As Regulation Tightens, Bitcoin Services Get Creative
As regulators heighten their scrutiny of Bitcoin businesses, several digital currency supporters are looking for business models that do not subject them to the cumbersome requirements they would face as money services businesses or money transmitters.
Cyril Houri, co-founder and CEO of Brawker.
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The Fed's hotly-anticipated road map outlining plans to speed up the U.S. payment system will call for the creation of several industry-led task forces and recommend building a new infrastructure to facilitate real-time payments. more »
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Lawsky says cybersecurity will be "one of the most important issues" for his agency "in the months and years ahead."
New York regulator Benjamin Lawsky may use the cybersecurity rules he's proposed for virtual-currency companies as a model for traditional banks. That would subject the financial institutions his agency supervises to the most stringent data-security rules anywhere. more »
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An executive order signed by President Obama on Friday that mandated the adoption of chip and PIN technology in government cards and enabled its use in facilities like Post Offices is a "meaningless gesture" that smacks of politics over substance. more »
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Bitcoin adopters in Ohio have been some of the most vocal about how state laws need to evolve to encourage the use of digital currency, but the Ohio government seems to want that change to come from the courts rather than the legislature. more »
WePay CEO Bill Clerico
WePay is adding white-label risk management and other merchant services in an effort to reach digital marketplaces that are under pressure to improve user experience. more »
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The House Oversight Committee, which earlier this year admonished the Department of Justice over its tactics for combating fraud in the payments system, has turned its focus to the role of the Federal Trade Commission in the ongoing crackdown. more »
Chris Larsen, a Ripple founder and its CEO.
Ripple Labs Inc., a venture capital-backed challenger to Western Union and Bitcoin, is for the first time gaining access to the U.S. banking system, and security hawks are raising eyebrows. more »
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“We need to make sure that the legal and regulatory framework can keep up effectively” with changes to the payment system, said CFPB Director Richard Cordray
Just two days after Apple unveiled its new program designed to speed the adoption and use of mobile payments, Consumer Financial Protection Bureau Director Richard Cordray cited the burgeoning field as a key area of concern. more »
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MasterCard Inc. won a court clash with European Union antitrust regulators who refused to hand over a study comparing the costs of bank cards with cash. more »
Bethan Cowper, head of international marketing at Compass Plus.
In Indonesia, Bank Tabungan is partnering with financial services software company Compass Plus to navigate the issuance of EMV-chip cards ahead of its national deadline. more »
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The Consumer Financial Protection Bureau issued a warning to credit card companies that use deceptive marketing to mask hidden charges within promotional interest rates. more »
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Although unintentional, missteps in communications by regulators can create headwinds for companies developing payments innovation. more »
Josh Rossi
Josh Rossi is best known for starting the first Satoshi Square, a gathering of Bitcoin enthusiasts who trade the virtual currency for cash in New York City's Union Square, in 2013. He has since brought his ideas to new companies and new parts of the world. more »

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