Remove Bitcoin Remove Digital Currency Remove Office of the Comptroller of the Currency
article thumbnail

SoFi adds crypto services and blockchain-powered remittances

Finextra

From later this year, SoFi customers will be able to buy, sell, and hold a selection of crypto currencies like Bitcoin and Ethereum. In addition, SoFi will look to offer blockchain and digital asset infrastructure capabilities from its technology platform, Galileo , to other companies.

article thumbnail

SEC Chair: Flaws In Modern Payments Systems Are Boosting Bitcoin

PYMNTS

Securities and Exchange Commission (SEC) Chairman Jay Clayton thinks inefficiencies in traditional payments are boosting favorability for bitcoin, a report from Coindesk says. Clayton, speaking on CNBC, said bitcoin's popularity came from that disappointment in mainstream payments.

Bitcoin 105
article thumbnail

Beyond Bitcoin: Cryptocurrencies Flirt With Mainstream Commercial, Consumer Commerce

PYMNTS

Bit by bit — but more than bitcoin by bitcoin — cryptos are inching into the mainstream, for both consumer and commercial applications. Elsewhere, Square announce last month that it has invested $50 million — approximately 1 percent of its total second-quarter assets — to purchase roughly 4,709 bitcoins. “We

Bitcoin 83
article thumbnail

Bitcoin Daily: US Bank Regulator Says Licensing Crypto Firms As FIs ‘Makes Sense’; Korean Luxe Retailers Pay Rewards Via Blockchain

PYMNTS

Office of the Comptroller of the Currency (OCC) Chief Operating Officer Brian Brooks said he thinks digital currency firms could go under a federal licensing program in the event they offer what could be called payment services, CoinDesk reported. Meanwhile, MiL.k,

article thumbnail

Crypto 2020: One Step Up; Two Steps Back

PYMNTS

If one measures success for digital currencies in buzz — and in price appreciation for many of the marquee names — then 2020 stands out as a banner year. Here are some of cryptos’ key developments for 2020: Bitcoin Goes Higher And Higher. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies.

article thumbnail

Bitcoin Daily: OCC: US National Banks Can Hold Digital Assets; S. Korea Eyes 20 Pct Tax On Crypto Trading

PYMNTS

Banks chartered by the federal government can offer digital currency custody services, the Office of the Comptroller of the Currency (OCC) said in a Wednesday (July 22) announcement. In other news, South Korea intends to levy a two-tenths tax on income made via digital currency transactions, The Block reported.

OCC 63
article thumbnail

Bitcoin Daily: US National Banks To Hold Reserve Currencies For Stablecoins; Stripe To Pay Massachusetts $120K In PlexCoin ICO Role

PYMNTS

The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. Acting Comptroller of the Currency Brian P.