Digital currencies

Digital money will have to coexist with cash and other forms of tender, according to a report by the Bank of International Settlements, the Federal Reserve and other institutions.

In July, the OCC issued a letter clarifying that federally chartered banks can store cryptocurrency assets for their clients. A recent global survey finds that many are wary of the risks.

The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings.

The company, which left New York in 2015 to avoid its regulations on virtual currencies, has found a more welcoming state.

All parts of the payments industry can preserve cash, but mandates may be necessary, says Moorwand's Luc Geuriane.

The global digital currency race has heightened the threat to traditional monetary policy and the dollar’s dominance, enough for the Federal Reserve of Boston to make a concerted effort to keep pace.

A CBDC has the potential to be a real game changer for the payment industry if one condition is met: central bank digital currency has to be built as an open and shared infrastructure for the private sector to easily build on top of it, says ConsenSys' Matthieu Saint Olive.

Responding to an unnamed bank that had sought the opinion, the regulatory agency issued an interpretive letter clarifying that an institution's custody services can be used for cryptographic keys and other digital currency-related assets.

The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.

Fully decentralized digital currencies have far greater protection against total mismanagement and corruption of capital. Blockchain technology makes it practical for even state-controlled blockchains to make inflationary measures fair, says Nash's Fabio Canesin.

Competition over virtual currency could alter politics and global power structures, potentially to the detriment of the U.S., the author of "The Currency Cold War" argues.

Visa’s proposed serialization of the digital dollar will further intensify the debate over privacy issues raised by central bank digital currencies, says Seccurency's Patrick Campos.

As the idea of central bank digital currencies starts to gain traction, the U.S. in particular needs to pay attention or risk losing a major aspect of its geopolitical power, according to JPMorgan Chase & Co.

FedAccounts would be government banking on a massive scale, says Intrepid Ventures' Eric Grover.

The U.S. Patent office published a Visa patent application to create a technology gateway that could allow central bank currencies for any nation to be digitized.

The former Treasury Department official would be the first CEO of the digital currency association, which is seeking payment licenses in the U.S. and Europe.

Treasury secretary says big firms that took PPP loans should apologize, not just return the money; German fintech’s shares drop 26% as audit fails to rebut accounting fraud allegations.

Lawmakers should approve a program to distribute stimulus funds using a government-sanctioned coin, which would be speedier than the current system.

By embracing this new payment market and its associated technologies now, convenience stores will attract more customers, improving their bottom line while also preparing for the future, writes DigitalMint's Marc Grens.

Lawmakers should approve a program to distribute stimulus funds using a government-sanctioned coin, which would be speedier than the current system.