Category: crypto

BitGo will provide custodial services for USDA, a Cardano-based stablecoin, in collaboration with Anzens and EMURGO. This partnership aims to enhance USDA’s security and compliance within the crypto ecosystem. Despite challenges, USDA plans a relaunch under new ownership, offering access to users in over 80 countries and redeemability for USD.

Gemini plans to close its operations in Canada by December 31, 2024, as stated in a customer email. Customers have until the end of 2024 to withdraw assets. The move follows stricter regulations impacting the crypto sector, prompting other firms like Binance and Paxos to exit the market.

Ripple has received in-principle approval from the Dubai Financial Services Authority, becoming the first blockchain-based payment provider licensed by the DFSA. This will allow Ripple to expand operations in the UAE, enhancing cross-border payment services and furthering its position as a regulated global entity amid growing competition with SWIFT.

Ethereum co-founder Vitalik Buterin defended a Hezbollah betting section on Polymarket, arguing it provides insights into public sentiment on conflicts. While acknowledging concerns about prediction markets influencing harmful actions, he proposed soft caps on market sizes to mitigate risks and promote socially beneficial betting practices without censorship.

The CSAO region is emerging as a global crypto hub, driven by India, Singapore, and Indonesia. These countries are leading in crypto adoption, offering innovative payment solutions, and experiencing significant trading growth, reshaping the cryptocurrency landscape.

Ohio State Senator Niraj Antani has introduced legislation to legalize Bitcoin and other crypto payments for taxes in Ohio, promoting cryptocurrency adoption in government transactions. The bill allows state universities and pension funds to invest in crypto. Previous efforts faced hurdles, but renewed interest may position Ohio among other crypto-friendly states.

Former President Donald Trump launched World Liberty Financial’s whitelist process on Sept. 30, aiming to leverage crypto for America’s greatness. Users must complete a KYC process to qualify, but US retail investors are currently excluded. WLFI, led by Trump’s sons, focuses on maintaining the US dollar’s dominance through stablecoins.

Robinhood Crypto’s VP Johann Kerbrat dismissed rumors about the company’s plans to launch a stablecoin, stating there are no immediate intentions to do so. He highlighted that the company is focused on partnerships, like listing USD Coin (USDC), rather than developing its own. Revolut is reportedly exploring a stablecoin but has no confirmed plans.

Bitcoin’s October performance is at risk due to high open interest in futures contracts and waning spot investor activity, according to Bitfinex’s report. While historically strong returns are expected, concerns include decreased aggressive buying and potential market overheating. However, a minor pullback could stabilize its upward trend.

Japan’s Financial Services Agency (FSA) plans to reassess crypto regulations, potentially lowering taxes on crypto gains from 55% to about 20% and reclassifying digital assets under the Financial Instruments and Exchange Act by 2025. This aims to enhance investment growth while balancing innovation with investor protection amid a changing political landscape.