTC China Bobby Lee told RT the bitcoin revolution will be bigger than the Internet.
The world’s biggest bitcoin exchange by volume has reopened allowing yuan-to-bitcoin deposits. This goes against an order by the People’s Bank of China, which said all bitcoin trading should stop before the Chinese New Year, January 31.
Pricing probes have forced London’s biggest banks to consider a systemic overhaul of the dated practice of "fixing" gold prices, which sets spot pricing for the world’s $20 trillion physical gold market.
Indonesia, a global leader in exports of mineral resources, has banned its mining companies from selling raw ore abroad. The law, aimed at boosting domestic processing, is likely to cost Jakarta huge short-term revenue losses and cause mass lay-offs.
Clients mislead by 13 of Britain’s biggest banks and credit card insurer CPP have agreed a proposed reimbursement scheme, which means the estimated seven million customers should get a share of a $2 billion in compensation by the spring.