The fine for BTC-e was the Treasury’s first action against a money-services business located in a foreign country, and the second against a virtual currency exchange.
Up to now, the most successful fintech firms have tried to fill gaps in underserved market, not replace banks. But a new crop of U.K. startups seeking bank charters is turning up the heat.
Advancements aimed at speeding the flow of information by eliminating manual processing are helping the global custody bank attract new clients and win more business from existing ones, fueling revenue growth and improving efficiency.
It is only a matter of time before bankers and policymakers realize that the concept keeping banks and non-financial entities apart no longer has any underlying support.
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.
The Riverwoods, Ill., company is trying to assure Wall Street that its higher chargeoff rates signal a return to normalcy, rather than a cause for alarm.
The Blairsville, Ga., bank is in growth mode with strong second-quarter lending performances and two deals in the works, but its provision for loan losses was described as too low in one research note.
