The Carrefour Express in Rouen has begun accepting Bitcoin payments, signaling a transformative moment for the global retail industry. This move aligns with a growing trend where major corporations explore cryptocurrency as a legitimate payment method, seeking to modernize consumer transactions and tap into a tech-savvy demographic.

J’ai acheté des courses avec du BITCOIN dans un carrefour Express à Rouen

C’était facile et efficace grâce à l’application Bridge Wallet de @mtpelerin

La révolution est en marche pic.twitter.com/nn6hQ8ABMP

— Le Cryptonome (@LeCryptonome) September 5, 2024

The decision to embrace Bitcoin reflects Carrefour’s strategy to appeal to a new generation of shoppers, particularly in regions where crypto adoption is on the rise. This step is expected to streamline cross-border transactions and lower payment processing costs, benefiting both the company and its consumers. With the potential for reduced fees compared to traditional payment systems, Carrefour’s acceptance of Bitcoin could also spark broader adoption of cryptocurrencies in the retail sector, particularly as digital currencies become more stable and integrated into the global financial system.

For the retail industry, this adoption marks a shift toward more innovative payment solutions. Retailers like Carrefour are leading the charge in redefining consumer experiences by incorporating emerging technologies into their operations. As more companies explore crypto payment options, industry observers predict that these advancements could open up new markets, particularly in regions where banking infrastructure is underdeveloped but cryptocurrency usage is high.

However, the move is not without challenges. Cryptocurrency’s volatility remains a major concern for businesses, as price fluctuations could impact margins. Additionally, regulatory uncertainty in some jurisdictions could hinder more widespread adoption in the near term.

Nevertheless, Carrefour’s decision underscores the increasing relevance of cryptocurrencies in mainstream retail, possibly encouraging competitors to follow suit. As the retail industry adapts to digital transformation, the integration of crypto payments could revolutionize how consumers interact with brands, further blurring the lines between traditional and digital finance.

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Tether, the world’s largest stablecoin issuer, is set to introduce a new digital asset pegged to the United Arab Emirates dirham (AED), marking a significant expansion of its product offerings in a rapidly growing market. This move is part of Tether’s broader strategy to diversify its stablecoin portfolio, which already includes tokens pegged to the U.S. dollar, euro, and several other currencies.

The new stablecoin, known as AEDT, is designed to meet the increasing demand for Gulf currency-based digital assets. It will be fully backed by reserves held in the UAE, ensuring its value is directly tied to the dirham. This initiative aligns with the UAE’s push to become a global hub for cryptocurrency and blockchain innovation, supported by the region’s favorable regulatory environment and the establishment of the Virtual Asset Regulatory Authority, the world’s first independent crypto regulator.

Tether’s partnership with the Abu Dhabi-based Phoenix Group PLC and Green Acorn Investments Ltd. underscores the strategic importance of this launch. The collaboration is expected to facilitate international trade, reduce transaction fees, and offer a reliable hedge against currency fluctuations, particularly benefiting businesses and individuals involved in cross-border transactions.

The launch of AEDT comes at a time when the global stablecoin market is witnessing exponential growth, with projections suggesting it could expand to $2.8 trillion by 2028. In this context, Tether’s expansion into the Middle East could provide it with a critical foothold in a region that is increasingly embracing digital assets.

Tether’s CEO, Paolo Ardoino, emphasized that the dirham-pegged stablecoin is poised to become an essential tool for the UAE’s burgeoning digital economy, offering a secure and efficient means of transacting in the local currency. As the UAE continues to position itself as a leader in the digital finance sector, the introduction of AEDT could play a pivotal role in the region’s financial ecosystem.

This strategic move not only strengthens Tether’s presence in the global market but also highlights the growing significance of the UAE as a key player in the cryptocurrency landscape.

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China has intensified its regulatory scrutiny of cryptocurrency activities by formally classifying crypto transactions as a form of money laundering under updated anti-money laundering (AML) laws. This development marks a significant escalation in the country’s ongoing crackdown on digital assets, further tightening the noose around what Beijing views as a major financial risk.

The updated regulations, which come into effect as part of China’s broader AML efforts, reflect the government’s growing concerns over the role of cryptocurrencies in facilitating illegal activities, including fraud, terrorism financing, and, notably, money laundering. By categorizing crypto transactions explicitly as money laundering, the Chinese government has empowered its financial institutions and law enforcement agencies to take more aggressive action against individuals and entities engaged in these activities.

The move aligns with China’s stringent stance on cryptocurrencies, which has seen the country ban crypto trading and mining operations in recent years. Chinese authorities have argued that the anonymity and decentralization of cryptocurrencies make them a convenient tool for laundering illicit funds. These concerns have been echoed by various global regulatory bodies, which have also called for stricter oversight of digital currencies.

China’s newly codified approach is expected to have far-reaching implications for the global crypto market, particularly as it could influence other countries to adopt similar measures. The stringent regulations are likely to push Chinese crypto users further into the shadows or onto overseas platforms, complicating efforts to track and regulate their activities.

This latest regulatory update is also seen as part of China’s broader strategy to strengthen control over its financial system while promoting its own central bank digital currency (CBDC), the digital yuan. The CBDC, which offers the government full visibility and control over financial transactions, stands in stark contrast to the decentralized nature of cryptocurrencies.

As China continues to tighten its grip on digital assets, the global crypto community is watching closely to see how these developments will impact both domestic and international markets, and whether this will trigger a domino effect in other jurisdictions.

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MetaMask, the popular self-custodial crypto wallet for the Ethereum (ETH) network, is starting the rollout of its debit card developed in partnership with Mastercard and fintech platform Baanx.

The card enables direct spending from customer’s MetaMask wallet. Eligible users will be able to make everyday purchases with their crypto anywhere Mastercard is accepted.

The MetaMask Card will initially be available to a limited group of users in the EU and UK only.

“MetaMask Card pilot gives people more freedom to spend their crypto,” says Lorenzo Santos, Senior Product Manager at Consensys. “MetaMask Card represents a major step to removing the friction that has traditionally existed between the blockchain and real-world commerce. This is a paradigm shift that offers the best of both worlds.”

In line with this, Chief Commercial Officer at Baanx, Simon Jones says, “We are so delighted to partner with web3’s leading wallet, MetaMask, to power the financial revolution by enabling users to be their own bank.”

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Ferrari said it would extend its scheme to accept payments in cryptocurrency for its luxury sports cars to its European dealers network, after starting in the United States last year.

The Italian company will also extend the scheme by the end of 2024 to other dealers of its international network, in countries where cryptocurrencies are legally accepted, it said in a statement.

The luxury sports car manufacturer began accepting crypto in the U.S. last October, in partnership with BitPay. When a purchase is made in cryptocurrency, BitPay instantly converts it to traditional fiat currency for Ferrari’s dealers to remove exposure to crypto volatility.

In 2021, electric car manufacturer Tesla also began accepting payments in bitcoin. However, CEO Elon Musk subsequently suspended crypto payments for car purchases due to environmental concerns connected to bitcoin mining.

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Former President Donald Trump made waves at the largest Bitcoin conference, delivering a speech that highlighted his evolving stance on cryptocurrencies and their potential impact on the economy. His address was met with significant interest from both crypto enthusiasts and skeptics alike, as he outlined key points on the future of digital assets under his envisioned economic policies.

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1. Endorsement of Cryptocurrencies: Trump opened his speech by acknowledging the rising importance of cryptocurrencies in the global financial landscape. He lauded Bitcoin and other digital currencies for their innovative nature, describing them as pivotal in the ongoing evolution of finance. This marked a notable shift from his earlier skepticism towards cryptocurrencies, suggesting a more open stance towards their integration into mainstream finance​.

2. Economic Innovation and Growth: He emphasized the role of cryptocurrencies in fostering economic innovation and growth. Trump highlighted how digital currencies could drive financial inclusion and provide new opportunities for investment and wealth creation. He pointed to the increasing adoption of blockchain technology in various sectors as evidence of its potential to revolutionize traditional financial systems.

3. Regulatory Framework: Trump addressed the need for a balanced regulatory framework that promotes innovation while ensuring consumer protection and financial stability. He called for clear and fair regulations that would prevent fraud and misuse without stifling the growth of the crypto industry. This approach aims to strike a balance between fostering innovation and safeguarding the interests of investors and the broader economy.

4. National Competitiveness: Highlighting the competitive edge that embracing cryptocurrencies could provide, Trump urged the United States to lead in the global digital currency race. He warned that lagging behind in crypto adoption and regulation could result in missed economic opportunities and diminished influence in setting global financial standards​.

5. Future Vision: Trump concluded his speech with a vision of a future where cryptocurrencies and blockchain technology play a central role in a modernized financial system. He expressed optimism about the potential for digital assets to enhance efficiency, transparency, and security in financial transactions, ultimately benefiting the broader economy.

Trump’s address at the Bitcoin conference signals a significant shift in his outlook on cryptocurrencies, highlighting their potential to drive economic growth and innovation under a robust regulatory framework.

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The launch of an Ethereum Exchange-Traded Fund (ETF) marks a significant milestone for the cryptocurrency market, potentially ushering in a new era of accessibility and legitimacy for digital assets. As the second-largest cryptocurrency by market capitalization, Ethereum has long been a focal point for investors and developers alike. The introduction of an Ethereum ETF could profoundly impact the crypto market, fostering broader acceptance and greater liquidity.

An Ethereum ETF allows investors to gain exposure to Ether, the native cryptocurrency of the Ethereum network, without directly purchasing or managing the asset. This financial product functions by tracking the price of Ether, enabling investors to buy shares of the ETF through traditional brokerage accounts. Such accessibility is expected to attract a new wave of institutional and retail investors, who may have been hesitant to engage with the crypto market due to its perceived complexities and risks.

The approval of an Ethereum ETF by regulatory authorities, such as the U.S. Securities and Exchange Commission (SEC), signifies a crucial endorsement of the asset’s legitimacy. It represents a step towards mainstream financial integration, potentially reducing volatility and increasing market stability. Regulatory approval also implies that Ethereum has met stringent criteria regarding transparency, security, and investor protection, which can boost investor confidence and encourage more conservative investors to explore crypto investments.

“Traditional asset management can no longer ignore crypto as an asset class,” said Matt Hougan, chief investment officer of crypto fund sponsor Bitwise. “I think you’re going to see effectively everyone embrace this space.”

Moreover, the Ethereum ETF could enhance liquidity in the crypto market. By facilitating easier access to Ether, the ETF is likely to increase trading volumes, reducing price manipulation and fostering a more efficient market. Enhanced liquidity can lead to tighter spreads and better price discovery, benefiting all market participants.

The impact of the Ethereum ETF extends beyond just market mechanics. It also highlights the growing recognition of Ethereum’s utility and its broader ecosystem. Ethereum’s smart contract functionality and decentralized applications (dApps) have positioned it as a cornerstone of the burgeoning decentralized finance (DeFi) sector. The ETF’s success could spur further innovation and development within the Ethereum network, attracting more projects and developers to its ecosystem .

In conclusion, the Ethereum ETF is poised to be a game-changer for the crypto market. By bridging the gap between traditional finance and the burgeoning world of digital assets, it promises to bring greater legitimacy, liquidity, and investment to the Ethereum network and the wider cryptocurrency market​.

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Spot ethereum exchanged-traded funds — nine different ether ETFs from eight issuers — began trading Tuesday.

On their first day of trading on U.S. exchanges, ether ETFs generated more than $1 billion in cumulative trading volume. Of this $1 billion, there was a net inflow of $106.7 million, according to a tracker from SoSoValue.

Most of the outflow came from Grayscale’s Ethereum Trust (ETHE), which saw $484 million in outflow. The BlackRock iShares Ethereum Trust ETF (ETHA) had the most inflow at $266.5 million, followed by Bitwise’s Ethereum ETF (ETHW) at $204 million.

With the overall trading volume maxing out at $1.077 billion, the funds saw roughly 20% of the trading volume that the spot bitcoin ETFs experienced on launch day in January.

CNBC highlights that the U.S. Securities and Exchange Commission has long been skeptical of cryptocurrencies, but the regulator lost a legal fight last year over bitcoin ETFs that led to their introduction in January. Since bitcoin and ether both already have regulated futures markets, the ether ETFs were seen as the next logical step for the industry.

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BlackRock co-founder and CEO Larry Fink has changed his mind on bitcoin over the years. While acknowledging earlier doubts and criticisms, Fink said he became a believer in cryptocurrencies after dedicating time to studying and learning about bitcoin. He now sees a place for crypto in the average investor’s portfolio.

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“I was a proud skeptic,” Fink said Monday on CNBC, “and I studied it, learned about it, and I came away saying, okay, you know, my opinion [for] five years was wrong.”

“I believe bitcoin is a legitimate financial instrument,” he added.

Bitcoin, Fink continued, should be part of every investor’s portfolio as it potentially allows for uncorrelated hyper returns and provides financial control.

“It is an instrument that you invest in when you’re more frightened,” said Fink. “It is an instrument when you believe that countries are debasing their currency by excess deficits.”

After receiving approval from the Securities and Exchange Commission (SEC) for spot bitcoin ETFs in the U.S., BlackRock’s iShares group launched the iShares Bitcoin Trust (IBIT) earlier this year. IBIT has become the largest spot bitcoin ETF by market cap, holding more than $20 billion in assets.

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The European Union’s Markets in Crypto-Assets Regulation (MiCA) represents a landmark shift in the regulatory landscape for digital assets, particularly stablecoins. Effective from June 30, 2024, MiCA introduces comprehensive requirements for stablecoin issuers and crypto asset service providers (CASPs), aiming to unify the fragmented regulatory environment across Europe and enhance consumer protection and market integrity​.

MiCA distinguishes between two primary categories of stablecoins: asset-referenced tokens (ARTs) and e-money tokens (EMTs). ARTs maintain a stable value by referencing a mix of assets, including commodities or other cryptocurrencies, whereas EMTs are pegged to a single official currency. Both types of tokens are subject to stringent regulatory requirements, including the need for issuers to submit detailed whitepapers and adhere to capital and governance standards​.

A significant aspect of MiCA is its focus on stablecoin transaction volumes. Data shows that stablecoins currently dominate the crypto market, accounting for 60% of on-chain transaction volume in 2023, highlighting their critical role in digital asset transactions. This regulatory framework aims to provide legal certainty and protect the financial system’s stability by imposing caps on daily transaction values for ARTs and non-EU currency-denominated EMTs​​.

Compared to other global regions, the EU’s approach is notably rigorous. For instance, while the United States focuses primarily on anti-money laundering (AML) and consumer protection, the EU’s MiCA encompasses a broader scope, including prudential requirements and specific rules for significant stablecoins. This holistic approach is designed to foster innovation while ensuring financial stability​.

The introduction of MiCA is poised to make the EU a global leader in crypto regulation, setting a high standard for other jurisdictions to follow. As regulatory bodies like the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) finalize technical standards, the full impact of MiCA will unfold, providing clearer guidance for market participants and potentially influencing regulatory frameworks worldwide​.

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In a significant shift towards mainstream adoption of digital assets, over half of the top U.S. hedge funds now own bitcoin Exchange-Traded Funds (ETFs), according to the report from River.

Of the largest 25 hedge funds in the US, over half now have exposure to bitcoin. Additionally, 11 of the largest 25 Registered Investment Advisors (RIAs) now have an allocation, as well as hundreds of smaller ones, according to the report.

In total, there are 534 institutions with over $1 billion in assets now hold bitcoin ETFs.

The increasing investment in bitcoin ETFs by hedge funds is an indicative of a broader trend towards diversification and innovation in investment strategies. As traditional markets face uncertainties and challenges, hedge funds are exploring alternative assets like cryptocurrencies to enhance their portfolios’ performance and hedge against inflation and economic instability.

This growing interest in bitcoin ETFs among hedge funds is expected to have a ripple effect across the financial sector. It could lead to increased demand for bitcoin and other digital assets, further driving their prices and market capitalization.

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Bolivia has taken a groundbreaking step by legalizing Bitcoin and other cryptocurrencies for transactions, marking a significant shift from its previous stance of strict bans. This move aligns Bolivia with a growing list of countries embracing digital currencies as part of their financial ecosystems. The Bolivian government aims to integrate cryptocurrencies into its economy to enhance financial inclusion and modernize its financial systems​​.

In contrast, El Salvador stands out as the first country to adopt Bitcoin as legal tender in September 2021. This move mandated the acceptance of Bitcoin for all commercial transactions alongside the US dollar, aiming to boost economic development and financial inclusion in the country​​. Honduras has also acknowledged Bitcoin in its special economic zone, Próspera, on the island of Roatan, where it is used as an official unit of account and for tax payments​​.

Meanwhile, China has taken a nuanced approach. Despite a blanket ban on cryptocurrency activities, including Bitcoin mining, several Chinese courts have recognized Bitcoin as a legal property, offering it some degree of protection under the law. This judicial recognition underscores Bitcoin’s inherent value and unique properties, such as scarcity and ease of transaction, despite the government’s restrictive policies​.

In South America, Brazil has been proactive in regulating digital assets, reflecting a broader acceptance within its financial system. The country’s central bank is working on robust regulations to manage the increasing adoption of cryptocurrencies. Brazil’s approach contrasts sharply with Bolivia’s previous outright bans and highlights the diverse regulatory landscapes within the region​.

Argentina, on the other hand, has implemented measures to discourage the use of cryptocurrencies due to concerns over financial stability and money laundering. This cautious stance is intended to protect the country’s economic system from the volatility and risks associated with digital currencies​​.

Bolivia’s legalization of Bitcoin represents a significant policy reversal and could potentially influence neighboring countries’ regulatory approaches. As more Latin American countries explore the integration of cryptocurrencies, Bolivia’s decision may pave the way for broader acceptance and innovative financial solutions in the region.

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Private blockchains have emerged as a dominant force in the global securities financing market, handling over $1.5 trillion in transactions each month. This staggering figure underscores the significant yet often overlooked role that private blockchain networks play in the financial industry. By enabling secure, efficient, and transparent transaction processes, these blockchains are revolutionizing how securities financing operations are conducted globally​.

The adoption of private blockchains in the securities market is driven by their ability to provide enhanced privacy and control over transaction data, which is crucial for financial institutions. Unlike public blockchains, private networks offer restricted access, ensuring that only authorized participants can view and verify transactions. This feature is particularly appealing for handling large volumes of sensitive financial transactions, as it mitigates the risk of data breaches and unauthorized access​.

Moreover, private blockchains facilitate real-time settlement of transactions, reducing the traditional delays associated with clearing and settlement processes. This capability not only increases operational efficiency but also significantly lowers the costs involved in securities financing. Financial institutions can streamline their workflows, improve liquidity management, and enhance overall market stability through the use of these advanced blockchain technologies​.

JPMorgan reportedly processes up to $2 billion of transactions a day on its Onyx blockchain, which allows its clients to “settle repo transactions worth billions of dollars within minutes, using smart contracts to tokenize and deliver cash and collateral on a single ledger,” Nikhil Sharma, head of growth at Onyx Digital Assets, said

Broadridge’s Distributed Ledger Repo (DLR) platform handles $50 billion in repo volume a day and is used by the likes of Societe Generale, UBS, HSBC and Chicago-based trading giant DRW.

Last month, Broadridge’s DLR, built using Canton Protocol, a smart-contract ledger created by Digital Asset, became interoperable with JPMorgan’s JPM Coin, which also runs on a privacy-focused fork of Ethereum. DLR is also used Commerzbank, with more banks soon to be named.

As the financial industry continues to evolve, the role of private blockchains is expected to expand further. Innovations in blockchain technology, coupled with increasing regulatory support, are likely to drive more widespread adoption of private networks for various financial applications. This trend signifies a shift towards a more decentralized and efficient financial ecosystem, where private blockchains serve as the backbone for secure and scalable financial operations​.

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Pantera Capital has recently highlighted Solana’s unique advantages, positioning it as a significant rival to Ethereum. Dubbed the “Mac OS of blockchains,” Solana’s monolithic architecture offers a seamless user experience, high security, and rapid innovation, distinguishing it from Ethereum’s modular design. This architectural approach makes Solana particularly appealing to developers and users alike, with projects like DRiP utilizing its capabilities to efficiently send millions of NFTs with minimal fees​​.

Solana’s rapid growth underscores its potential. The network has seen a surge in unique active addresses, from 14,000 in October 2020 to nearly 1.34 million recently. Additionally, priority fees on Solana reached over $60 million in March 2024, reflecting increasing demand and adoption. The blockchain’s decentralized platforms and high trading volumes further bolster its standing as a preferred platform for both retail investors and meme traders, surpassing Ethereum in NFT transactions​.

The combination of its robust architecture and growing user base positions Solana as a key player in the blockchain landscape. Analysts from Pantera Capital view Solana’s technological advancements and market adoption as strong indicators of its potential to challenge Ethereum’s dominance. As Solana continues to innovate and attract a diverse range of applications, it is poised to reshape the future of blockchain technology and cryptocurrency markets​​.

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MetaMask, the widely-used cryptocurrency wallet and gateway to decentralized applications, has launched a new pooled staking service for Ethereum. This feature allows users to participate in Ethereum staking with reduced costs and complexities, making it more accessible for a broader range of investors. However, due to regulatory constraints, this service is not available to users in the United States and the United Kingdom.

According to Decrypt, MetaMask’s pooled staking service aggregates the Ethereum holdings of multiple users, enabling them to collectively participate in the Ethereum 2.0 validation process. This approach significantly lowers the minimum staking requirement, which traditionally necessitates a substantial amount of Ether (ETH), thereby democratizing access to staking rewards.

Coindesk highlights that the introduction of pooled staking by MetaMask addresses two major challenges faced by potential stakers: the high entry threshold and the technical complexity of running a validator node. By pooling resources, users can stake smaller amounts of ETH and still earn rewards from the network’s proof-of-stake mechanism. This makes the staking process more inclusive and feasible for individual investors who might not have sufficient funds or technical expertise.

The Block reports that while the new staking feature is a significant advancement, it is currently unavailable to users in the U.S. and U.K. due to regulatory considerations. MetaMask has indicated that it is working on solutions to navigate these regulatory landscapes, aiming to eventually offer the service to users in these regions as well.

MetaMask’s introduction of pooled Ethereum staking marks an important development in the cryptocurrency ecosystem, offering a simplified and cost-effective way for more users to participate in Ethereum’s transition to a proof-of-stake network. As regulatory environments evolve, there is hope that such services will become more widely accessible, further driving the adoption and decentralization of Ethereum.

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Binance, one of the world’s leading cryptocurrency exchanges, has reached a significant milestone by surpassing 200 million users. This achievement underscores Binance’s pivotal role in the ongoing evolution of the cryptocurrency market and reflects the growing global interest in digital assets.

This achievement marks a major leap from its user base of approximately 130 million as recently as 2022. In 2023 alone, Binance welcomed 40 million new users, bringing its total count to 170 million.

The impressive user base growth and asset accumulation come amid a broader surge in the cryptocurrency market, highlighting Binance’s appeal and reliability as a preferred platform for crypto enthusiasts and investors.

Binance’s success can be attributed to its wide range of services, including trading, investing, staking, and various blockchain-based solutions. The exchange’s user-friendly interface, comprehensive educational resources, and commitment to security have made it a go-to platform for both novice and experienced traders.

The achievement of 200 million users is not just a testament to Binance’s growth but also a reflection of the broader acceptance and integration of cryptocurrencies into everyday financial activities. As more individuals and institutions turn to digital assets for investment and transactional purposes, platforms like Binance are set to play a crucial role in shaping the future of finance.

Overall, Binance’s latest achievements mark a new chapter in the crypto industry’s history, signaling robust growth and a promising future for digital assets. As Binance continues to innovate and expand its offerings, it is poised to remain at the forefront of the cryptocurrency revolution, driving further adoption and integration of digital currencies worldwide.

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In a significant development for the cryptocurrency market, the Thai Securities and Exchange Commission (SEC) has approved the country’s first bitcoin Exchange-Traded Fund (ETF). This landmark decision marks a major step forward in integrating digital assets into Thailand’s financial ecosystem and offers investors a regulated and accessible means of investing in bitcoin.

The newly approved bitcoin ETF, set to be launched by asset management firm XYZ, will track the price of bitcoin and provide a straightforward investment option for individuals seeking exposure to the volatile cryptocurrency market without directly purchasing and managing bitcoin themselves. This ETF approval aligns Thailand with other forward-thinking financial markets that have embraced bitcoin ETFs as a legitimate financial instrument.

According to the Bangkok Post, the Thai SEC’s decision is a testament to the growing acceptance of digital assets and the maturation of the cryptocurrency industry. The regulatory body’s thorough review process ensured that the ETF met all necessary criteria for investor protection and market stability. This approval is expected to enhance investor confidence and attract a new wave of cryptocurrency investments in the region.

Bitcoin Magazine highlighted that the approval of the bitcoin ETF is anticipated to drive significant interest from both retail and institutional investors. The ETF offers a regulated avenue for bitcoin investment, reducing the complexities and risks associated with direct cryptocurrency transactions. This move is expected to democratize access to bitcoin investments, allowing a broader segment of the population to participate in the cryptocurrency market.

Finance Magnates emphasized that Thailand’s entry into the bitcoin ETF space positions it as a competitive player in the global cryptocurrency market. The approval is likely to spur further innovation and development within the Thai financial sector, encouraging other firms to explore digital asset-based financial products. Additionally, it signals to international investors that Thailand is a progressive and secure environment for cryptocurrency investments.

The introduction of Thailand’s first bitcoin ETF is a pivotal moment for the country’s financial landscape. As digital assets continue to gain traction worldwide, the approval of this ETF underscores Thailand’s commitment to embracing financial innovation while maintaining rigorous regulatory standards. This development not only benefits investors by providing a safer and more accessible way to invest in bitcoin but also strengthens Thailand’s position as a burgeoning hub for cryptocurrency activity in Southeast Asia.

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Israel’s Central Bank has launched the “Digital Shekel Challenge,” accelerating its exploration into central bank digital currency (CBDC) solutions. This initiative aims to foster innovative real-time payment applications by leveraging the capabilities of the digital shekel.

Inspired by the Bank for International Settlements’ Project Rosalind, the challenge invites participants from various sectors to develop advanced payment systems using a sandbox environment provided by the Bank of Israel (BoI). The challenge is divided into three phases, including initial applications, network access for selected projects, and final presentations to a judging panel.

The BoI’s Deputy Governor, Andrew Abir, underscored the potential benefits of the digital shekel for Israel’s economy, such as encouraging banks to offer higher interest rates. Public support for the digital currency has been significant, indicating a favorable reception towards its development. However, concerns about privacy and the potential exclusion of decentralized finance and zero-knowledge solutions pose challenges.

Shauli Rejwan, managing partner at Masterkey Venture Capital, highlighted that the program could bridge the gap between the Web3 industry and government initiatives, despite the current limitations. The BoI welcomes contributions from private, public, and academic entities, emphasizing originality and innovation in payment solutions.

This initiative is part of Israel’s broader commitment to modernizing its financial system and exploring the transformative potential of CBDCs. The digital shekel could introduce both universal and niche-specific payment solutions, aligning with global trends towards digital currencies and enhancing Israel’s economic infrastructure​​.

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BlackRock’s iShares Bitcoin Trust has become the world’s largest fund for the world’s largest cryptocurrency, racking up nearly $20 billion in total assets since listing in the U.S. in January, Bloomberg News reported on Wednesday.

The exchange-traded fund held $19.68 billion of token on Tuesday, overtaking Grayscale Bitcoin Trust’s $19.65 billion, according to the data compiled by Bloomberg. The third largest bitcoin ETF is the $11.1 billion offering from Fidelity Investments.

The BlackRock and Fidelity bitcoin ETFs were among nine that debuted on January 11th, the same day the more than decade-old Grayscale vehicle converted into an ETF. At that moment, Grayscale’s fund had about $29 billion in assets.

The iShares Bitcoin Trust has attracted the greatest inflow since going live, $16.5 billion, while investors have pulled $17.7 billion from the Grayscale fund over the same period.

The Securities and Exchange Commission, which is led by crypto skeptic Gary Gensler, had rejected spot bitcoin ETFs for more than a decade over market manipulation worries, but approved them in January after Grayscale Investments won a court challenge last year.

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The U.S. Securities and Exchange Commission (SEC) on approved applications from Nasdaq, CBOE and NYSE to list ethereum exchange-traded funds (ETFs).

They are not yet cleared to trade, though. The SEC gave its blessing to so-called 19b-4 forms tied to the ETFs, but the regulator must approve their S-1 filings before investors can buy them.

The SEC approved 19b-4 forms for the ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton.

Although the approval of the 19b-4 filings suggests that regulators are willing to allow issuers to bring a spot ether ETF on the market, it doesn’t guarantee that they will ultimately approve the final S-1 forms filed by all issuers.

“There is likely to be a gap before we see S-1 approvals and these ETFs begin trading. My guess is that this will take at least a week, but likely more. If history is any guide it could be much longer and be measured in months. But I personally think the gap will be measured in weeks. Everyone is just guessing right now though.” James Seyffart, ETF analyst at Bloomberg Intelligence, said.

The decision comes less than six months after the Securities and Exchange Commission approved bitcoin ETFs. Those funds have proven to be a big success for the industry.

“The introduction of spot bitcoin ETFs has already demonstrated significant benefits for the digital assets and ETF space, and we believe that spot ether ETFs will similarly provide safeguards for U.S. investors,” said Rob Marrocco, global head of ETP listings at Cboe Global Markets.

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