DeFi News Official TheBitTimes.com

The latest delays came two weeks before the second deadline for many applicants. Despite United States Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres calling on the Securities and Exchange Commission (SEC) to immediately approve the listing of spot Bitcoin (BTC) exchange-traded funds (ETFs), the agency once again delay ed its decision .  When it comes to spot Ether (ETH) ETFs from VanEck and ARK 21Shares, the SEC delay ed making decision s until Dec. 25 and Jan. 10, respectively, while GlobalX will have to wait until Nov. 21 for the commission’s decision . It also delay ed deciding on the spot Bitcoin ETF applications of Invesco, Bitwise and Valkyrie until mid-January. The latest delays came two weeks earlier than the scheduled second deadline date for many applicants, who had been expecting to hear from the securities regulator by Oct. 16–19. The timing of the delays may have been related to the narrowly avoided U.S. government shutdown, which would have disr...

This week's Crypto Biz explores the latest on Binance's global on-ramps and off-ramps, Coinbase-Circle re -alignment , Shopify's take on USDC and China's blockchain data exchange. Global regulatory landscapes are once again proving to be a turning point for crypto companies, demanding constant adaptation to navigate shallow regulatory waters across the world, particularly in the United States. In the latest developments, Coinbase and Circle decided to dissolve the Centre Consortium in a strategic realignment driven by demand for regulatory clarity on stablecoins, possibly as an anticipation of upcoming legislation coming from the U.S. Congress. A legal alternative to remaining operational was also sought by Binance.US this week. The exchange announced a partnership with MoonPay featuring the dollar-pegged stablecoin Tether (USDT) as its new “base asset” for all transactions, allowing a path for users to transact in U.S. dollars while possibly sidestepping potential re...

Several suspects have been apprehended in China for selling used graphics cards as new to crypto miners in a counterfeit operation, reports on July 20 reveal. Their modus operandi involved purchasing relatively new GPUs in bulk from miners, cleaning them, removing identifying marks, and repackaging them to appear as brand-new models. The arrest came after a year-long investigation by police in the Bincheng district of Binzhou City. During the operation, authorities discovered numerous mining enclosures missing their graphics cards in a warehouse.  You might also like: China’s digital yuan hits $250 billion in transactions Seven people have been arrested in connection with the $2 million graphics card counterfeit scheme . The suspects, all Chinese nationals, are accused of producing and selling counterfeit graphics cards that look like genuine products from well-known manufacturers. The group exploited the current global chip shortage and the resulting hi...

The partnership will enable BNP Paribas China's corporate clients to make payments using the digital yuan through an e-CNY management system. The French bank BNP Paribas is collaborating with the Bank of China (BOC) to promote China's digital currency, the digital yuan, to its corporate clients, the South China Morning Post reported.  The partnership will enable BNP Paribas China's corporate clients to connect with the BOC system, allowing users to manage their digital yuan wallets by linking them to their bank accounts, track transactions, and make payments using China's digital currency via an e-CNY management system. The e-CNY management system also promises to make it easier and more convenient for clients to use digital cash for real-time transactions. The e-CNY management system can facilitate “efficient, real-time and convenient [digital cash] practice,” BNP shared, according to The South China Morning Post.  BNP Paribas China also plans to explore the use...

Most altcoins posted a below-par performance in March, but XRP, XLM, CFX, XDC and MASK defied the trend by posting double-digit gains. Bitcoin’s dominance over the crypto market, which represents its share of market capitalization relative to the total cryptocurrency market capitalization, rose steeply from around 44% to highs of 48% in March.  While Bitcoin’s price increased by 22.7% during the month, most altcoins yielded subpar or negative returns. However, there were some outliers which showed a second month of positive momentum. Take for example, XRP, which saw steady positive momentum as investors expect a positive outcome in its U.S. court case against the SEC. Tokens with highest 30-day returns in the top 100 by market capitalization. Source: CoinMarketCap Conflux Network Conflux Network continued its positive run from February, nearly doubling its price in March. The project’s team continued to strengthen its partnerships in China by adding XCMD, the world’s third-largest con...