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Bitcoin ATMs Spread Despite Regulatory Murk
Lamassu Bitcoin Ventures is sending its Bitcoin ATMs to areas that may not be completely welcoming to digital currency, with its newest machine touching down today in the West Village of New York City, the birthplace of the "BitLicense" regulatory concept.
A Lamassu Bitcoin ATM
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Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University.
The Consumer Financial Protection Bureau issued a warning to consumers about the danger of digital currencies, sparking questions about whether the agency could soon seek to write new rules in that area. more »
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The Consumer Financial Protection Bureau weighed into the debate about the future of digital currencies like Bitcoin, issuing a warning Aug. 11 that they pose significant risks to consumers. more »
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In politics, every penny counts to secure a candidate's position in office. Bitcoin's low cost of acceptance, accompanied by increasing clarity from regulators over its role in campaigns, is making it a more appealing choice for accepting donations. more »
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The Justice Department's legal case against American Express will not benefit consumers and will weaken competition, said Jeff Campbell, executive vice president and CFO of American Express. more »
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The Federal Deposit Insurance Corp. has withdrawn a list of merchant categories, including payday lenders, debt consolidation firms, pornography businesses and others, that it said warranted heightened attention by banks processing their transactions. more »
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Between the proposed virtual currency regulations in New York and those already established in Texas, the future of Bitcoin would be brighter if more states follow the Lone Star State's example, says Jacob Farber, senior counsel for Perkins Coie LLP. more »
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Supporters of Bitcoin and other digital currencies have created a trade association called the Chamber of Digital Commerce to make their voices heard in Washington. more »
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The Justice Department's Operation Choke Point isn't really about combatting fraud, says Jason Oxman, CEO of the Electronic Transactions Association. Federal regulators simply don't like high-risk merchants, such as payday lenders and guns dealers, he says. more »
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Benjamin Lawsky, superintendent of the New York Department of Financial Services
The New York Department of Financial Services has released proposed framework for its much-anticipated BitLicense. Though the agency describes its proposal as a balanced approach that does not stifle innovation, its rules might be considered too strict for many companies. more »
Ben Milne, CEO, Dwolla
The alternative payments provider Dwolla insists that regulating Internet traffic will hurt startups, and it is among a group of companies that will argue this point before the Federal Communications Commission on July 15. more »
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American Express charges the highest average fees of any card network and Amex’s rules prevent retailers from taking steps to reduce those costs, the Department of Justice argued in court on July 7. more »
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A recent GAO report called for the Consumer Financial Protection Bureau to be involved in interagency discussions about virtual currencies, but others say the bureau's jurisdiction is murky, technology may move too fast for consumer rulemaking and too much regulation too early could kill innovation. more »
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American Express Co. drives a hard bargain with businesses that want to attract its affluent cardholders: treat the card like any other form of payment despite higher processing costs if you want those customers. more »

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