Crypto exchange Kraken receives Wyoming bank charter

American Banker

The company, which left New York in 2015 to avoid its regulations on virtual currencies, has found a more welcoming state. Fintech Digital currencies Blockchain Bitcoin

Wyoming Lures Crypto Companies With Friendly Laws

PYMNTS

Wyoming is trying to position itself as a leader in cryptocurrency and one of the friendliest states when it comes to legislation around crypto companies. That prompted crypto and blockchain companies to register in the state, reported Bloomberg, “This is one of the most exciting things that I have seen in a decade as far as the possibilities,” said David Pope, an accountant and executive director of the Wyoming Blockchain Coalition, in an interview with Bloomberg.

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Bitcoin Daily: Ant Financial Starts Pilot For SMB Blockchain Network; Wyoming Announces Regulations For Crypto Custodians

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In other news, the state of Wyoming has released several new custody rules focused on its special purpose depository institutions (SPDIs) (also known as “blockchain banks”). Tweets posted by Wyoming Blockchain Task Force President Caitlin Long said that the rules include what are reportedly the first-ever regulations for digital asset custodians in areas including forks, airdrops, staking, customer notice requirements and more.

Wyoming creates fintech sandbox

CFPB Monitor

Earlier this year, Wyoming became the second state to create a financial technology (fintech) sandbox by enacting the “ Financial Technology Sandbox Act ” (Sandbox Act). The provisions requiring Wyoming’s Banking Commissioner and Secretary of State to adopt implementing regulations became effective on February 19, 2019. Thus, unlike Arizona’s sandbox, a person receiving a waiver under the Sandbox Act can be exempted from Wyoming’s civil usury laws.

Bitcoin Daily: FDA Pegs Walmart, IBM For Blockchain Pilot; Wyoming State Embraces Blockchain

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In other news, Wyoming — America’s least-populous state — has turned its focus on blockchain, attracting a slew of new businesses as a result. The ethos of blockchain and the ethos of Wyoming are very similar,” said Caitlin Long, co-founder of the Wyoming Blockchain Coalition, according to Wired. The results of the new regulations have brought dozens of limited liability blockchain and crypto corporations to Wyoming. “I’ve

Bitcoin Daily: BoE Advisor Says Cryptos Fail ‘Basic’ Tests; Wyoming Lawmakers Float Crypto Custody Bill

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In other news, legislators in Wyoming have unveiled a bill that would put forward “an opt-in framework for banks to provide custodial services for digital asset property as directed custodians,” Coindesk reported. Wyoming Blockchain Coalition Co-founder Caitlin Long said, according to the report, ”anything can happen in a legislative process, it’s not done till the governor signs the bill, but it has a lot of momentum behind it and a lot of support.”.

Bitcoin Daily: Binance Rolls Out Decentralized Exchange; Wyoming Legislators Pass Multiple Crypto Bills

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On another note, legislators in Wyoming recently passed multiple bills related to digital currency, Coindesk reported. Digital currency exchange Binance , which has approximately $1 billion in trading volumes each day, rolled out a decentralized trading service (dex), according to reports. With the concept of a dex, users can trade using their wallets instead of transferring their digital currency into a crypto exchange.

Another state creates tech sandbox as federal agencies tread warily

Payments Source

Fintech regulations CFPB OCC Utah Arizona WyomingUtah this week became the third state to let companies test cutting-edge financial products without fear of violating licensing and other regulations.

Avanti Plans Real-Time Settlement Solution For Corporate Treasurers

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Avanti Financial Group said in a press release that it has received permission from the Wyoming Division of Banking to begin operating in the state as a bank as early as October and plans to offer a real-time settlement solution for corporate treasurers. Wyoming allowed the chartering of special services depository institutions (SPDIs) in 2019 and began accepting applications for them in October 2019. Avanti made its Wyoming intentions clear in February.

Credit union to buy Colorado branches from Liberty Savings

American Banker

Blue Federal Credit Union in Wyoming will also gain about $100 million in deposits. Community banking Credit unions M&A Branch deals Colorado Ohio Wyoming

Utah Becomes the Third State to Establish a Fintech Sandbox

CCG Insights

Utah has joined Arizona and Wyoming in establishing a fintech sandbox, a tool for financial innovators to create new products while being partially shielded from regulatory issues. Banker in the Know CCG Catalyst Arizona Compliance fintech regtech Regulations sandbox Utah WyomingArizona led the. The post Utah Becomes the Third State to Establish a Fintech Sandbox appeared first on CCG Catalyst Consulting Group.

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First Republic adding half-dozen branches in Manhattan

American Banker

The San Francisco bank is also bulking up in Florida and Wyoming, no-tax states where many of its affluent clients have retired or have second homes. Branch management Earnings High net worth New York Florida Wyoming

Five at Five: A New AI and FinTech Investment Push

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Wyoming Lures Crypto Companies With Friendly Laws. News AI Asia Blockchain cryptocurrency FinTech Five at Five india QR codes Rocket Internet trucking industry WhatsApp WyomingRocket Internet Eyes AI, FinTech Investments. Citing comments that Rocket Internet made after reporting earnings Tuesday (May 29), Reuters reported that CEO Oliver Samwer wants to invest in the tech sector, but didn’t offer a time frame as to when the company will deploy its cash.

First State Bank Nebraska Offers Multi-State Rewards Checking Account

BankDeals

First State Bank Nebraska offers its First Rate Checking with competitive rates to residents of Colorado, Iowa, Kansas, Missouri, Nebraska, South Dakota, and Wyoming

Bitcoin Daily: Binance Sells Its Users’ Altcoins, Bitcoin Dives As Cryptos Caught In SEC Crosshairs

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And Wyoming recently passed a law that would make some digital coins exempt from regulation, TechCrunch reported. Bitcoin Altcoins bitcoin Blockchain CFTC Commodity cryptocurrency litecoin Money Tap News regulation SEC What's Hot WyomingBitcoin’s price staggered on Wednesday (March 7), Reuters reported.

Wells Fargo’s unknowns, to cost-cut or not, Kraken’s bank charter: Top stories of the week

American Banker

Wells Fargo provides few updates on growth; why some banks are aggressively cutting costs and others aren’t; crypto exchange Kraken receives Wyoming bank charter; and more from this week’s most-read stories

1.14.19 Your morning briefing

Payments Source

Today: German court rules against Amazon Dash; Georgetown professor says shutdown's hurting fintech; Sandbox advances in Wyoming; Yapstone hires former Amazon Pay executive. The information you need to start your day, from PaymentsSource and around the Web. Briefing

2.21.19 Your morning briefing

Payments Source

firms; Wyoming pushes crypto laws; Citymapper adds prepaid card; Paytm hires former Amazon exec; Bluefin gets PCI certification. The information you need to start your day, from PaymentsSource and around the Web. Today: Dutch central bank's processing PSD2 licenses for U.K. Briefing

Coinbase Offers Bitcoin Cash Loans Of Up To $20K In 17 US States

PYMNTS

Initially, the loans are available in the following states via the waitlist: Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming.

PPP Funding Out But Not Necessarily Over; Lenders Preparing

Abrigo

Abrigo customer Western States Bank in Laramie, Wyoming, which has already received SBA approval for 318 loans totaling $26.7 Key Takeaways Funding for the Paycheck Protection Program is depleted, but support for more money is strong and lenders want to be ready for another round.

Straightforward Principles of Success

Independent Banker

Mark Zaback, Jonah Bank of Wyoming. Mark Zaback , Jonah Bank of Wyoming. The importance of following your words with deeds, the only path that leads to results, is one of the principles that guide Zaback’s decisions and those of everyone involved with Jonah Bank of Wyoming. He has long been recognized for his wide-ranging work on behalf of everyday citizens, small businesses and the banking industry throughout Wyoming.

PSCU Study Shows Overall Spending Down Amid Coronavirus Pandemic

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In the eight states with no shelter-at-home orders – North Dakota, South Dakota, Nebraska, Iowa, Arkansas, Oklahoma, Wyoming and Utah – spending was still down, but by less.

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Digital Driver’s Licenses Are Put To The (Pilot) Test

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States like Colorado, Delaware, Idaho, Maryland and Wyoming, and even the District of Columbia, have already piloted the use of digital driver’s licenses in recent years. Driver’s licenses have not changed much over the past few decades.

World Central Bankers Discuss Alternatives To The Dollar

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The Jackson Hole, Wyoming, conference was comprised of current and former central bankers, including Bank of England Governor Mark Carney , who has challenged the dollar’s position as the world’s reserve currency. The 2019 Kansas City Federal Reserve’s annual symposium gathered the top monetary policymakers worldwide to kick around ideas to topple the dollar’s power, Bloomberg reported Sunday (Aug.

GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

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Closer to home, in Wyoming, a bill has debuted in the state legislature to create a FinTech sandbox. According to the reports, Medici Land Governance , a blockchain subsidiary of online retailer Overstock.com , has signed a Memorandum of Understanding (MOU) with Teton County, Wyoming to develop a blockchain-based land records and information platform this year. Late last week, the U.S.

Western Union Enables In-App Donations For US Customers

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We are grateful to have a partner that shares our mission of connecting loved ones,” said Gino Greco, Red Cross regional CEO for Colorado and Wyoming. “We

Bitcoin Daily: CoinZoom Crypto Exchange Debuts Visa Debit Card; Wave Financial To Offer Kentucky Bourbon Tokens As Investment

PYMNTS

” And, Avanti Financial Group, which is said to be the first company to publicize its application to be a Wyoming special purpose depository institution (SPDI), is bringing five new executive hires on board who will also serve as co-founders, CoinDesk reported. CoinZoom has officially rolled out an exchange and a CoinZoom Visa card, according to an announcement. Customers will have the ability to purchase, sell and spend digital currencies on the exchange with the rollout.

Amazon To Build More Whole Foods Locations

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One person familiar with the plans told the Wall Street Journal that in the Rocky Mountain region Whole Foods employees have visited retail spaces in Idaho, the southern part of Utah and Wyoming, areas where Whole Foods doesn’t have a presence. Amazon is reportedly gearing up to expand the number of Whole Foods stores around the country to enable more customers to use its speedy delivery service, reported the Wall Street Journal.

Bitcoin Daily: Public Blockchain Cardano Developing Chip That Creates Cash-Like Crypto; Brazil Probes Banks Turning Away Crypto Firms; Albania Proposal To Regulate All Crypto

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Charles Hoskinson, founder of IOHK , which makes Cardano, said in a recent Cointelgraph interview that the crypto-native chip is being created at the IOHK lab at the University of Wyoming. With new microchip tech by Cardano , cryptocurrency users would be able to access payment services without an internet connection.

CFPB and Utah AG announce joint office hours in Salt Lake City as part of ACFIN

CFPB Monitor

Last June, Utah became the third state to create a regulatory sandbox program for fintechs, after Arizona, which enacted sandbox legislation in March 2018, and Wyoming, which enacted sandbox legislation in February 2019.

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ICBA Community Bankers of the Year

Independent Banker

Jonah Bank of Wyoming, Casper, Wyo. ICBA inaugurated its Community Banker of the Year award program this year to recognize the exceptional work of the individual employees of ICBA member community banks. The association accepted nominations online throughout the month of September, allowing anyone to recommend a community banker for consideration. Judging Criteria.

Fed Looks To Small Banks To Bail Out SMBs

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ANB Bank has billions of dollars in assets in Colorado, Wyoming and Kansas City, and chief executive Koger Propst said he’d already instructed workers to issue deferrals on loans for commercial, home and car properties for 3,700 customers. The Federal Reserve is looking toward a time-worn source to help with bailing out many smaller businesses and individuals as they enlist smaller regional and local banks for the job.

2014 ICBA Community Banker of the Year Awards Video

Independent Banker

President and CEO of Jonah Bank of Wyoming, Casper, Wyo. The 2014 ICBA Community Banker of the Year Awards are sponsored by D+H. link]. Community bankers rarely work alone but instead are members of dynamic teams of entrepreneurs and visionaries. ICBA received more than 400 total nomination entries for the Community Banker of the Year Awards from co-workers, community members, directors and retirees. National Award Recipient. Shirley Nelson.

More Than 200 Bankers Let Go At Wells Fargo

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With that in mind, it is currently hiring agricultural bankers in markets like California, Wyoming and Idaho. Sources have revealed that Wells Fargo has laid off more than 200 bankers in its U.S. lending division in recent months, with a focus on its agriculture and energy teams, Reuters reported.

Who Should Lead The Digital ID Push?

PYMNTS

States like Colorado, Delaware, Idaho, Maryland, Wyoming and even the District of Columbia are currently testing or have already piloted the use of digital drivers’ licenses. According to Renee Krawiec, driver services senior supervisor at the Wyoming Department of Motor Vehicles (DMV), and Sarah Werner, communications manager at the Colorado DMV, the general public definitely has interest in digital drivers’ licenses , but challenges did emerge in the pilot phases.