CHINA’S CRACKDOWN ON CRYPTO
October 11, 2021
China has recently taken a strong stance against the cryptocurrency industry. The recent crackdown on cryptocurrencies will likely continue to intensify over the coming months and may lead to bans on holding tokens for Chinese citizens. Residents of China have long understood it is generally a losing game to be on the wrong side of policy emanating out of Beijing, and currently, it appears China is intent on cracking down on crypto.
ARTIFICIAL INTELLIGENCE TRENDS ACCELERATE IN BANKS
October 2, 2021
Stable coins have gained popularity recently as both a medium of exchange and stored value.
Fiat-backed stable coins or stable coins backed by a basket of liquid assets are proving to be less volatile than cryptocurrencies that lack financial backing such as Bitcoin.
STABLE COIN REGULATIONS ON THE RISE
September 29, 2021
Stable coins have gained popularity recently as both a medium of exchange and stored value.
Fiat-backed stable coins or stable coins backed by a basket of liquid assets are proving to be less volatile than cryptocurrencies that lack financial backing such as Bitcoin.
BINANCE EXCHANGE WOES
September 25, 2021
The popular third-party crypto exchange platform Binance has had to play a lot of defense lately battling regulators across the globe. Some also speculate Binance’s battles may additionally include internal clashes amongst the senior management team.
WILL DIGITAL ONLY BANKING CONTINUE TO ACCELERATE?
September 14, 2021
We are living in an era where digitalization is taking place in every industry sector. With respect to banks, some are rapidly adapting to the digital age, while a few financial institutions are progressing at a slower pace. There are even a few bank holding companies exploring the possibilities of developing a digital-only bank under their corporate umbrella as part of an existing bank or new bank altogether.
ACH INNOVATION
September 9, 2021
The Automatic Clearing House (ACH) is a computerized payment processing network that securely transfers funds between bank accounts using bank routing numbers.
EL SALVADOR AND BITCOIN
September 6, 2021
El Salvador’s president Nayib Bukele recently made history in adopting Bitcoin as a national currency. Bukele took a major step towards legalizing Bitcoin in El Salvador with the new law governing its use effective September 7, 2021.
ESG and Sustainable Lending
June 14, 2021
Environmental and social governance (ESG) is here to stay as a permanent fixture in many public and private business plans. Additionally, sustainable lending is now a growing component of ESG practices and business strategies. To ignore ESG in the business planning process is considered short-sighted as ESG criteria are now firmly embedded as a component of focus with numerous institutional investors and are playing an increasing role in corporate finance and lending.
The Value of Regulations For Blockchain and Crypto
May 31, 2021
The launch of Bitcoin open-source software in 2009 set blockchain and cryptocurrencies on an emerging path to be an integral part of the financial ecosystem. However, to fully incorporate into the mainstream financial system, blockchain and crypto may need to collaborate and adhere to guidance issued by some of the government regulators and traditional financial processes it was possibly keen to disrupt.
The Rise of Mobile Wallets
May 13, 2021
Mobile wallets, also known as virtual wallets, are on the rise. A mobile wallet is a virtual wallet capable of storing payment information including credit cards, debit cards, airplane tickets, and loyalty cards all on a mobile device such as an iPhone. Mobile wallet adoption has been driven in part by consumers enjoying the ability to make in-store purchases without the need to carry cash or credit cards and spend less time during the checkout process.
CREDIT UNIONS BUYING BANKS
APRIL 13, 2021
The idea of credit unions acquiring banks has advocates for the banking industry questioning whether the credit union tax exemption is justified, as many larger credit unions have drifted away from their mission. In fact, many feel it is time for the larger more aggressive credit unions to return to the mission of credit unions as originally contemplated by Congress or lose their tax-exempt status.
BANK 2021 M & A OUTLOOK
APRIL 13, 2021
Post-pandemic effects took a toll on merger and acquisitions in the banking industry throughout most of 2020 with many discussions put on hold. Management was initially concerned about potential credit quality issues, which gave way to dealing with loan modifications and deferrals, then the time demanding onslaught of funding PPP loans arrived further pushing off any potential M & A discussions.
Cannabis Banking Issues and The Safe Act
APRIL 7, 2021
The SAFE Banking Act is making rounds once again as a larger segment of U.S. citizens anticipates its potential implementation shortly. Ever since the provisions of the SAFE Banking Act were included in the COVID-19 relief bill passed in the U.S. House of Representatives under the HEROES Act, many are still wondering if the Act comes to fruition in 2021.
Libra Rebranded
APRIL 5, 2021
The Libra association in its anticipation of a 2021 launch has decided to rebrand itself and distance the initial blow back press it received. Libra will be now known or branded as Diem. The 27 member firms comprising the association decided before its launch that they might be better served to rebrand as “Diem” which is the Latin word for “day.”
Bitcoin Continues to Climb
APRIL 4, 2021
Bitcoin blew through another landmark a few days ago, soaring through the $50,000 price point for the first time. Investors worldwide continue to be captivated by the blistering upward price surge in the world’s largest cryptocurrency.
Bank Regulators Struggle with Different FinTech Viewpoints
APRIL 4, 2021
The continuing rise of innovative technologies entering the world of finance has posed regulatory concern and difficulties for domestic state and federal legislators, as well as regulatory agencies.
Crypto “Know Your Customer” Hurdles Maybe Increasing
APRIL 4, 2021
In late December 2020 the U.S. Treasury Department issued a rule making proposal introducing key Know Your Customer (“KYC”) regulations that will affect certain crypto users.
Libor as a Benchmark to Disappear
APRIL 4, 2021
The world’s most highly accepted benchmark reference rate is set to sunset publication as a global reference rate on December 31, 2021.
RegTech on the Rise
APRIL 4, 2021
Regulatory Technology also known as “RegTech” is the use of cutting-edge technology to help companies address their regulatory compliance more efficiently. RegTech is maturing quickly but is still in its formative years.
The JPM Coin
APRIL 4, 2021
The financial world’s eyes were all fixed on Wall Street Banker J.P. Morgan when it announced its’ plans to launch the JPM coin in February 2019. The JPM coin is a blockchain-powered digital currency designed to facilitate lightning fast payments, initially for commercial clients of J.P. Morgan on a B to B basis.
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Commercial Real Estate and the Pandemic
February 8, 2021
The onset of COVID-19 has left many businesses in the U.S. tallying up losses and wondering what a recovery may look like. Not only has the pandemic exacted a significant human toll, it has also indiscriminately wreaked economic damage upon...
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PPP Round One Forgiveness for Small Business
February 8, 2021
The term PPP has become a well-known acronym tied to the ongoing effort to save or shore up small business concerns in the U.S. The economic tail of the COVID -19 has been severe, and the PPP or Payment Protection...
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Ripple and the SEC Debate over Currency Vs. Security
February 8, 2021
The Securities and Exchange Commission (“SEC”) and Ripple have dominated crypto related news since the SEC filed a lawsuit against Ripple Labs Inc. and two of its high-profile executives late last year. At the heart of the lawsuit is the...
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The Pandemic and Cybersecurity
february 8, 2021
It is undeniable that COVID-19 is one of the notable crises in human welfare in recent history. The pandemic will likely go down as the most severe public health disaster in a century. The COVID-19 pandemic has both tested our will...
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The Evolution of Money and Digital Dollars
February 8, 2021
The concept of money has changed throughout history and is now evolving toward the use of digital currencies. As we know from our history lessons early trade was facilitated not by money as we know it today, but rather by barter. The...
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Consumer Debt Shrinks During the Pandemic
February 8, 2021
While the pandemic has ravaged parts of our economic fabric and taken a tragic health toll in the U.S., it is interesting to note that recent studies revealed a significant decrease in consumer debt during this health crisis. Recently appearing...
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HOW TO CHOOSE A CRYPTOCURRENCY EXCHANGE
SEPTEMBER 22, 2020
It appears cryptocurrencies are here to stay. Just look at the insane growth of Bitcoin from its initial launch of less than one cent a little over a decade ago to its mid-September 2020 price of around $10,463…
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the rise of digital money
september 16, 2020
Digital currencies once mostly considered stored value in a distributed data base on the intranet may be posed to bust out with greater consumer and institutional acceptance…
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a hero paying it forward
June 26, 2020
The idea of “paying it forward” has been around forever. It is the simple concept of being the beneficiary of support, learning, help, kindness, or other positive things, then repaying it for the benefit of others…
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Crypto Valley Struggles as Pandemic Continues
JUNE 10, 2020
Much like Silicon Valley in the United States, the Swiss city of Zug is home to Crypto Valley, a cryptocurrency and blockchain development hub with over 800 blockchain projects based there. Crypto Valley spans from Zug to Lichtenstein and is...
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Should You Invest in Bitcoin During the Coronavirus Pandemic?
MARCH 30, 2020
As COVID-19 continues to sweep the globe, many are wondering how this pandemic is affecting the value of cryptocurrencies, such as Bitcoin. The U.S. economy is in a downturn with one of the all-time sharpest declines in March and it...
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Will the Coronavirus Pandemic Accelerate Digital Banking?
APRIL 3, 2020
Banks and financial institutions around the world are currently feeling the effects of the COVID-19 pandemic. While we do not know how long the impact will last or how widespread the effects of it are yet, it is clear the...
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Social Impact Investing — Pay it Forward
MAY 18, 2020
Did you know that many investment funds now have a portion of their portfolio dedicated to social responsibility? As the world changes, so does the way we invest. Corporate social responsibility (CSR) is a continuously evolving model of incorporating sustainable...
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The Truth About Checkout Fees
APRIL 8, 2020
A checkout fee, also commonly known as a merchant surcharge, is the extra cost added by stores and merchants for credit card transactions. These fees are typically to cover the merchant’s own processing fees they’re charged for processing credit card...