FINTECH ARTICLES OF THE WEEK 3/27/2017 It was just a matter of time before the notion that customers own their data and not banks became a point of contention and lobbying in the United States, especially after the Consumer Financial Protection Bureau said as much last fall. European banks soon will offer "open banking," where customers can specify who has access to their … [Read more...] about Data Wars
Illinois Legislators Prepare for Blockchain Support
Illinois Legislators to Vote on Blockchain Support The State of Illinois continues to move forward on its support and study of blockchain and distributed-ledger technologies, reported John Mirkovic, Deputy Recorder - Communications, Cook County Recorder of Deeds last night at a Chicago FinTank Blockchain event. The Illinois House is preparing to vote on a blockchain bill, part … [Read more...] about Illinois Legislators Prepare for Blockchain Support
BLOCKCHAIN WATCH 3/20/17
China bitcoin rules would require exchanges to verify clients’ identity In the continuing saga of China's complex relationship with bitcoin, the People’s Bank of China opened up investigations in January at the country's three largest bitcoin exchanges, Huobi, OkCoin and BTCC, and delivered a stern warning last month that bitcoin platforms risk being shut down if they evade … [Read more...] about BLOCKCHAIN WATCH 3/20/17
Regulatory Trumps
FINTECH ARTICLES OF THE WEEK 3/20/2017 The U.S. Office of the Comptroller of the Currency made its next move to create federal charters for FinTech firms, with publication last week of a draft licensing manual for applicants. "Consistent with previous OCC statements and papers, the manual makes clear that the special-purpose charters will be subject to all applicable banking … [Read more...] about Regulatory Trumps
BLOCKCHAIN WATCH 3/13/17
Blockchain “the second generation of the internet” During a Lendit USA event, Northwest Passage Ventures CEO Alex Tapscott said he was impressed that “the second generation of the internet,” adding that consumers would recreate the banking industry if they could. “The Internet of Things will be a key enabler for the proliferation of blockchain and perhaps could be a keystone … [Read more...] about BLOCKCHAIN WATCH 3/13/17
Bitcoin Blues
FINTECH ARTICLES OF THE WEEK 3/13/2017 One of my favorite Miles Davis electric pieces is a sharp number called "Red China Blues." This week the FinTech tune became the bitcoin blues, following news last Friday that bitcoin cannot be traded as a stock through an exchange-traded fund set up by the Winklevoss twins. Bitcoin prices fell more than 15%. The U.S. Securities & … [Read more...] about Bitcoin Blues