Treasury has disclosed plans to regulate Bitcoin which will require traders of crypto-currencies to disclose their identities and report suspicious activity. The new rules, which will be applied across the EU, are expected to come into force by the end of 2018.
Grand View Research has forecast that the global contactless payments market will reach $2.23tn (transaction value) by 2025, with the main drivers being innovations in technologies such as Internet of Things and payments through mobile devices
Monzo has re-introduced its ‘Top up’ feature, which allows users to add funds to their account using another debit card, Apple Pay or Android Pay. However, it has asked people to only use the service for last minute emergencies, as the processing fees cost it an average of around £24 per customer each year
Facebook has announced that it has removed transaction fees on donations made to non-profit organizations through its platform
Federal Reserve has warned that Bitcoin and other digital currencies could threaten the world’s financial systems if they continues to grow
Vocalink has published a set of payments innovation ideas that would provide a foundation for a more productive and efficient UK economy. These include becoming an early adopter of Request to Pay (RTP) technology and encouraging wider use of e-invoicing by SMEs
Bkav, a Vietnamese cybersecurity company, has claimed to have hacked the iPhone X. It has produced a video showing how a researcher was able to reset the facial recognition using a mask made of a 3D printed visage and 2D printed eyes which cost less than $150, enrol his own face and then unlock the phone
Charles Schwab has fewer users than Coinbase, the largest bitcoin exchange in the US, according to a report from CNBC. The report also says that CME Group, the largest futures exchange, has announced plans to launch bitcoin futures in December 2017, which is likely provide a further boost to the already booming cryptocurrency
