Cryptocurrency trading volume declined in August to the lowest level of the year, another sign of waning investor interest since the collapse of digital asset prices from all-time highs in late 2021. The combined monthly volume of so-called spot and derivatives trading fell 11.5% to $2.09 trillion, and was the Read more…
The U.S. Court of Appeals for the D.C. Circuit has paved the way for bitcoin exchange-traded funds. From a report: On Tuesday, the court sided with Grayscale in a lawsuit against the Securities and Exchange Commission which had denied the company’s application to convert the Grayscale Bitcoin Trust to an Read more…
Cryptocurrency assets have amplified rather than reduced financial risks in less developed economies, and regulators will need to treat them in the same way they oversee other assets, some of the world’s most powerful central banks have warned. Novel solutions to payments challenges should not be classified as ‘dangerous’ simply Read more…
Brazil’s central bank has named its upcoming digital currency “DREX,” which it aims to use to boost financial services. DREX is scheduled to launch next year. The DREX will use distributed ledger technology (DLT) to settle wholesale interbank transactions, while retail access will be based on tokenized bank deposits. Officials Read more…
PayPal has launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. PayPal’s announcement, which lifted its shares 2.66% on Monday, reflects a show of confidence in the troubled cryptocurrency industry that has over the last 12 months grappled with Read more…
Silicon Valley-based payments firm PayPal announced it is launching a U.S. dollar stablecoin in conjunction with Paxos. The new digital token will be pegged to the dollar and “gradually” made available to PayPal’s customers in the U.S., PayPal said in a press release. Paxos will issue the coin labeled PayPal Read more…
A key congressional committee on Wednesday advanced a bipartisan bill that aims to develop a regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry. The bill passed by the House Financial Services Committee would define when a cryptocurrency Read more…