Compliance

Recognition by a market-based standards organization such as ISO, in the form of a three-letter code, would set the stage for increasing market depth and liquidity of bitcoin trading — in turn facilitating overall consumer and merchant adoption.

The German Finance Minister has ruled that Bitcoin is a “currency unit” and a form of “private money," and that the digital currency's users should pay sales tax as well as capital gains tax, Ars Technica reported on Aug. 18.

Payments processor Total System Services, or TSYS, has added a fraud mitigation program from Fair Isaac Corp., a data analysis and credit risk company commonly known as FICO.

Bitcoin users who help maintain the digital ecosystem's official record of transactions may soon find themselves required to register with the Financial Crimes Enforcement Network as administrators of the alternative currency.

A federal judge raised the possibility that banks will have to repay billions of dollars to merchants, but legal experts say the court lacks the authority to enact such an order.

Microsoft Corp. is joining Eurosmart, a Brussels, Belgium-based association that develops security standards for smart cards, terminals and other electronic applications.

A court ruling that debit card fee caps be lowered could also enable merchants to play card networks against one another.

With its latest proposal, the Payment Card Industry Security Standards Council aims to make card data security more straightforward for merchants and organizations accepting payments.

Mobile payments provider Square Inc. faces fines of $507,000 from Florida regulators for operating in the state without a money transmitter license.

The U.S. Federal Reserve was given a week to tell a federal judge its position on immediately rewriting regulations setting debit card swipe fees after a court found the current rule unlawful.