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Goldman Sachs Considers Offering Cryptocurrency Custody Services

New York-based multinational investment bank Goldman Sachs is making another step forward in its bet on the cryptocurrency market. The firm, led by chairman and CEO Lloyd Blankfein, is reportedly considering a plan to offer custody for cryptocurrency funds.

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Report: Banks Are Spending $1.7 Billion Each Year on Blockchain

Adoption of the blockchain within the financial services industry is on an intense upward trajectory, according to the findings of management consulting company Greenwich Associates. They have found that the industry is spending about 1.7 billion per year on the technology.Banking Industry Spends 1.

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Visa Outage in Europe Highlights Potential of Cryptocurrency Payments

Payment technology has introduced a high degree of convenience for consumers globally. When that technology does not work as advertised, a very problematic scenario ensues. Visa suffered from major outages across Europe for most of the day on Friday. This highlights the need for alternative solutions, including cash and even cryptocurrency.

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Thomson Reuters Launches Real Time Cryptocurrency Tracker

Thomson Reuters posted a press release on their website to announce their real time virtual currency data feed the news service has dubbed Cryptocurrency Real Time Rates. The product provides real-time information across six currencies gleaned from major exchanges, including bitFlyer and BITpoint, in the cryptocurrency market.

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Australians Look to Bitcoin as Government Bans $10,000 Cash Payments

The government of Australia plans to set up a Black Economy Standing Taskforce that aims to reduce the weight of illegal economic activity in the country.To this end, the commissionis introducing an economy-wide cash payment limit of A10,000 to businesses.

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Japan Has Become a Cryptocurrency Haven

Japan is quickly becoming a global center for blockchain ventures and cryptocurrency firms. Despite the region’s colorful history involving Mt. Gox, for example, the local authorities see merit in these new technologies in the global cryptocurrency industry.

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