EU Imposes Banking Rules on Cryptocurrencies Without Granting Banking Rights: Expert
The Bitcoin community has reacted to the European Union's announcement that digital currency control will be on its list of priorities in 2017. Matthias Klees, a founding member of LocalCrypto and the CEO of EuropeCoin, has called on the cryptocurrency community not to contribute to confusion caused by incorrect wording. Impossible to regulate. Klees states: "The barrier to understanding cryptocurrency, for an average person, is high enough. Wrong wordings are preventing the public from understanding what is going on. The European Union is trying to regulate cryptocurrency businesses,....
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As cryptocurrencies grow in popularity, they will continue to threaten revenue streams of the traditional banking system, according to a new report from the British Banking Association (BBA). A section of The Digital Disruption: UK Banking Report looks specifically at cryptocurrencies and the impact they have already had, and will continue to have, on people's perceptions of monetary transfer.
On June 3, 2015, Vancouver, British Columbia, will host “Digital Finance 2015,” Canada’s first fintech and banking innovation conference, at the Vancouver Club on West Hastings in the city’s trendy West End.Digital Finance 2015 will feature two keynote speakers: Peter Vander Auwera, co-founder of Innotribe innovation will talk about Innovation in banking: from tactics to strategy. Sam Maule, emerging payments expert with Carlisle & Gallagher, and one of the top innovation influencers will talk about FinTech's Disruptive Force in Banking.
The United States Federal Reserve is studying the impact of online payment options such as PayPal and Bitcoin to determine potential risks associated with them. The Bitcoin community is apprehensive following recent comments of Federal Reserve Vice Chair Janet Yellen, who said, "We have been talking at the Fed and with banking organizations, trying to more carefully understand what the concerns are with these new payment mechanisms". While that comment was made in response to a question regarding regulatory scrutiny over online payment providers such as PayPal, Bitcoin users are fearful,....
Many participants at the Revolution Banking 2016 event in Spain were interested in the Blockchain technology, which resulted in a lively discussion during the event Where is the blockchain heading? Whether the distributed ledger technology really has the potential to solve the issues currently faced by the banking and financial sector? These were some of the topics discussed in the last month’s Revolution Banking 2016 summit, which happened in Madrid, Spain on the 10th of May 2016. Revolution Banking 2016 was an event focused on new technologies, innovations, and collaborations in the....
The banking sector is enthusiastic to implement blockchain technology in order to automate most of the processes, This may lead to future job cuts in the sector. The banks were never charmed about Bitcoin for multiple reasons. For starters, when the digital currency was first introduced following the collapse of the US banking system, it was hailed as the killer of the traditional banking sector. As time passed, the digital currency gained enough traction to actually threaten the traditional banking industry with its easy and fast transactions at literally no transaction costs. The fierce....