US Economic News


coca-cola-blockchain-031918.jpg Coca-Cola Co. has joined with the U.S. State Department to launch a project using blockchain technology to fight against forced labor globally. U.S. tech company Bitfury Group, Emercoin and Blockchain Trust Accelerator or BTA, a non-profit organization, are also involved in the project.

venezuela-petro-031918.jpg The United States is set to announce fresh sanctions against Venezuela's fledgling cryptocurrency 'Petro,' a report said. The Trump administration's move comes in response to the Latin American regime's attempt to bypass U.S. economic sanctions by launching a national cryptocurrency. President Donald Trump is expected to sign an executive order Monday, which restricts the use of Petros in U.S.

fsb-cryptos-031618.jpg The Financial Stability Board, an international group of central bank regulators and government ministers, says that cryptocurrencies do not threaten to global financial stability.

cryptocurrency-dailyroundup-031918.jpg Cryptocurrency prices rebounded at the start of the week as sentiment improved after the G20 signaled that is it not planning to regulate cryptocurrencies for now as they do not pose considerable risk to financial stability. Separately, a central banker also expressed concern that regulation of cryptocurrencies must not stifle innovation.

MAS-RaviMenon-Bitcoin-031618.jpg Central banks and regulators are finding it a challenge to regulate cryptocurrencies, but they must be careful that innovation is not stifled in their eagerness to rein in these new tokens, Monetary Authority of Singapore Managing Director Ravi Menon said.

Bitcoin-IndiaRegulations-031618.jpg Cryptocurrency exchanges in India have witnessed a deep fall in trading on bitcoin this year, a new report says. India's prominent finance daily, the Economic Times, reported the gloomy picture of the country's cryptocurrency market Friday, quoting Mohit Kalra, Chief Executive of bitcoin exchange Coinsecure. He says the volume of trade across all crypto exchanges in India has reduced.

Consumer-031618.jpg A preliminary report released by the University of Michigan on Friday showed an unexpected improvement in U.S. consumer sentiment in the month of March. The preliminary reading on the consumer sentiment index for March came in at 102.0, up from the final February reading of 99.7.

Industrialproduction-US031618.jpg After reporting a modest decrease in U.S. industrial production in the previous month, the Federal Reserve released a report on Friday showing a substantial rebound in production in the month of February. The Fed said industrial production surged up by 1.1 percent.

Housingstarts-US-031618.jpg New residential construction in the U.S. showed a sharp pullback in the month of February, according to a report released by the Commerce Department on Friday. The report said housing starts plunged by 7.0 percent to an annual rate of 1.236 million in February.

cryptocurrency-dailyroundup-031618.jpg Finance ministers and central bank governors from across the world are heading to the Argentine capital Buenos Aires this weekend to discuss their main concerns regarding the financial system and cryptocurrency regulation is set to be on top of the agenda. Elsewhere, cryptocurrency mining is apparently under attack from several sides as miners are set to face higher electricity charges.

New residential construction in the U.S. showed a sharp pullback in the month of February, according to a report released by the Commerce Department on Friday. The report said housing starts plunged by 7.0 percent to an annual rate of 1.236 million.

NYPSC-bitcoinmining-031618.jpg Cryptocurrency mining in upstate New York is going to be expensive as authorities are now allowed to charge higher electricity rates on such businesses, so as to avoid raising costs for other customers. The New York State Public Service Commission Thursday ruled that upstate municipal power authorities could charge higher electricity rates to cryptocurrency mining companies.

G20-2018-Crypto-031618.jpg The Group of Twenty (G20) finance ministers and central bank governors are set to discuss next week an international regulatory framework to bring cross-border Cryptocurrency operations under unified control. The meeting in Argentine capital Buenos Aires will focus on the policies needed to protect the global economic upswing against downside risks, and to finalize much-needed reforms.

NAHBHousingndex-031518.jpg Homebuilder confidence in the U.S. saw a modest decrease in the month of March, according to a report released by the National Association of Home Builders on Thursday. The report said the NAHB/Wells Fargo Housing Market Index edged down to 70 in March from a revised 71 in February.

HDFC-Crypto-Block-031518.jpg India's HDFC Bank has banned the transaction of cryptocurrency using its debit or credit cards. The second largest private sector lender in India informed the decision in an e-mail sent to all its cardholders citing concerns expressed by the Reserve Bank over the risks of virtual currencies. "You may be aware of the increasing global apprehensions regarding bitcoin, cryptocurrencies."

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