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Bitcoin Daily: German Crypto Firm Shuttered After Pyramid Scheme Accusations; People’s Bank Of China Denies Bogus Announcement Of Stablecoin Launch

PYMNTS

This is a new community, a new world, this is going to be very big. But in May, authorities in Namibia called Karatbar a pyramid scheme, while last month, Florida’s financial regulator denied that the company had been issued a banking license. Seiz claims to have raised about $100 million through the sale of his KaratGold Coin (KBC).

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The Case For Localizing Mom-And-Pop Investment

PYMNTS

Exploring the importance of the small business through the lens of its immediate community is a critical component of promoting education among entrepreneurs. According to Mathews, MainVest aims to encourage local investors to invest in businesses of their own community. This is beneficial in more ways than one, he noted.

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CFPB’s Taskforce on Federal Consumer Financial Law releases report

CFPB Monitor

The Taskforce was charged with examining the existing legal and regulatory environment for consumers and financial services providers and making recommendations to the Bureau’s leadership for improving consumer financial laws and regulations. The report consists of two volumes.

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One-Size-Fits-All Is Wrong Approach to Banking, New ABA Chairman Says

American Banker

Dorothy Savarese, the head of Cape Cod Five Cents Savings Bank in Massachusetts, seeks a financial system where the rules encourage community banks and big banks to do the things that they are best at.

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ATMIA Weighs In On Cashless Retail Ban Debate

PYMNTS

Council member and bill sponsor Ritchie Torres has said the ban is a way to make sure lower income communities, and those of color, are not shut out of marketplaces. As Tente noted, the state of Massachusetts already has a ban on cashless businesses, and the law has been on the books since the late 1970s.

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Ripple Effects: Mobile Payments Are Just The Beginning

PYMNTS

One where grocery stores, restaurants and eCommerce can deliver anything and everything to your home almost instantly by drone, payments are automatic, doctors do house calls, people communicate by FaceTime and most of the labor force works remotely. These robots are the creation of Symbotic LLC, which is owned by billionaire Rick Cohen.

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Guest Post: Third Quarter Economic Update by Dorothy Jaworski

Jeff For Banks

It seems to me that reducing burdensome regulations and not implementing harsher capital requirements would be more effective alternatives to incentivize lending than pushing all yields toward zero while buying up all of our bonds. Maybe it is nationally, but Bucks County (PA) has yet to participate. in July and CoreLogic, +4.6%