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Title: [2018-05-21]Two Digital Currency Firms Are Trying Hard to Obtain Banking License Post by: Vladdirescu87 on May 21, 2018, 10:56:55 AM The Wall Street Journal (WSJ) reported on May 18, that two major cryptocurrency market players, Coinbase Inc. and ivyKoin, have tried to talk with the government regulators about getting banking licenses in order to expand the range of products they can offer.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/digital-currency-firms-to-obtain-banking-licenses/ https://coinidol.com/upload/resize_cache/iblock/2b4/900_900_1/2b440ed16d88f6c453a4de7825694fe3.jpg Title: Re: [2018-05-21]Two Digital Currency Firms Are Trying Hard to Obtain Banking License Post by: InvoKing on May 21, 2018, 07:28:01 PM Quote A bank charter may not be a top priority for the firms, however, it will facilitate the process of regulatory investigation a lot. Nevertheless, their decision will depend largely on the matter of cost needed for becoming a bank. Coinbase is acting like a bank anyway but an official recognition will boost the number of its clients for sure. And it is the first time hearing about ivykoin or i didn't pay attention that much before. It is a long process which isn't that easy. Title: Re: [2018-05-21]Two Digital Currency Firms Are Trying Hard to Obtain Banking License Post by: Mahanton on May 21, 2018, 08:22:29 PM Quote A bank charter may not be a top priority for the firms, however, it will facilitate the process of regulatory investigation a lot. Nevertheless, their decision will depend largely on the matter of cost needed for becoming a bank. Coinbase is acting like a bank anyway but an official recognition will boost the number of its clients for sure. And it is the first time hearing about ivykoin or i didn't pay attention that much before. It is a long process which isn't that easy. Title: Re: [2018-05-21]Two Digital Currency Firms Are Trying Hard to Obtain Banking License Post by: jjacob on May 21, 2018, 11:15:11 PM I wonder if they really want a banking licence. If they do qualify to be a bank, they will have huge capital requirements for risky businesses like their core bitcoin exchange. How would they convince the regulators that they have enough safeguards to protect the bitcoins in their custody?
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