Fitch: Regulation Could Rob Bitcoin of its Low-Cost Appeal
Global credit rating agency Fitch Ratings believes bitcoin is still too small to affect traditional payment systems and national currencies. The agency's Why Forum published its findings in a report on bitcoin, dubbed 'Sizing up Bitcoin'. The report points out that bitcoin transactions in February 2014 averaged a meagre $68m per day. Despite a tenfold increase year-on-year, bitcoin's average daily transaction volume pales in comparison to Western Union and PayPal. The two payment processors averaged $225m and $492m per day in 2013. Fitch examined bitcoin's potential role in the financial....
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Mixed martial arts welterweight Jon Fitch is the first MMA fighter to be fully paid in bitcoin, according to Inverse.com, a culture and technology news site. As an international MMA competitor, he claims he gets paid easier and faster with bitcoin. Fitch loves cryptocurrency and he thinks it is bringing about a new form of commerce he calls "techno-feudalism." A former top welterweight contender for Ultimate Fighting Championship, Fitch said a lot of MMA fighters have difficulty with payment because mixed martial arts is an international sport. It can take weeks to get paid. This is....
Fitch Ratings, the American credit agency and member of the ‘Big Three’ credit agencies, has published a paper on El Salvador’s adoption of bitcoin and making the crypto asset legal tender in the country. Fitch believes that after the country enforces the new tender law it will face “volatility risk” alongside “regulatory and operating risks” as well. Fitch Ratings Says El Salvador’s Bitcoin Adoption Invites New Risks In 21 days, El Salvador’s bitcoin tender law will be enforced after the bill to make bitcoin legal tender in the....
Ratings agency Fitch released a statement on Tuesday with regard to bitcoin acceptance in the corporate playground. The agency says they have observed "great corporate acceptance" of the digital currency in its form as a payment mechanism (to which many enthusiasts would say, "duh!". The observation comes in the wake of DISH Network, Newegg, Expedia, and 1-800-FLOWERS.com announcing their adoption of the digital currency. In addition, Fitch points to the publishing of the 'Coin Pocket' app to the iOS App Store following Apple's change of heart when it comes to approving....
American credit rating agency Fitch Ratings, one of the ‘Big Three’ credit rating agencies, has published a report that says stablecoin growth could affect securities and commercial paper (CP) markets. The agency says stablecoins could be “disruptive” and “stablecoin-related turbulence” could “transmit shocks” to other markets.
Fitch Ratings: ‘Stablecoins Could Be Disruptive for CP Markets’
On Monday, the ‘Big Three’ credit agency Fitch Ratings published a report on stablecoins and the growth of....
While CBDCs could help central banks address the decline in cash payments, some risk factors remain. Central bank digital currencies, or CBDCs, could pose a threat to financial systems if related risks are not managed, Big Three credit agency Fitch Ratings has warned.Fitch Ratings released a report on Monday entitled “Central Bank Digital Currencies: Opportunities, Risk and Disruption,” which discussed the major trade-offs between risks and benefits associated with CBDCs.Fitch Ratings stated that the key benefits of a retail CBDC lie in its potential ability to expand government-backed....