SEC Approves Bitcoin ETFs for Easier Access to Cryptocurrency
The U.S. Securities and Exchange Commission (SEC) has approved several Bitcoin exchange-traded funds (ETFs), allowing easier access to the cryptocurrency for investors. These ETFs will track the price of Bitcoin and trade on traditional stock exchanges, providing a regulated and familiar investment vehicle for those interested in the digital asset. The approval of these Bitcoin ETFs is seen as a significant step in the mainstream adoption of cryptocurrencies, potentially attracting more institutional and retail investors to the market. (CoinDesk)
Coins.ph Secures License in Australia for Crypto Services
Coins.ph has secured a digital currency exchange license from the Australian Transaction Reports and Analysis Centre (AUSTRAC). This license enables Coins.ph to provide cryptocurrency exchange and wallet services to customers in Australia, expanding its reach to a new market. The move signifies Coins.ph's commitment to regulatory compliance and its efforts to expand its services globally, tapping into the growing demand for cryptocurrency products and services. (BitPinas)
Ethereum Layer 2 Reaches All-Time High with $21.16B Total Value Locked
Ethereum's Layer 2 solutions have reached an all-time high total value locked (TVL) of $21.16 billion, indicating a significant surge in adoption. This milestone highlights the growing use of layer 2 scaling solutions to address Ethereum's scalability challenges and reduce transaction costs. The increasing TVL suggests that Ethereum users and developers are increasingly turning to layer 2 solutions to improve the network's performance and usability. (BeInCrypto)
Indian Government Issues Notice to Binance, KuCoin, and Others
The Indian government has issued notices to several cryptocurrency exchanges, including Binance and KuCoin, directing them to comply with local regulations. As a result of these notices, some of these exchanges have been removed from Apple's App Store, signaling potential regulatory challenges in India's cryptocurrency market. This development reflects the Indian government's increasing scrutiny of cryptocurrency exchanges and its efforts to ensure compliance with existing regulations. (CoinDesk)
In-Person Bitcoin Acceptance Triples in 2023
The number of in-person businesses accepting Bitcoin nearly tripled in 2023, according to a report from The Block. This significant increase reflects a growing trend of mainstream adoption and integration of Bitcoin into traditional retail settings. The data suggests that Bitcoin is increasingly being recognized as a viable form of payment by a broader range of businesses, indicating a positive shift in its utility as a medium of exchange. (The Block)
Ethereum Upgrade Schedule for Testnets Revealed
The Ethereum community has revealed the upgrade schedule for the upcoming network improvements, including the Berlin upgrade on the Ropsten testnet in February. This schedule provides a roadmap for the deployment of various Ethereum Improvement Proposals (EIPs) aimed at enhancing the network's functionality and scalability. The planned upgrades and their testing on the testnets indicate Ethereum's ongoing efforts to address its scalability challenges and improve the overall user experience. (BeInCrypto)
PIXELS Game Airdrop Announced: Here's How to Get Pixel Tokens
The PIXELS game has announced an airdrop of its native token, Pixel (PXL), to its community members. To participate, players need to complete certain tasks like following PIXELS on social media platforms, joining their Discord server, and playing the game. The airdrop aims to reward the community and increase engagement with the PIXELS ecosystem. (Decrypt)
Arbitrum Introduces Custom Gas Tokens with Orbit
Arbitrum, a layer 2 scaling solution for Ethereum, has introduced Orbit, a feature that allows users to create custom gas tokens. These custom gas tokens can be used to optimize transaction costs by locking gas at a specific price, potentially reducing fees for certain types of transactions on the Arbitrum network. The introduction of Orbit demonstrates Arbitrum's commitment to improving the efficiency and cost-effectiveness of transactions on its platform. (The Block)
Stablecoins as a Solution for the Current Lending Market
According to a recent analysis, stablecoins are positioned to address shortcomings in the current lending market. The report highlights stablecoins' stable value and seamless transferability as factors that could enhance the efficiency and reliability of lending systems. Utilizing stablecoins may lead to a more inclusive and robust lending market due to their reduced volatility and global accessibility. (CoinDesk)
PayPal's Stablecoin Powers Large Liquidity Pool on Curve
PayPal's stablecoin, which is part of its cryptocurrency services, has contributed to the formation of the third-largest liquidity pool on the Curve decentralized exchange (DEX). The liquidity pool, which is significant in size, indicates the growing participation of major financial players like PayPal in the decentralized finance (DeFi) space. This development highlights the increasing integration of traditional finance with DeFi and the potential for stablecoins to play a key role in this convergence. (CoinDesk)
