China Targets Cryptocurrencies In Online Pyramid Scheme Crackdown

In India, Arun Jaitley had once said that cryptocurrency is not legalised as of now China will crack down on online pyramid schemes, including speculation masked as cryptocurrencies and online games, the public security ministry said on Friday. The ministry will act jointly with the industrial and commercial department to stamp out pyramid-type schemes, besides punishing those who swindle students and vulnerable groups, the ministry said in a statement on its website. Chinese regulators have moved to rein in financial risks associated with virtual currency trades and pyramid schemes. A…

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Crackdown on whiplash claims could knock £40 off car insurance bills

Millions of motorists could see their car insurance bills cut by £40 a year, the government says, after it announced a crackdown on the “epidemic” of exaggerated and fraudulent whiplash injury claims. The Ministry of Justice (MoJ) proposals would make obtaining a payout much tougher and, according to insurers, will end the UK’s status as the whiplash capital of the world. The proposals are intended to stamp out a “toxic” compensation culture that has pushed up motor premiums, led to consumers being bombarded with nuisance text messages and calls, and…

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Academies face crackdown amid concerns about standards

Michael Gove visits Durand Academy School in Stockwell Rex Features Struggling academies and free schools are to face a crackdown amid concerns about the quality of some chains, England’s new schools tsar has revealed. Sir David Carter, who was appointed National Schools Commissioner in December, used his first interview in the job to set out his plans to identify the 100 weakest academies and introduce a new hierarchical system for academy chains which would only allow the best to expand. Sir David announced his plans in the week that the…

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