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Robinhood Financial to Release Crypto Trading Which is Free of Commission

Robinhood Financial reported the release of crypto trading without any charges in four US states: California, Massachusetts, Missouri, and Montana. The rundown is to be broadened later. Robinhood Financial, California-based money related company releases crypto trading, which has no commission in some U.S. states, with others on the waitlist.

Which are the cryptocurrencies which are now charge-free?

Investors in California, Massachusetts, Missouri, and Montana can exchange Bitcoin and Ethereum with no expenses, however, clients will still be in charge of expenses charged by the underlying exchanges. More coins which can be traded are to be included later.

About Robinhood Financial

Robinhood Financial is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which ensures securities clients of its individuals up to $500,000. It was opened in 2013 and Robinhood is a well-known stock trading application inside recent college grads with 4 million enrolled clients.

In January this year, the company propelled Robinhood Crypto which gives rivalry to the several other bitcoin trades including US-based Coinbase, which is among the main trading platforms. Presently, with absence of charges, Robinhood is probably going to bait more crypto investors.

As a feature of the release, the stock brokerage additionally released the dispatch of a web-based social network platform named Robinhood Feed. It is an online social dialogue forum that gives investors a probability to talk about various digital currencies, advertise patterns and news from the web.

Right now, Robinhood Financial has over $100 billion in exchange volume on its business platform

The primary declaration of the Robinhood’s intends to begin zero-expense crypto trades which pulled in one million clients in simply four days, the first four days. The primary thought of this sans commission exchanging is to convey digital forms of money to a more extensive audience formed of investors, giving them a platform that “democratizes” trading through extending the group of potential investors utilizing mobile and online applications.

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Crypto Finance News Personal Finance

Ripple (XRP) is Getting Ready for an Agreement within an International Banking System

This week, a spokesperson from Ripple has made an interesting statement: the company is currently working with 40-50 international central banks, among which the Bank of Thailand. Specialists don’t know yet if the public relations representative aimed to officially announce this or if it was an accident, but they are sure that this step could open new ways for Ripple.

In fact, the thing that puts Ripple in front of its competitors is the will to extend the collaboration with international banks and thus integrate into a central banking system that can work for many countries. In this case, Bitcoin will be disadvantaged by the possibility of remaining decentralized if they go mainstream. Of course, the announcement made by Ripple is not that surprising, because their intention was predictable; they have had discussions with many central banks and they cannot make a press conference all the time.

The latest trends focus on cross-border payments

The announcement made by Ripple was part of a panel discussion about cross-border payments. The fact that they decided to go through with the idea of a transnational banking system is the result of efforts dedicated to making international payments possible. Ripple saw that the only way in which this dream can come true is by establishing a partnership with central financial institutions which have the adequate infrastructure for holding cross-border payments.

The Bank of Thailand and other central banks are umbrellas that cover many smaller banks with local activity, so Ripple hopes that by including them in the process of international payments, the small institutions will follow. Their idea could work, if we consider that nowadays people, capital and merchandise move a lot. In the end, another question remains: 40-50 banks mean an overestimation or a realistic number? In any case, people are excited about this partnership, so Ripple should keep up the good work.

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Economy

Nighttime lighting could cost New Brunswick municipalities more money

NB Power wants to increase its rates for night lighting, but its proposal is opposed by the Union of Municipalities of New Brunswick.

The organization denounces the tariff proposal that it considers unfair. “New Brunswick Power, in the current hearings on the 2018-2019 rates, is proposing a tariff that will have a revenue-to-cost ratio of about 195%, almost double,” said Margot Cragg, Executive Director of the Union des municipalités. .

In fact, according to the organization, the municipalities will get a lot more out of their pocket than the crown corporation, and the real payers will be the residents.

“It’s the residents in the municipalities who will pay with their taxes and who will lose if the municipalities can not provide the infrastructure used every day,” said Margot Cragg.

NB Power wants to increase its rates for night lighting, but its proposal is opposed by the Union of Municipalities of New Brunswick.

The organization denounces the tariff proposal that it considers unfair. “New Brunswick Power, in the current hearings on the 2018-2019 rates, is proposing a tariff that will have a revenue-to-cost ratio of about 195%, almost double,” said Margot Cragg, Executive Director of the Union des municipalités. .

In fact, according to the organization, the municipalities will get a lot more out of their pocket than the crown corporation, and the real payers will be the residents.

“It’s the residents in the municipalities who will pay with their taxes and who will lose if the municipalities can not provide the infrastructure used every day,” said Margot Cragg.

Richibucto will also feel the discomfort in case of new pricing upward.

“Now, there is one thing that is certain because at some point, depending on what it represents as cost, it will be necessary to make assessments to know how one responds to these needs, to these financial realities” says Roger Doiron, Mayor of Richibucto.

The quality of infrastructure and the provision of services could take a hit. The Union of Municipalities calls for equity among its members and NB Power.

“We told CESP:” You guys said there’s a principle that says the recipe-cost ratio should be about the same. “It’s clear that right now, what is being proposed is not following not your principle. What are you going to do? Asks Margot Cragg.

The Energy and Utilities Board (CESP) is giving itself until April to address the demand from municipalities.

By email, NB Power acknowledges the concerns of municipalities.

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Economy

Privatization of Hydro One: Court of Appeal agrees Kathleen Wynne

The highest court in Ontario has ruled that there is no evidence that Premier Kathleen Wynne or any of her ministers acted in bad faith by partially privatizing Hydro One.

The Court of Appeal upheld a previous decision dismissing a lawsuit against the province.

It was filed in 2016 by the Canadian Union of Public Employees, which accused the Liberals of abuse of power over the government’s decision to sell shares in the electricity distributor.

The union claimed that the sale of the electricity distributor’s shares had been completed with the purpose of rewarding companies that contributed to the Ontario Liberal Party’s fund.

Premier Kathleen Wynne has always defended herself by saying that the Ethics Commissioner had looked into the matter and found nothing wrong with his government.

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Economy

New federal measures to protect steel and aluminum industries

The Trudeau government is taking further steps to ensure that the Canadian and US steel and aluminum industries are not “unfairly” disrupted by foreign imports. This decision follows the Trump administration’s imposition of customs duties on imports of these two metals, for which Canada is exempt until May 1st.

According to a statement released Tuesday by the Prime Minister’s Office, the Canada Border Services Agency (CBSA) will be able to conduct “new anti-circumvention investigations” that will allow it to “identify and stop companies trying to avoid customs duties “in force in the country.

Foreign companies, it is argued, could, for example, seek to circumvent these rules by slightly modifying their products or having them assembled in Canada or in a third country.

In order to properly determine the applicable tariffs on steel and aluminum imports, the CBSA will also “find it easier to determine whether prices in the exporter’s domestic market, which are used for comparison purposes. , are reliable or distorted.

“We already have very strong measures in place, but we want to make sure of two things: that foreign steel is not unfairly dumped into the Canadian market, and that this steel does not find its way into the North American market. “summarized Public Safety Minister Ralph Goodale, who is responsible for the CBSA.

These measures are intended to ensure that there is no transshipment or diversion of low-priced steel from anywhere in the world to the Canadian market. We want to protect our industries from steel and aluminum and these measures are designed to ensure that there is no circumvention of Canadian laws and regulations.

Ralph Goodale, Minister of Public Safety

New committees with representatives of the federal government, provincial and territorial governments, and other interested parties will also be created to “ensure that imports do not harm jobs in Canada and North America,” says the firm. Prime Minister.

Unions will be granted the status to participate in trade remedy proceedings “to determine whether foreign exports are hurting producers” in the country, including hearings before the Canadian International Trade Tribunal.

“We have always assured the Americans that, compared to the diversion [misappropriation, Editor’s note] and these issues, we have always had good measures,” commented Prime Minister Justin Trudeau briefly in the corridors of Parliament. . “But it’s to show that we’re doing even more. This is a good thing. ”

According to the Prime Minister’s Office, no less than 71 trade remedy measures currently target imports of steel and aluminum, but it is important to improve them “even more” in order to “ensure uniformity of the rules of the game. “.

The regulatory changes will be further clarified in the Official Gazette and will be the subject of a 15-day consultation.

Intervention demanded by steel producers

In a letter to Prime Minister Trudeau dated March 13, Canadian Steel Producers Association President Joseph Galimberti urged the federal government to take action to counter the “significant” risk of steel “diversion” to Canada.

He pointed out that 90 countries had exported steel to the United States in 2017, and that the risk that tariffs imposed by the Trump administration would lead to such diversions could be “aggravated” if Mexico, the European Union or other countries were also adopting measures to protect their internal market.

“If only 15% of current US steel imports are diverted to Canada, prices will collapse and import market shares could double, which would provide nearly 50% of domestic demand, and would devastate Canadian steel producers, “wrote Mr. Galimberti.

Prime Minister Justin Trudeau himself launched attacks on China and its business practices during a Canadian tour of the sector’s businesses in mid-February. China is the largest steel producer in the world.

In Hamilton, on March 13, he said, for example, that China produces lower quality steel and sells it at a more attractive price to influence world prices.

“Their desire is to put in trouble facilities like this, that pay well to their employees and produce very good quality materials, but can not compete with a country that sells at a loss to control the market,” he said. launched.

Canada is, until further notice, exempt from customs duties of 25% on steel imports and 10% on aluminum imports imposed by the Trump administration until May 1st.

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