Jon Matonis's Blog

e-Money Researcher

Jon Matonis is an e-Money researcher and crypto economist focused on expanding the circulation of nonpolitical digital currencies. His career has included senior influential posts at Sumitomo Bank, VISA, VeriSign, and Hushmail.

Is Institutional Money Coming Into Bitcoin?

Any institution investing on behalf of its customers has a fiduciary duty to protect those assets from theft, data loss, and jurisdictional risk. Additionally, a succession plan must be in place that anticipates reliance on multiple parties and the distribution of that reliance.

FinCEN Spying Plan Invites Privacy Workarounds

The dangers to financial privacy are monumental. Consider an Obama administration plan to give spy agencies unfettered access to data on American citizens and others who bank in the U.S.

How Cryptocurrencies Could Upend Banks' Monetary Role

I recently had a fascinating chat with the economist Peter Šurda to discuss how nonpolitical cryptocurrencies like bitcoin could alter the future of fractional reserve banking.

First Bitcoin Hedge Fund Launches from Malta

Ever since the bitcoin cryptocurrency first launched and achieved initial success, institutional investors and hedge fund managers have secretly sought a regulated investment vehicle for bitcoin placements. Malta-based Exante Ltd. has the solution with their new Bitcoin Fund.

France Plans to Prohibit Cash Payments Over €1,000

One of the best things about covering payments news is that you never run out of stories where various myopic governments attempt to restrict the flow of cash in a squeeze for revenue.

EU Court Strikes Down Swift's Blockade Against Iranian Banks

Reuters is reporting that a European Union court has ruled against the EU banking sanctions imposed on one of Iran's largest banks, which extends to the payment sanctions imposed by Swift in March of last year.

Government Ban On Bitcoin Would Fail Miserably

While this U.S.-centric plot would seem more plausible in a cryptographic flaw scenario, it does bring to light some interesting game theory strategies for both regulators and free market monetary proponents.

U.S. Secret Service Bans Certain Gold and Silver Coins on eBay

The State's nervousness with alternative money creation extends far beyond the lookalikes and the replicas. It goes to the heart of creating a new monetary system evidenced by the targeted shut down of systems that achieve significant market adoption or present an embarrassing dilemma.

Department Of Homeland Security To Scan Payment Cards At Borders And Airports

Travelers leaving or entering the United States have long had to declare aggregated cash and other monetary instruments exceeding $10,000. Now, under a proposed amendment to the Bank Secrecy Act, FinCEN (Financial Crimes Enforcement Network) will also require travelers to declare the value of prepaid cards that they are carrying, known now as "tangible prepaid access devices."

ECB: Bitcoin Rooted In Austrian School Of Economics

The ECB (European Central Bank) has produced the first official central bank study of the decentralized cryptographic money known as bitcoin. In claiming that "The theoretical roots of Bitcoin can be found in the Austrian school of economics," the ECB forever linked Bitcoin to the proud economic heritage of Menger, Mises, and Hayek as well as to Austrian business cycle theory.

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