Bitcoin For America Act: How It Aims To Transform Tax Payments And Establish ...
A new crypto bill was introduced in Washington on Thursday, focusing on the potential for utilizing Bitcoin (BTC) in federal tax transactions. Republican Representative Warren Davidson has aligned with the vision of making America the “crypto capital of the world,” as previously articulated by President Donald Trump. Davidson’s proposed Bitcoin for America Act aims to […]
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According to a new report by Accenture a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations; 9 out of 10 major banks in North America and Europe are exploring the use of Blockchain technology for payments. The report entitled Blockchain Technology: How banks are building a real-time global payment network is based on a survey of 32 top commercial banking professionals and was designed to assess their views on the potential of the Blockchain technology to transform the payments business.....
Blockchain technology could potentially transform payments, says a new report by American multinational banking corporation BNY Mellon. Although the report - titled "Innovation in Payments: The Future is FinTech" - notes that bitcoin may not survive in the long-term, the blockchain, it says, could help to reduce risk, transaction costs and improve speed, efficiency and transparency in the realm of payments. The report goes on to assert that this process does not come without a set of challenges: "Indeed, blockchain technology presents a number of challenges that have yet to be resolved,....
Banking giants Bank of America and HSBC have teamed up with the Singapore government’s IT and telecom agency on a project that applies blockchain to trade finance. Announced today, Bank of America, HSBC and the Infocomm Development Authority of Singapore (IDA) revealed they have built a blockchain application based on the Hyperledger protocol that aims to replicate the letter of credit (LC) transaction process between banks, exporters and importers. The trial finds the financial firms seeking to explore how a distributed ledger could establish trust between parties that today need to rely....
The country had to temporarily stop accepting cash bank deposits in United States dollars due to tighter restrictions set by former U.S. President Donald Trump. The Cuban government is reportedly planning to recognize and regulate cryptocurrencies for payments.According to Aljazeera, the Caribbean nation’s central bank will establish rules for mainstreaming cryptocurrency transactions. Cuban authorities are also expected to distribute relevant licenses to businesses based on the crypto-related services they provide.Some sources claim that the move to allow cryptocurrency as a legal tender....
DigitalBTC, an Australia-based digital payments company, has agreed to form a joint venture company (JVC) to distribute and market a remittance product, AirPocket. The beta launch will begin in the second quarter of this year. DigitalBTC, which is trading on the Australian Securities Exchange as Digital DC Limited, described AirPocket as a disruptive new technology product targeting the significant and established remittance market. The U. S. to Latin America remittance market is estimated to be $84 billion. The joint venture will target the remittance sector in the Latin American and....