Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest.
International Developments
- UK. A section of The Digital Disruption: UK Banking Report looks specifically at cryptocurrencies and covers issues presented by bitcoin including its volatility, illegal payments activity and relatively low market cap. However, the BBA conceded that bitcoin should not be ignored and stated that it is important for banks to take action now, investing time and energy in understanding how best to use the technology behind bitcoin.
More information: http://www.coindesk.com/british-banking-association-bitcoin-is-a-real-threat-to-banks/