Financial service industries have come a long way by adopting decentralized ledger technology (DLT), or more frequently termed blockchain. This is only the beginning. With blockchain technology entities can avoid many of the traditional hurdles. At the same time, jurisdictional regulations are attempting to keep up with the exponential spread of blockchain technologies throughout a […]
As we gradually witness the rise of the nascent cryptocurrency market, the government is becoming more curious. Currently, the cryptocurrency market is so volatile that the government believes it is imperative to assign stricter regulations on these new instruments. Recently, the state of Washington passed regulations on cryptocurrencies with an intention of protecting consumers. This […]
Concord, NH – New Hampshire exempted bitcoin from money transmission regulation by a bill signed into law by Governor Chris Sununu. The bill states that individuals “who engage in the business of selling or issuing payment instruments or stored value solely in the form of convertible virtual currency or receive convertible virtual currency for transmission to […]
WASHINGTON, D.C. —Today, the Consumer Financial Protection Bureau (CFPB) brought action against Intercept Corporation, a payment processor and two of its executives, Craig Dresser and Bryan Smith for the illegal authorization of withdrawals from consumer accounts by their clients. The lawsuit was filed in federal district court in which the CFPB asserts that Intercept ignored […]
A law enacted on April 17 by the state of Washington, that among other things, formally made provision for the inclusion of virtual currency to its money transmitter laws. The new law that will officially go into effect in July this year will include virtual currency within the definition of money transmission. According to the […]
California Assembly Bill 129 will make digital currencies, which include Bitcoin, Dogecoin, and others, legal in the state of California. California Governor Edmund Brown must sign for the bill to pass. An archaic Corporation law called Section 107 barred the usage of forms of money not considered legal US tender. Bill 129 would confirm digital […]
AVA Retail's new “closed loop invisible payments system” may hit small retailers soon.
The post Amazon Go’s Ultra Mobile Payments Scheme May Work Elsewhere with AVA Retail Plan appeared first on Payment Week. […]
A new credit product geared toward 160 million Americans with little or no credit emerges.
The post Elevate Credit, Mastercard Team Up On “New Middle Class” Mobile Payments appeared first on Payment Week. […]
Telegram CEO Pavel Durov is battling against Russian security forces, after they implemented a block on Monday, April 16, 2018, on the messaging app when it refused a court order to “grant state security services access to its users’ […]
In a collaborative effort to test the Brave platform and its digital advertising token, the Basic Attention Token (BAT), the Dow Jones Media Group has joined up with the Brave Software team.On April 18, 2018, the two organizations announced that […]