27th July 2016
In a rather extraordinary move, four of Australia’s largest banks have written to Australia’s competition regulator requesting permission to join together in a collective boycott whilst they negotiate with third-party mobile wallet services including Apple Pay, Android Pay and Samsung Pay. The banks seeking permission include 3 of the ‘Big… Read More
26th July 2016
The European Commission – the executive arm of the European Union – has proposed a directive aimed preventing the use the financial system for terrorist financing which includes a central database for bitcoin and virtual currency users’ identities and wallet addresses accessible to government financial intelligence units (FIUs). Read More
26th July 2016
A Miami-Dade judge ruled Monday that Bitcoin is not actually money, a decision hailed by proponents of the virtual currency that has become popular across the world. In a case closely watched in financial and tech circles, the judge threw out the felony charges against website designer Michell Espinoza, who… Read More
21st July 2016
When a top executive at HSBC Holdings PLC was told a client had approved a huge currency exchange that stood to enrich the bank by millions, federal prosecutors say he couldn’t believe his luck. “Ohhhh, f — ing Christmas,” replied Mark Johnson, the bank’s global head of foreign-exchange cash trading,… Read More
14th July 2016
The European Commission published a new directive draft last week proposing to extend strict anti-money laundering (AML) regulation to both virtual currency exchange services and custodial wallet providers. Intended to counter “money launderers, tax evaders, terrorists, fraudsters and other criminals,” the directive could mean that many Bitcoin companies in the… Read More
7th July 2016
The European commission said yesterday (July 5) that it was proposing strict new rules for companies that exchange or store digital currencies such as bitcoin. The European Union’s executive arm wants to make exchanges and storage services comply with the anti-money-laundering rules that govern banks and other financial institutions. Read More
5th July 2016
The European Central Bank unveiled a new 50 euro banknote on Tuesday to replace its most widely counterfeited bill and reaffirm its commitment to the use of cash. The new bill will go into circulation in April 2017 with vending, ticketing and other machines accepting it from day one. Each… Read More
5th July 2016
Bitcoin was created to revolutionize the way we pay for things. The decentralized control, quick payment processing and blockchain technology Bitcoin championed was intended to disrupt the status quo in payments. The Bitcoin platform was released in 2009, and was created to give the power of payments to the people using… Read More
30th June 2016
Crypto-currencies like bitcoin that facilitate anonymous, untraceable online financial transactions will have to be regulated to stop terrorists, drug dealers and online criminal gangs taking advantage of them, a top Justice Department official said. “Just as we did with currency … we put in different regulations and reporting requirements that made it… Read More
29th June 2016
Whether bitcoin is actual currency is at the forefront of a first-of-its-kind money-laundering case in Florida to be decided Friday. In February 2014, Michel Espinoza was arrested in a Miami Beach motel for agreeing to sell $30,000 worth of bitcoin to an undercover police officer he had met on an… Read More