When governments fail to come up with solutions, courts often have to step in to provide guidance. A petition seeking the government to act on Bitcoin has landed in India’s Supreme Court. The case is likely to come up for hearing in January 2018. Source: Bitcoin & co: India’s crypto-currency debate heads to the courts, […]
After Pakistan and some other countries, India decides it doesn’t like Bitcoin. …director of the Reserve Bank of India (RBI) has signalled that virtual currencies like bitcoin won’t be allowed in the country. “Our current position on bitcoins is that we will not be using it for any payments and settlements…though the technology underlying crypto-currencies […]
Episode 6 – Why Do Central Bank Hate Bitcoin Based Remittance If you are in the business of money transfer using bitcoin, you might want to give this a listen. It very briefly explains what central banks look for in remittances and why is it that they don’t like bitcoin based remittances.
Interesting development taking place for Philippines. Considered to be one of the safest countries to send money, now no more. Banks are severing their tie-ups with Philippines based banks – citing the risk that was associated with doing business in Philippines due to the recent central bank heist where US$ 81 Million was siphoned away […]
Philippines Banking System In Trouble If you’re wondering why suddenly MSBs in the US and UK are wary of Philippines, it is because of what happened in Bangladesh. The US$ 81 Million that was stolen in a cyber heist is being traced back to the Philippines banking system and investigators are uncovering more collusion with […]
The Federal Reserve System Anyone who is in Banking & Payments and is a bit of a history buff, would know essential flow of how our money is made. I use the word flaw deliberately, because that is what it is. Money today is created out of thin air. It has been for decades now. […]