The United States’ Financial Crimes Enforcement Network has made two digital currency rules that clarify the bureau’s guidance from March of 2013.
The NYDFS concluded their two-day virtual currency hearing, which invited a host of digital currency advocates and skeptics to speak their piece.
Charlie Shrem, 24-year-old CEO of BitInstant, was arrested on charges of running an illegal money transmission business, willful failure to report suspicious transactions, and conspiracy of money laundering.
This news shouldn’t be entirely shocking to many of the country’s consumers, seeing as this is one of several major South Korean credit leaks in recent history.
In an effort to make payment transactions smoother between countries, the European Union had set a deadline for businesses to migrate their payment systems over to SEPA credit transfer (SCT) and SEPA direct debit systems, as opposed to the fractured, country by country system they currently rely on.
The Federal Financial Institutions Examination Council (FFIEC) has issued its final supervisory guidance regarding social media compliance and risk mitigation for financial institutions.
The Consumer Financial Protection Bureau has released a report detailing the costs that banks face in complying to regulation.
The judge overhearing the Genesco v. Visa PCI DSS trial has issued an order denying Genesco’s request for partial summary judgment, “without prejudice to renew after a reasonable period of discovery,” leaving a lot to be considered in their case.
Benjamin Lawsky, New York’s Superintendent of Financial Services, plans to hold a hearing to gauge the possibility of the NYDFS issuing so called “bitlicenses.”
Payment Week recently sat down with the PCI Security Standards Council’s GM Bob Russo and CTI Troy Leach to discuss the payment industry and the council’s newest version of data security standards, PCI DSS 3.0.
