Welcome to the Five at Five, your latest look at payments and daily trade news . Coverage includes a 41-month prison term for a bitcoin merchant, Starbucks who is thinking of a bitcoin project, Barclays investing in an alternative lender, Discover appointing a new CEO and proposing legislation to ban overdraft fees on ATMs and debit transactions.
Bitcoin Trader Thomas Mario Costanzo gets a 41-month sentence in jail
Constantius, also known as Morpheus Titania, received the sentence from US District Judge G. Murray Snow after being convicted in a jury trial Federal. Will receive credit for the time since the arrest of April 2017. Constantius had previously been convicted for the use of cryptocurrency for money laundering and the court in the case today expressed on the confiscation of nearly 81 bitcoins provided to an undercover agent in a money laundering operation that was worth $ 107,000 at the moment – now worth more than $ 600,000.  Starbucks can help consumers pay with Bitcoin
The coffee chain is part of a project that could help cryptocurrency holders spend their money. The project involves a group of companies working with the planned digital asset company of Exchange International called Bakkt. The new entity will have "commercial and consumer applications" and bitcoins to flat currency conversions as an early use case.
Barclays invests in a market for alternative lendersInvoice
The financial institution became the first on High Street to enter into such a partnership with an alternative lender. Barclays is acquiring a minority stake in MarketInvoice, which will complement its bill financing solutions with Barclays products.
Discover Names current president to become new CEO
The credit card company named Roger Hochschild, current president and COO, a succeeds David Nelms as new CEO starting in October. Hochschild has been in company since 2004 and will also retain the title of president. Nelms has informed the board that he will retire in 2019 and, having renounced the position of CEO, will retain the title of executive president.
Booker proposes a ban on collecting debit and debit card fees
Senator Cory Booker (D-NJ) – a possible candidate for DNC in the presidential race of 2020 – has proposed to ban banks from imposing taxes on consumers who are able to withdraw their accounts via debit cards or ATM transactions. Furthermore, overdraft fees would be limited on check payments.