article thumbnail

PayPal’s Bitcoin Backing Proves Crypto Is Ready For Prime Time (And Grandma)

PYMNTS

When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency. Bitcoin is like a [crypto] 101 version. Wanted: Big Backers And Government Support.

Bitcoin 117
article thumbnail

Bitcoin Daily: French Tobacco Shops Have Bitcoin For Sale; China Mobile Creates Blockchain Water Purifier

PYMNTS

The company seeks to fill a void in a market, where nonprofits may lack the knowledge or technology to take in cryptocurrency donations. Some tobacco shops in France are beginning to sell bitcoin, in addition to items like cigarettes, lottery tickets and cigars, Reuters reported.

Bitcoin 58
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Libra Head Calls Bitcoin Volatile

PYMNTS

The head of Facebook’s Libra project said he doesn’t consider bitcoin to be a currency because it’s simply too volatile. “I I don’t think of bitcoin as a currency. In fact, Marcus said that one of the main reasons bitcoin hasn’t been fully regulated is because it is not a currency. I see it as digital gold.”.

Bitcoin 40
article thumbnail

Bitcoin Daily: Bank Of Japan Pushes Back On Cryptocurrencies; Venezuela President Demands Consumer Access To Petro Crypto

PYMNTS

It’s out of the question to allow them to develop in a regulatory void for their financial service activities, because it’s just too dangerous,” Coeure said, according to Bloomberg. “We Bitcoin has dipped below $11,400, causing most of the top 20 cryptos to trade sideways. Bitcoin is currently down by 0.10

Bitcoin 49
article thumbnail

Bitcoin Daily: Telegram Refutes Claims That Its Crypto Is A Security; HSBC Leads Trial To Explore DLT Benefits In Bond Markets

PYMNTS

The company’s legal team tried to persuade the district court of the Southern District of New York that the SEC’s case was void because the legal definition of an “investment contract” is unclear. Not surprisingly, the SEC opposed that argument.

article thumbnail

Blockchain, Ready For Bank Supervision?

PYMNTS

The paper notes that in order to realize the value of blockchain, one must look beyond cryptos such as bitcoin and its brethren and look toward permission versions of blockchain, which allow for the trading of asset-backed tokens. They would lose a set amount of capital if the blockchain was reversed or if transactions were voided.

article thumbnail

From Open Banking to Open Finance to DeFi: The Open Evolution of Finance

Finextra

Governance and Regulation: When open banking emerged, it didn’t do so in a regulatory void – quite the opposite. And how are incumbent institutions responding, possibly by integrating these innovations? It was largely born from regulation (e.g.,

Finance 52