Chinese Payments Association Wants Banks to Identify, Eliminate Bitcoin Activity
A new report from Chinese financial news agency Caixin says the authorities could be gearing up for another examination of third-party exchange funding methods. The article covers an alleged statement from the Payments and Clearing Association of China (PCAC) - a national non-profit organization operating under the business guidance and oversight from the People's Bank of China (PBOC). The PCAC recommends stricter enforcement of exchange funding rules, particularly those concerning the third-party voucher systems that most exchanges employed in the wake of bank account closures in May.....
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The Japanese Bankers Association (JBA) is working toward the development of a common blockchain platform for the country’s banks to begin trials of core banking processes including money transfers. The JBA is essentially an association that represents and works on behalf of 252 member institutions that are either headquartered or operate with branches in Japan. The association includes full member banks, bank holding companies, bankers’ associations and associate member banks that include nearly 50 foreign banks with a presence in Japan. Notably, the JBA is also the operator of the Zengin....
The Euro Banking Association (EBA) has published two reports on Digital Customer Service Interfaces (DCSI) and crypto-technologies, with the intention of detailing the electronic payments landscape of the future. The reports have been announced at the EBAday payments conference in Amsterdam, Finextra reports. The Euro Banking Association is a practitioners' body for banks and other service providers supporting a pan-European vision for payments, with membership including more than 180 institutions from across Europe and beyond. Its mission is to provide payment professionals with a....
The war on cash has been a favorite pet project of the economic central planners for quite some time now. They want to eliminate hand-to-hand payments so that governments can control, document and tax everything. The governments hate paper cash as it is so hard to track and the light in the darkness for them to rectify this is Bitcoin and its distributed ledger but they want control of it first. Although you won’t hear anything about this in the mainstream press the wheels are already in motion to eliminate the paper cash system and among other tell-tell signs that this is the case was in....
San Francisco-based Ripple Labs, the startup behind the digital payment network Ripple, has joined the International Payments Framework Association (IFPA). The Association, whose members include the likes of ACH, NACHA and SWIFT, provides rule sets, best practices and guidance on how to improve cross-border payments. Nilesh Dusane, director of business development at Ripple Labs, said that the company was
BTC-e has opened up USD/CNH, BTC/CNH, and LTC/CNH markets today. Withlooming PBOC action that would end Chinese Bitcoin exchange's access to domestic bank accounts, Chinese traders are undoubtedly looking for new exchanges to trade on. Along with Chinese RMB (CNH to BTC-e) trading comes RMB deposits, which are handled through an international bank. An international bank means that Chinese traders wishing to convert fiat to crypto through this route will be subject to the Chinese $50,000 annual limit. In fact, people are starting to realize that the PBOC's still shrouded notice to regional....