payments

Ransomware Payments in 2021 Already Dwarf Last Year’s Total, FinCEN Reports

Ransomware Payments in 2021 Already Dwarf Last Year’s Total, FinCEN Reports

“We have seen an aggressive sustained effort on ransomware the last few weeks from the administration that started even before the Suex designation,” Redbord, a former Treasury official, told CoinDesk in a statement. “We are rightfully seeing the most focus on hardening cyber defenses, and when it comes to crypto, we are seeing Treasury, DOJ, …

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El Salvador’s biggest bank is now accepting bitcoin payments

El Salvador’s biggest bank is now accepting bitcoin payments

advertisement Clients of El Salvador’s largest bank, Bancoagrícola, will now be able to pay down their loans and credit card bills in bitcoin. They can also now use the cryptocurrency to purchase goods and services from merchants connected to the bank’s payment gateway. Bancoagrícola, founded in 1955 and now owned by Grupo Bancolombia, has tapped …

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A16Z-backed content platform Substack begins accepting bitcoin payments

A16Z-backed content platform Substack begins accepting bitcoin payments

advertisement Substack, an online content platform through which writers can make money from subscriptions, has integrated bitcoin as a payment option. The option is currently available only “to a select group of crypto-focused publications,” a Substack spokesperson told The Block, adding: “We’re looking forward to exploring broader availability depending on feedback and demand.” The crypto-focused …

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Beijing, Suzhou enable China's digital yuan payments for subways

Beijing, Suzhou enable China’s digital yuan payments for subways

The Chinese capital city of Beijing has extended the testing of China’s central bank digital currency, dubbed the e-CNY, to its railway system. The municipal government of Beijing said in an announcement Wednesday that users who have activated the standalone digital yuan mobile app via the Industrial and Commercial Bank of China (ICBC) are now …

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Swiss canton Zug now accepts bitcoin and ether for tax payments

Swiss canton Zug now accepts bitcoin and ether for tax payments

The canton of Zug, one of the Swiss Confederation member states, has begun accepting bitcoin (BTC) and ether (ETH) for tax payments after initially announcing support last September. Kanton Zug has partnered with Bitcoin Suisse for the initiative, meaning the Swiss crypto firm will convert residents’ BTC and ETH tax payments into Swiss Francs for …

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PayPal CEO says the payments giant wants to be 'the digital wallet for global CBDCs'

PayPal CEO says the payments giant wants to be ‘the digital wallet for global CBDCs’

PayPal CEO Dan Schulman said Thursday that he sees PayPal playing a significant role in the utility of central bank digital currencies (CBDCs). On the company’s investor day call, Schulman said PayPal is gearing up to be “the digital wallet for global CBDCs.” PayPal’s newly unveiled product roadmap for crypto includes becoming a CBDC platform. …

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Could Scalable Bitcoin Payments Undermine the Asset's Value?

Could Scalable Bitcoin Payments Undermine the Asset’s Value?

With the wild journey that is bitcoin price swings so far this year, you might have missed the accelerating rhythm of companies announcing services to support bitcoin for payments. We’re not talking about small idealistic startups, either. A week ago, on Visa’s Q1 earnings call, CEO Al Kelly said the company may add cryptocurrencies to …

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Credit Card Companies Should Offer Stablecoin Payments or Be Left Behind: Gartner

Credit Card Companies Should Offer Stablecoin Payments or Be Left Behind: Gartner

Centralized payment companies such as Visa, Mastercard and PayPal will need to adapt if they are to survive the potential demand for blockchain-based stablecoin payments, according to research firm Gartner. In a Thursday blog post, Gartner notes that, while new bitcoin offerings from such firms are helping to prepare the transition to a future payment …

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The Biden transition team just added one of the country’s most serious thinkers on the future of payments

The Biden transition team just added one of the country’s most serious thinkers on the future of payments

Quick Take Former CFTC chair Gary Gensler is no crypto enthusiast, but he takes the underlying payments technology very seriously. As an MIT professor, Gensler argued that cryptocurrency has exposed shortcomings in traditional existing payments infrastructure. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on …

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