President Obama Hosts a Question-and-Answer Session with Young Southeast Asian Leaders

Today, as part of the Young Southeast Asian Leaders Initiative, President Obama hosted a meeting with 75 emerging leaders from the Association of Southeast Asian Nations (ASEAN) at the White House. The Young Southeast Asian Leaders Initiative encourage…
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Former CEO of Depository Trust & Clearing Corporation Joins Ripple Labs as Advisor

Ripple Labs, the creators and developers of the Ripple network, have appointed Donald Donahue, former CEO of The Depository Trust & Clearing Corporation (DTCC), as an adviser. The new addition to the advisory board comes amid the digital currency startup’s efforts to push adoption of the Ripple payment network onto banks and financial institutions. DTCC is one of the largest clearing houses of securities and derivatives in the United States, processing $1.6 quadrillion worth of transactions last year. It is also one of the largest clearing houses in the world. “I’m very interested in the capabilities distributed payment technologies seem to offer for improving the safety, soundness and cost effectiveness of global payments and settlement infrastructures,” Donahue said in a […]

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Android Pay Unveiled at Google I/O Could Make Mobile Payments Ubiquitous

In February, Bitcoin Magazine reported Google’s preliminary announcement of Android Pay. Now, at the annual Google I/O event on May 28 and 29, Google officially announced its upcoming payment platform and revealed more details. Android Pay isn’t a separate payment app, but an open platform that enables developers to integrate mobile payments into their apps. In fact, Android Pay is built right into the core Android operating system. It will be available for download from Google Play soon, and included in the next version of the Android OS – dubbed Android M – expected to be released this fall. “[W]e’ve approached Android Pay the same way we approach every other part of the Android family – partnering with the ecosystem […]

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MIT’s Joi Ito Calls for a ‘Supporting’ Role for Governments as Community Awaits BitLicense Release

As the Bitcoin community awaits New York State’s BitLicense regulations, expected to be released today, the debate about regulating digital currencies is in full swing. Director of the Massachusetts Institute of Technology (MIT) Media Lab Joi Ito recently commented on the need to regulate in an AMA (Ask Me Anything) on Reddit saying: “If we want Bitcoin to be widely adopted by people around the world, we need to make governments comfortable so that they don’t overregulate. Otherwise, it will become a sort of underground thing that is useful for only those people savvy or intent enough to use it…” Recognizing the inevitability of some form of government regulation, Ito said, “I think the key is that the regulators shouldn’t […]

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ECUREX Becomes First Digital Currency Platform Fully Compliant with Swiss Banking Acts

ECUREX, a digital finance marketplace for professional traders and financial institutions headquartered in Zurich, announced that it has become the first digital currency exchange platform to be fully compliant with the Swiss Banking Act. ECUREX has also been the first digital currency exchange platform to be compliant with the Swiss Anti-Money Laundering (AML) Act since April 2014. Switzerland considers digital currencies such as bitcoin equivalent to any other foreign currency. This means that the professional operation of Bitcoin trading platforms constitutes financial intermediation with the requirement to comply with both the Banking Act and the AML Act. “Switzerland probably has the most challenging regulatory environment for such a business and we are thrilled to be the first with a business […]

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