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.

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

PYMNTS

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.

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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.

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

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

PYMNTS

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

PYMNTS

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: US Sanctions Two Russians For Alleged $16.8M+ Crypto Theft; Bahamas' Sand Dollar To Launch; Kraken Gets Go-Ahead For Wyoming Bank Charter

PYMNTS

On another note, digital currency exchange Kraken has received the go-ahead from the Wyoming Banking Board for a special purpose depository institution (SPDI) charter, Coindesk reported.

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

PYMNTS

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.

Avanti Plans Real-Time Settlement Solution For Corporate Treasurers

PYMNTS

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.

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.

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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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

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

PYMNTS

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.

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

Avanti got a bank charter. Here’s what's next on its agenda.

American Banker

Founder Caitlin Long says the blockchain bank plans to issue a virtual currency and help hedge funds and family offices trade digital assets now that it has a special-purpose banking charter in Wyoming. Blockchain Digital currencies Bitcoin Distributed ledger technology

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

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

Google Slapped With Antitrust Lawsuit Filed By Coalition Of 38 States

PYMNTS

A coalition of 38 state attorneys general filed an antitrust lawsuit against Google , accusing the search giant of engaging in anti-competitive practices, the Associated Press (AP) reported on Thursday (Dec. The federal lawsuit was filed in Washington, D.C.

Revolut Likely To Apply For US Bank Charter

PYMNTS

while cryptocurrency exchange Kraken Financial won a bank license in Wyoming last month, and state financial regulators have had a contentious debate with OCC regulators over a special charter for FinTech firms.

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.

Square Offers Beauty Sector Online Booking, POS Tool

PYMNTS

Square Appointments on Square Register is the perfect solution for our salon since we can now do everything all in one place whereas before we were having to use multiple devices,” said Teresa Kuhbacher, owner of Lil’ Tiffany’s Spa in Gillette, Wyoming.

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CFPB and Colorado Attorney General announce joint virtual office hours as part of AFCIN

CFPB Monitor

The CFPB and the Colorado AG’s Office have announced they will hold joint virtual office hours as part of the American Consumer Financial Innovation Network (ACFIN). The joint virtual office hours will be held on December 2, 2020. CFPB Director Kathleen L.

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.

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

PYMNTS

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.

World Central Bankers Discuss Alternatives To The Dollar

PYMNTS

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.

Amazon To Build More Whole Foods Locations

PYMNTS

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: 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.

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

PYMNTS

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. They could soon become a common sight where physical IDs are needed, 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. “It’s Driver’s licenses have not changed much over the past few decades.

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

PYMNTS

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.

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.

PSCU Study Shows Overall Spending Down Amid Coronavirus Pandemic

PYMNTS

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. As the coronavirus pandemic continues to disrupt personal finances, a study by credit union service organization (CUSO) PSCU shows that overall credit card spending is down 29 percent for the week ending April 5, compared to the same period in 2019. Debit card spending is down 12 percent for the same period.

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Western Union Enables In-App Donations For US Customers

PYMNTS

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 customers can now make a donation to the Western Union Foundation when transferring money using the Western Union app, the company said in a press release on Tuesday (Dec.