Archive | September, 2015

CSBS issues model regulation for Bitcoin

September 21st, 2015 by

The Conference of State Bank Supervisors (CSBS) has released a model framework to assist states that are seeking regulations for Bitcoin activities. “For financial services, these activities-based regulations already exist in most state laws, generally covering the transmitting, exchanging, and/or holding of value on behalf of another. Such financial transactions or services place the activity […]

BAFT announces FinTech initiative that aims to drive bitcoin awareness

September 21st, 2015 by

BAFT has launched an initiative to drive awareness of innovations in financial technology that are transforming transaction banking services such as cross-border payments and trade finance. The initiative is an attempt to draw attention to the various innovative technologies that are currently transforming services such as cross-border payments and trade finance. Tod Burwell, BAFT president […]

U.S. Commodity Futures Trading Commission declares Bitcoin as commodity

September 21st, 2015 by

The U.S. Commodity Futures Trading Commission (CFTC) has declared that Bitcoin and other virtual currencies are a commodity covered by the Commodity Exchange Act. The decision came after CFTC issued its first action against an unregistered bitcoin options trading platform Coinflip, ordering the startup to cease operations and simultaneously settling the case. Aitan Goelman, CFTC […]

Bitcoin Group to start trading on the Australian Securities Exchange

September 17th, 2015 by

Bitcoin Group announced it is expecting its shares to start trading on the Australian Securities Exchange on November 11. Andrew Plympton, chairman of Bitcoin Group said the company currently produces about 1.57 per cent of the world’s bitcoin, and operates bitcoin mining equipment at six sites in China and Iceland. Bitcoin Group is seeking to […]

The National Bank of Ukraine wants to implement Bitcoin’s technology into the financial system

September 16th, 2015 by

Ukraine’s Bitcoin Foundation (BFU) reported that the National Bank of Ukraine (NBU) is seriously looking into the possibilities of implementing Bitcoin’s technology into the financial system. Aleksandr Momot, BFU Board of Directors member said, “Right now, the National Bank is trying to come to terms with the existence of such a currency, which doesn’t have […]

California Bitcoin bill adds new requirements

September 16th, 2015 by

The latest version of the California Bitcoin bill AB-1326 includes a passage that would add new reporting requirements to licensed businesses beyond existing language that mandates annual and quarterly financial audits. “Each licensee shall file an annual report with the commissioner, on or before the 15th day of March, providing the relevant information that the […]

Barclays denies plans to accept bitcoin

September 16th, 2015 by

Barclays has denied it will accept Bitcoin later this year as reported in numerous publications. Numerous publications reported that Barclays would work with an un-named Bitcoin exchange and that, at first, only charities would be able to pay bitcoin into Barclays accounts. Cryptocoinsnews.com said they received an email from Barclays regarding the reports, and the […]

HashingSpace files registration for US FinCEN regulations

September 16th, 2015 by

HashingSpace Corporation announced that it has filed its Registration of Money Service Business (RMSB) form with the U.S. Financial Crimes Enforcement Network (FinCEN) Terry Taylor, chief financial officer of HashingSpace said, “we are pleased to announce the completion of this vital step towards full compliance with the federal regulations applying to our business.” Taylor also […]

Commonwealth Governments: There is a need for governments to start bitcoin regulation

September 16th, 2015 by

Commonwealth governments agreed that there is a need for governments to start bitcoin regulation in the Commonwealth’s Virtual Currencies Working Group conference held in London. The group garnered insights from the banking sector, academia, virtual currency operators, users and law enforcement agencies then urged governments to reconsider their lack of legislative oversight on the cryptocurrency […]

AXA eyeing bitcoin to help remittance market

September 16th, 2015 by

AXA is eyeing bitcoin to help streamline the remittance market, according to Axa’s general partner of its VC fund, Minh Q Tran. “We think that many use cases related to bitcoin have not already been explored. In particular we are very interested in how bitcoin, and more generally cryptocurrencies, might be used in the remittance […]