Under compliance reasons, banks interfere with the purchase of crypto money by blocking funds transfer to trading platforms or closing customer accounts using virtual currency. Australian banks are leading the way.
The situation in Venezuela illustrates the reality of a country in crisis and the need for people and government to hold physical assets as a bargaining chip.
Despite a significant shift investments towards crypto-currencies, 2017 remains a record year for gold, with an increase of +13.6%.
The economic situation in the United States and the increase in online sales not only led to the bankruptcy of several major companies, but also to a reduction in the number of stores for others companies.
Due to pressure from its shareholders and low returns, the company decided to sell this branch of activity.
During a visit to China in April 2017, the vice-president of the Russian central bank, Sergey Shevtsov, discussed the idea of cooperation between BRICS and the gold market. The contours of this cooperation are beginning to be revealed, with physical gold at the centre of this project.
Bank failures continue and directly affect savers.
While struggling for survival, the world's third largest platinum producer has just announced its acquisition by Sibanye Stillwater, one of the top 10 gold producers in the world.
On Nov. 12, someone moved almost 25,000 bitcoins, worth about $159 million at the time, to an online exchange. The news soon rippled through online forums, with bitcoin traders arguing about whether it meant the owner was about to sell the digital currency.
Surrounded by the American and international financial sanctions, Venezuela is seeking by all means to get out of the financial crisis that is hitting. Cryptocurrency is his new solution.