Year: 2014

How Small Value Remittances can increase transactions in an economy.

Introduction This article discusses the ability to make small-value remittances, across border in a seamless manner, without incurring any high-costs that are typically associated with cross-border money transfers. These micro or small-value transactions can literally uplift economies. There are (in my opinion) Billions of Dollars worth of transactions, waiting to happen, if the framework for …

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What recourse do Bitcoin companies operating in the US have in light of the recent ruling by FinCEN?

  On October 27, 2014, the Financial Crimes Enforcement Network (FinCEN) released new guidance for custodial bitcoin exchanges and payment processors, ruling that such companies may be considered money services businesses under US law. The past couple of days have been very hectic. Besides fielding calls from lots of people, everyone is asking the same …

What recourse do Bitcoin companies operating in the US have in light of the recent ruling by FinCEN? Read More »

FinCEN’s new ruling puts Coinbase, Bitpay, Circle and others in deep trouble.

  The US Financial Crimes Enforcement Network (FINCEN) released its opinion on: Request for Administrative Ruling on the Application of FinCEN’s Regulations to a Virtual Currency Payment System yesterday (27th October 2014). The ruling which is an update to an earlier ruling of October 2013, in which only Bitcoin Exchanges were subject to the Money …

FinCEN’s new ruling puts Coinbase, Bitpay, Circle and others in deep trouble. Read More »

Murder on Chundrigar Road: How SBP killed the payments/fintech startup industry.

For those who don’t know, I.I. Chundrigar Road is the road on which the Central Bank of Pakistan, i.e. State Bank of Pakistan is located. Last week they released their Rules for Payment System Operators & Payment Service Providers, which essentially killed the Payments & Fintech startup industry of Pakistan. Murder on Chundrigar Road is …

Murder on Chundrigar Road: How SBP killed the payments/fintech startup industry. Read More »

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