• visa spend crypto 70 million merchants
    Bitcoin,  Technology

    Visa CEO: We’ll let you spend crypto at 70 million merchants

    Al Kelly said Visa wants to be an intermediary between crypto holders and merchants—the role Satoshi Nakamoto sought to eliminate with Bitcoin

    “We’re trying to do two things,” Kelly said. “One is to enable the purchase of bitcoin on Visa credentials.” The second, he added, is “working with bitcoin wallets to allow the bitcoin to be translated into a fiat currency” that can be immediately “used at any of the 70 million places around the world where Visa is accepted.”

  • Brian Brooks leaves OCC
    Cryptocurrencies,  Regulation

    Crypto-friendly Brian Brooks steps down as bank overseer

    The former Coinbase executive’s rulings at the Office of the Comptroller of the Currency aided the cryptocurrency industry by allowing banks to custody and make payments with stablecoins

    During his eight months at the head of the Office of the Comptroller of the Currency, Brooks, a former general counsel at Coinbase, enacted a number of reforms that helped push the cryptocurrency industry farther into the banking industry’s mainstream, most recently authorizing banks to use stablecoins to make payments and for other transactions on behalf of customers.

  • OCC banks can use stablecoins
    Regulation

    In a ‘huge’ win, regulator says banks can make payments with stablecoins

    Circle’s Jeremy Allaire said the ruling by the Office of the Comptroller of the Currency ‘helps put the U.S. in a leadership position in embracing the power of public blockchains’

    Allaire said Acting Comptroller of the Currency Brian Brooks’ latest move is “a HUGE way to start 2021, the year that crypto and stablecoins go mass market!” He added, "the significance of this can’t be understated.”

  • NYDFS approves yen stablecoin
    Alt coins,  Regulation

    In U.S. first, New York regulators approve yen-backed stablecoin

    With the New York Department of Financial Services’ approval, Japanese IT giant GMO Internet Group will also issue a dollar-backed stablecoin

    The company has been granted a New York State charter to operate as a limited liability trust company by the Department of Financial Services, according to Linda Lacewell, the Superintendent of Financial Services.