Visa CEO Alfred Kelly recently offered his thoughts on whether the credit card company might offer cryptocurrency payment processing in the near future. On Tuesday. CNBC interviewed Kelly during a conference of the National Retail Federation. Kelly suggested that digital currencies like Bitcoin are not money, and said that Visa will not process those types of transactions:
With the value of Bitcoin and other digital currencies in steep decline in recent days, many skeptics are once again racing to write cryptocurrency’s obituary. However, billionaire entrepreneur and Dallas Mavericks owner Mark Cuban appears to see things differently. In response to a Twitter question about when his team’s fans would be able to use Bitcoin to purchase tickets to the game, Cuban offered a two-word response:
Governments around the world have been struggling to respond to the digital currency revolution. In nations like China, regulators have moved to restrict cryptocurrency-related activities like ICOs and trading at local digital currency exchanges. Other nations have moved to implement new regulations to ensure that cryptocurrencies are covered by existing anti-money-laundering and terrorist financing rules. According to a board member at the Deutsche Bundesbank, however, an even more centralized solution is needed.
As Bitcoin and other digital currencies exploded in value in the last year, many investors enjoyed a dramatic return on their investment. Some of those fortunate investors have apparently decided to harness some of that newfound wealth and use it to purchase real estate in the UK. On the surface, that might seem like a prudent decision, given the ongoing volatility in cryptocurrency markets. In practice, however, many UK investors are experiencing unexpected resistance from the country’s lenders.
Treasury Sec Mnuchin: US Will Work With G-20 Partners to Prevent Cryptocurrency from Becoming “Swiss Bank Account”
In remarks offered at an Economic Club of Washington event on Friday, U.S. Treasury Secretary Steven Mnuchin acknowledged that the United States will work with other nations to ensure that digital currencies are not misused by “bad people.” Much of that effort will focus on preventing people from using cryptocurrencies in the same way people once used Swiss bank accounts.