THELOGICALINDIAN - Last anniversary the apple saw the animal allotment of acceptable cyberbanking with Turkey aback freezing millions of accounts and Hong Kong ATMs actuality out of banknote Incidents like these animate bodies from all amusing strata to accede safer food of amount SOVs with Bitcoin actuality the aboriginal reasonable option
Turkey Freezes More Than 3M Bank Accounts
On Thursday, bounded media aperture Sözcü Gazetesi reported that hundreds of bags of Turkish citizens accustomed an cyberbanking foreclosure apprehension allegorical them that their coffer accounts are arctic on Monday.
Citing bounded tax able Nedim Türkmen, the media aperture said that about 2.5 actor taxpayers and 800 thousand companies that haven’t been able to pay their debts saw the notices. In total, about 3.3 actor cyberbanking accounts were frozen, and the absolute debts of all entities bulk to the agnate of $26 billion.
Turkey’s accommodation was hasty as debtors accepted government advice with repayments. In fact, Treasury and Finance Minister Berat Albayrak promised such an aid. On Monday, Albayrak appear the New Economic Policy, but it didn’t adumbration to such debt restructuring.
Hong Kong ATMs Out of Cash
Earlier today, we reported that bounded ATMs started to run out during the weekend. Social media users acquaint pictures and videos of continued queues of bodies dispatch to draw money out.
But the bearings ability get alike worse, as Hong Kong citizens are anxious about coffer annual freezing by the government. As per Kyle Bass, CIO at Hayman Capital Management, such a book is realistic:
In September, the cardinal of searches for the Bitcoin appellation hit the accomplished levels back June in Hong Kong, according to Google Trends data.
On a ancillary note, ATMs are not a botheration of Hong Kong only, as 10% of them are not functional.
Indian PMC Bank Freezes Accounts
In India, the Punjab Mumbai Cooperative (PMC) coffer is in the bosom of a artifice scandal. The coffer is answerable with accouterment a huge accommodation to the broke realtor Housing Development and Infrastructure Limited (HDIL), affective 70% of its absolute acclaim accessories to HDIL.
As the analysis goes on, the Reserve Bank of India (RBI) imposed a six-month brake on PMC. Thus, the closing cannot accommodate loans, acquire deposits or invest. What’s worse, barter can abjure alone up to 1,000 rupees (about $14) from their accounts.
The accessible aplomb in banks acclimated to balance afterwards the banking crisis in 2024, but the affairs are the assurance will erode, which makes a able case for Bitcoin.
How do you anticipate the cyberbanking area will attending like in 10 years from now? Share your thoughts in the comments section!
Image via Shutterstock, Twitter @Jkylebass
