HSBC Closes Account Used to Support Hong Kong Protesters

HSBC Closes Account Used to Support Hong Kong Protesters By Lubomir Tassev For months on end, Hong Kong has been the scene of intensive confrontation between pro-democracy activists and its Beijing-supported government. It now seems the financial establishment has taken a side in this conflict. Banking giant HSBC has decided to close an account used to support the protest movement in the special administrative region of China. Also read: Economic Turmoil in Hong Kong Escalates as Colonial-Era Law Is Imposed Account Collecting Donations for Demonstrators Suspended The corporate account was…

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Global Trend Against Cash Intensifies as China Joins the Squeeze

Global Trend Against Cash Intensifies as China Joins the Squeeze By Lubomir Tassev For various reasons, a growing number of nations are experiencing the rapid development of cashless society. Paper money may become extinct in some countries in the not-so-distant future. Prompted by the spread of private and decentralized cryptocurrencies and the threat of losing control over their monetary policies, more and more governments are now working to create central bank issued digital currencies to replace banknotes and coins. China has joined the campaign against cash, although not at the…

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