Digital currencies

A task force convened by the Federal Reserve released its evaluations last week of 16 proposals to build a faster U.S. payment system. What follows is a brief look at some of the plans that received high marks.

Companies planning to raise money by selling electronic tokens for cryptocurrencies said they won't be put off by SEC warning of regulation; soaring costs trigger exodus from traditional coastal financial hubs.

A task force convened by the Federal Reserve released its evaluations last week of 16 proposals to build a faster U.S. payment system. What follows is a brief look at some of the plans that received high marks.

Citigroup hopes to return $60 billion to shareholders by 2020 while earning $20 billion a year; SEC says companies that raise money by selling their own electronic tokens for cryptocurrencies may be subject to federal oversight.

Hub brand requirements are modest compared with retail systems. They communicate reputation and trust to a relatively small set of sophisticated firms they hope to serve.

The move will explore the risks and opportunities of the new technology, and the group membership allocation across agencies and stakeholder groups seems to be a reasonable way to include a range of opinions, writes Rob Viglione, co-founder of ZenCash.

Large outdoor events were among the earliest proving grounds for mobile point of sale technology. Will this environment be as welcoming of digital currency?

Removing restrictions on companies such as Comcast, AT&T and Verizon could have clear repercussions for the payments industry.

The OCC says banks face growing “strategic risks” from trying to compete and team up with fintech startups; U.K. investor group wants banks to provide more nonfinancial information about their conduct and culture.

Transaction laundering is gaining steam, and since it uses familiar payment technology, it can be easier to use than virtual currency, writes Ron Teicher of EverCompliant.