News Topic: Cryptocurrencies

Bank of America has joined the likes of Walmart and Mastercard in seeking patents for blockchain technology that could be used for a digital currency or mobile wallet. ... Read full article

The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies. ... Read full article

Anticipating recession, banks start scrubbing loan books; how Trump's political appointees thwarted tougher settlements with two big banks; the Fed's plans on its real-time payment service; and more from this week's most-read stories. ... Read full article

There are subtle differences in Walmart's virtual currency project compared to Facebook's Libra, but these may be enough to avoid the regulatory firing squad that Facebook has endured. ... Read full article

Ambiguity about which laws apply to blockchain technology has prevented certain companies from doing business in the United States. ... Read full article

Walmart has filed a patent application for a digital currency that, like Facebook's Libra, would be a stablecoin backed by traditional currencies. And it envisions a very specific use case where its coin could stand in for cash — or even for a bank ... Read full article

The former state banking superintendent weighs in on some of the toughest questions bank regulators are grappling with and the lawsuit (still ongoing) that she filed against the OCC. ... Read full article

Citigroup's made some strides after the battering its share price took last year, but it still trails JPMorgan Chase and Bank of America; chiefs at the top U.S. global banks own on average more than 15 times the amount of their own firm's stock ... Read full article

The social media giant says its cryptocurrency project can bring services to the world's unbanked. Lawmakers and regulators aren’t so sure. ... Read full article

Visa’s decision on how or if it will participate in Facebook’s Libra will be based on how the social network handles the mountain of criticism and requirements that global regulators and lawmakers are heaping upon it. ... Read full article

Lawmakers from both parties strongly criticized Libra this week, but largely steered clear of proposals to stop it. ... Read full article

It's created a new digital assets and distributed ledger group, trades bitcoin futures and is funding a crypto exchange. ... Read full article

Resistance to Libra on the Senate Banking Committee was bipartisan, and other takeaways from Tuesday’s hearing. ... Read full article

The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor. ... Read full article

The U.S. lacks mechanisms authorized in other countries to flag nonbank risks, Eric Rosengren says. ... Read full article

The Treasury secretary said the U.S. government has significant concerns about digital currencies, including their potential as tools for money launderers. ... Read full article

Investors eye how low rates, flat yield curve will affect bank profits; agency is determining if it has oversight power over Facebook’s planned cryptocurrency. ... Read full article

Almost two years after the Equifax breach led to a congressional uproar but minimal policy change, the protracted fight to enact data security and privacy reform has a new bogeyman. ... Read full article