Bitcoin

Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread.

Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread.

Cryptocurrency venture Bitfury raised $80 million from investors including the merchant bank founded by billionaire ex-Goldman Sachs Group Inc. partner Mike Novogratz.

Merchants and intermediaries who plan to accept crypto payments should ensure that they have compliance programs and policies in place to ensure that they can appropriately diligence the use of cryptos so that their involvement with these new products does not enhance their liability risks, write Evan Koster and Marc Gottridge, partners at Hogan Lovells.

The approval marks the New York’s bank regulator 12th license to a crypto-related business.

The credit card company's filings mirror patents Bank of America, Barclays and TD Bank have submitted in the past two years that focus on how funds transfers and data security would augment blockchain technology.

Regional lenders would be subject to less regulation while the biggest banks would see no change; the insurance giant got hit with claims from several large natural catastrophes.

While volatility is back in global financial markets, only about one in four Bitcoins that weren’t freshly mined moved between the anonymous online addresses holding them in the last six months.

If bitcoin were to become a true global transactional currency, the electricity needed to mine it alone would generate enough carbon dioxide to push the planet beyond 2 degrees Celsius of warming within a quarter-century.

The bank, one of the few that do business with digital currency exchanges like Coinbase, has developed methods for monitoring all customers’ digital currency purchases.