Sentences with phrase «money transfer business»

«Our BOSS Revolution international money transfer business routinely utilizes digital assets to generate liquidity in fiat currencies for our disbursement agents as part of our transaction settlement process,» said Alfredo O'Hagan, senior vice president of IDT's consumer payments business.

A recent New York Times article published explained that more than 100 banks use Ripple's software, but MoneyGram and Mexican money transfer business Cuallix are its sole XRP customers.

A recent New York Times article published explained that more than 100 banks use Ripple's software, but MoneyGram and Mexican money transfer business Cuallix are its sole XRP customers.

Our BOSS Revolution international money transfer business routinely utilizes digital assets to generate liquidity in fiat currencies for our disbursement agents as part of our transaction settlement process.

In the latest regulatory backlash against ICOs, the SEC has decided that, effectively, anyone who sells tokens is an unregistered money transfer business and anyone issuing an ICO is a money transmitter that is subject to the Bank Secrecy Act.

Despite its reputation as an outdated relic, Western Union still has a highly profitable money transfer business and a digital channel growing at 22 % a year.

That's Mexico money transfer business Cuallix.

As one of the world's largest independent money transfer businesses, it processes billions of dollars» worth of transactions each year.

Meanwhile, the Financial Crimes Enforcement Network (FinCEN) has suggested in a newly - released letter that companies that hold token sales may be required to register as money transfer businesses under the Bank Secrecy Act and submit to many of the AML / KYC policies that govern financial institutions.

However, a newly released letter drafted by an official with the Department of the Treasury suggests that ICOs may also be subject to criminal statutes governing money transfer businesses.

Operating money transfer businesses without a license has frequently formed the motivation for jail sentences in recent years as informal Bitcoin trading goes awry.

Western Union has been investing heavily in its digital money transfer business, which continues to grow.

SEC decided that anyone selling tokens is an unregistered money transfer business and anyone issuing an ICO is a money transmitter subject to the Bank Secrecy Act.

In the context of the challenger bank comparison, I suggest that one way to think about TransferWise's Borderless account is that a multi-currency account is a feature of its core international money transfer business, whereas for challenger banks, money transfer and currency exchange is a feature of its bank accounts.

I'm sure plenty of Attorneys Generals and the DOJ would be interested in the question of whether this firm meets the definition of a bank or money transfer business or both.

Eligible transactions can't be purchases from grocery stores, wholesale stores, discount stores or money transfer businesses or financial institutions, as well as a couple others.

In order to carry out the basic functions of a money transfer business, transaction accounts need to have two combined features that banks offer only to merchant accounts.

The accounts must enable the money transfer business as the account holder not only to send money to customers» accounts but also to retrieve funds from customers» accounts with their permission.

In 2005, they sold a money transfer business, followed by the sale of a bureaux de change business in 2007.

The money transfer business was indicted for operating unlicensed, handling over $ 250 million in transactions.

He added that the partnership marked the company's first step on its blockchain journey, transforming its money transfer business across the globe.