Remove Bitcoin Remove Office of the Comptroller of the Currency Remove Stablecoins
article thumbnail

SEC Chair: Flaws In Modern Payments Systems Are Boosting Bitcoin

PYMNTS

Securities and Exchange Commission (SEC) Chairman Jay Clayton thinks inefficiencies in traditional payments are boosting favorability for bitcoin, a report from Coindesk says. Clayton, speaking on CNBC, said bitcoin's popularity came from that disappointment in mainstream payments.

Bitcoin 105
article thumbnail

Bitcoin Daily: US National Banks To Hold Reserve Currencies For Stablecoins; Stripe To Pay Massachusetts $120K In PlexCoin ICO Role

PYMNTS

The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. Acting Comptroller of the Currency Brian P.

article thumbnail

Beyond Bitcoin: Cryptocurrencies Flirt With Mainstream Commercial, Consumer Commerce

PYMNTS

Bit by bit — but more than bitcoin by bitcoin — cryptos are inching into the mainstream, for both consumer and commercial applications. Elsewhere, Square announce last month that it has invested $50 million — approximately 1 percent of its total second-quarter assets — to purchase roughly 4,709 bitcoins. “We

Bitcoin 83
article thumbnail

Bitcoin Daily: US Bank Regulator Says Licensing Crypto Firms As FIs ‘Makes Sense’; Korean Luxe Retailers Pay Rewards Via Blockchain

PYMNTS

Office of the Comptroller of the Currency (OCC) Chief Operating Officer Brian Brooks said he thinks digital currency firms could go under a federal licensing program in the event they offer what could be called payment services, CoinDesk reported. Meanwhile, MiL.k,

article thumbnail

Crypto 2020: One Step Up; Two Steps Back

PYMNTS

If one measures success for digital currencies in buzz — and in price appreciation for many of the marquee names — then 2020 stands out as a banner year. Here are some of cryptos’ key developments for 2020: Bitcoin Goes Higher And Higher. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies.

article thumbnail

How Treasurers Can Prepare For A Real-Time Payments Ecosystem

PYMNTS

Morgan’s initiatives in cryptocurrency and stablecoin technology have ramped up in recent months, for instance. More recently, Visa issued public support of bitcoin and other digital assets in a July blog post that similarly highlighted opportunities in real-time payments. Preparing Treasurers.

article thumbnail

New Regulations Could Push US Dollar Stablecoins Into The Payments Mainstream

PYMNTS

For stablecoins, concept is edging closer to reality, especially for digital dollars – with a dose of regulatory clarity. To that end, as Jeremy Allaire , CEO of Circle , told PYMNTS’ Karen Webster, a number of trends are converging to bring stablecoins into the mainstream of commercial and consumer payments.