Good morning! Here’s what you need to know.
Bitcoin got demolished. It traded down 15.1% at $768 a coin, a drop of $136 a coin. The fall came after China announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorised financing, and other issues, Reuters reports.
Whatever happens, Brexit won’t be as good as EU membership. Britain’s divorce terms with the European Union must be fair, but not as good as those for full EU members, the Prime Minister of Malta, which holds the rotating EU presidency, told a news conference.
A binary options platform is shutting down. Banc De Binary, one of the biggest and best-known providers of online trading in binary options, which allow investors to bet on short-term moves in financial assets, said it is winding down its business, citing regulatory pressures.
Brussels and London will co-ordinate on fintechs. A delegation from Belgium’s financial technology sector came to London with its finance minister this week to set up a “fintech bridge” with the British capital that will enable cooperation on the burgeoning sector.
Northern Ireland will have a Brexit say. Prime minister Theresa May said that Northern Ireland would continue to have a say in Britain’s preparations for leaving the European Union, despite the likelihood of fresh elections in the province.
Ride-hailing service Uber signed an agreement with Dubai’s transport authorities. The deal makes Uber fully regulated after a series of clashes over pricing and availability.
Fewer migrants arrived in Germany last year. Some 280,000 migrants seeking refuge entered Germany in 2016, down from 890,000 the previous year, the Interior Ministry said.
Italy won’t get a vote on work reforms. The country’s constitutional court rejected a petition calling for a referendum on a key plank of labour market legislation that was a flagship reform of ousted premier Matteo Renzi.
The banking door is open for Silicon Valley. Roughly one in three banking and insurance customers globally would consider switching their accounts to Google, Amazon or Facebook if the Silicon Valley giants offered financial services, according to a survey of 32,715 people polled in 18 countries.
The Italian Prime Minister’s heart surgery was a success. Paolo Gentiloni, who took office last month, had an emergency angioplasty to unblock an obstructed blood vessel of the heart late on Tuesday.