XRP rules could push Ripple out of U.S.; Nets acquires Swiss POS company
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Ripple may leave San Francisco because of a dispute over how the XRP token may be regulated in the U.S.
The blockchain company may wind up in London, where it expects XRP would not be regulated as a security, a classification that entails stricter rules, report CNBC, which interviewed CEO Brad Garlinghouse. Garlinghouse said the U.K.'s FCA has "made it clear" that XRP is not a security.
The SEC has not ruled on XRP, though it has suggested XRP should be regulated as a security, causing a battle with Garlinghouse that has raged for several years. Garlinghouse has said XRP and Ripple are separate entities.
Alliance Data Systems Corp. is moving its card processing services to Fiserv after years of handling it in-house for its private-label, co-branded and commercial card portfolio.
Alliance, based in Columbus, Mo., expects the move to improve operational efficiencies while adding new digital capabilities and enhancements, ADS said in a press release.
This month, Alliance Data added tools enabling merchants to send offers to customers in real time with the ability to apply for credit directly from its merchant partners’ websites.
A proposed law in China would ban all yuan-based stablecoins except for China's own pending central bank digital currency.
The government is positioning the move as a way to prevent virtual currency risk, but it would hurt crypto businesses in China which use stablecoins to trade, reports Coindesk.
China has made several moves over the years to curtail cryptocurrency, including outright bans. The digital yuan is in part an effort to stem the influence of cryptocurrency in China, as well as large western technology and data companies.
European payments technology company Nets has acquired CCV Schweiz, a Swiss point of sale terminal seller.
The purchase will expand Nets' markets in Germany, Austria and Switzerland. CCV Schweiz's portfolio includes 34,000 payment terminals. Terms of the deal, which is expected to close in the next few weeks, weren't disclosed.
Nets is also the subject of a potential acquisition, as Nets' private equity ownershave invited bids from potential buyers in recent weeks.
From the web
African money transfer firms thrive as pandemic spurs online remittances
REUTERS | Monday, October 26, 2020
Having fled an economic implosion in his native Zimbabwe, Brighton Takawira was able to support his mother back home with modest earnings from a small perfume business he set up in South Africa.
India's Future Retail says examining order against Reliance deal
REUTERS | Monday, October 26, 2020
Future Retail said on Monday it was examining an order by an arbitration panel to put on hold its $3.38 billion asset sale to Reliance Industries, and would take steps in enforcement proceedings to close the deal without delay.
PayPal drops domain registrar Epik over its 'alternative' digital currency
ENGADGET | Sunday, October 25, 2020
PayPal may be friendlier to digital currencies, but that doesn’t mean it’s giving everyone a free pass.
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