Engadget, Swapna Krishna | Sept. 11, 2018 In a sign that digital currencies may be maturing, the state of New York has authorized Gemini Trust Company LLC and Paxos Trust Company LLC and to each offer a price-stable cryptocurrency—commonly known as “stablecoin”—pegged to the U. S. dollar. “As the financial technology marketplace continues to evolve, New York is committed to fostering innovation while ensuring responsible growth,” said New York’s Department of Financial Services Superintendent Maria Vullo. “These approvals demonstrate that companies can create change and strong standards of compliance within a strong state regulatory framework that safeguards regulated entities and protects consumers.”
Daily Fintech, Llias Louis Hatzis | August 6, 2018 The announcement that International Exchange (ICE), operator of 23 leading global stock exchanges including the New York Stock Exchange, announced it is partnering with Microsoft and Starbucks to create a Bakkt, a Bitcoin trading platform that allows investors to buy and hold Bitcoin without the use of futures, derivatives or other types of contracts. “This is game-changing,” wrote Daily Fintech’s Llias Lois Hatzis. “Individuals would be able to add Bitcoin to their IRA or 401k. It will open up access to millions of people who have been sitting on the sidelines not able to add Bitcoin to their portfolios.”
WolfStreet.com, Wolf Richter | July 23, 2018 During his testimony before the House of Representatives Committee on Financial Services, Federal Reserve Chairman Jerome Powell, was asked by representatives Patrick McHenry (R-NC) and Juan Carlos Vargas (D-CA) about the Fed’s thinking on cryptocurrencies. “Instead of pussyfooting around the issues, as Fed chairs used to do, he refreshingly stepped right into it, with both boots on the ground, so to speak,” wrote Wolf Richter.