Tether, a stablecoin issuer, said that it will stop supporting Omni, a Bitcoin layer that has been used since 2014 for USDT payments.According to the release, Tether will also stop supporting the SLP implementations for Kusama (KSM) and Bitcoin Cash (BCH). The software layer Omni was constructed on top of the Bitcoin blockchain.It was created to provide smart contract functionality to the Bitcoin network, enhancing its benefits. “Over the years, the Omni Layer faced challenges due to the lack of popular tokens and the availability of USDT on other blockchains. This led many exchanges to favor alternative transport layers, leading to a decline in USDT usage on Bitcoin using the Omni Layer,” Tether said in the announcement. According to Tether’s transparency report, it has a market cap of $82 billion and has the largest stablecoin. Of that, $240 million worth of tokens were released on the Omni layer, while $1.4 million and $980,000 worth were issued on Kusama and Bitcoin Cash, respectively. Beginning on August 17, the stablecoin provider will stop releasing USDT on Omni, Kusama, and Bitcoin Cash; however, redemptions will still be accepted for the following 12 months.Tether currently trades at $0.998, down 0.12% in the last 24 hours, according to reports.

To expand its offering to registered investment advisors (RIAs), asset tokenization company Securitize has acquired digital asset wealth platform Onramp Invest.An email notification on Thursday stated that the acquisition is anticipated to close soon and that the specifics of the transaction were not made public.In order to incorporate Securitize goods into its current business, Onramp will operate as a subsidiary of Securitize. The goal of Securitize is to enable RIAs to provide tokenized investments to their clients in alternative asset classes like real estate, private equity, private credit, and secondaries. “Onramp already offered RIAs easy access to digital assets, so it is a very natural extension to offer them tokenized alternative assets to complement their portfolios,” Securitize CEO Carlos Domingo said in a statement. The acquisition may also be a hint of increased startup consolidation in these industries, as traditional markets and digital assets continue to be intertwined. “With technology valuations significantly down and VC investment drying up, there is now a new opportunity for companies

According to a notice posted on Wednesday, Dubai’s Virtual Assets Regulatory Authority (VARA) has fined OPNX, a cryptocurrency bankruptcy claims exchange, and its creators about $2.8 million. OPNX was already chastised by VARA back in May and was founded by Kyle Davies and Su Zhu, the founders of the disbanded hedge fund Three Arrows Capital

Nearly two years after submitting an application for authorization, cryptocurrency exchange Coinbase (COIN) is now able to list crypto futures in the United States. The National Futures Association (NFA) has granted Coinbase Financial Markets permission to operate as a Futures Commission Merchant (FCM), the company announced on Wednesday. FCMs play a similar role to market

Decenter reports that Bithumb Korea, the organisation that runs the virtual asset exchange Bithumb, suffered a large operational deficit in the second quarter of 2023. Bithumb Korea reported an operational loss of KRW 3.442 billion for the second quarter, according to the electronic disclosure system run by the Financial Supervisory Service on August 16. This

The makers of hardware wallets Ledger and PayPal have teamed together to enable customers to purchase cryptocurrency in Ledger Live using their PayPal accounts, the firms announced on Wednesday.Users of Ledger Live can deposit tokens straight into the hardware wallet and purchase cryptocurrency using fiat money.Users will be able to link their PayPal accounts without undergoing any further verification thanks to the integration of PayPal. “We’re combining the uncompromising security of Ledger with PayPal’s leadership in protected payments technology to help facilitate a seamless platform for user crypto transactions,” Ledger CEO Pascal Gaithier said in a statement. “Ledger is committed to simplifying the world of crypto and PayPal is committed to making the movement of money as simple, reliable

In relation to their inadequate audit of the music streaming startup Akazoo Limited, the U.S. Securities and Exchange Commission (SEC) has filed charges against Crowe U.K. LLP, a London-based auditing firm, its CEO Nigel Bostock, and its senior auditor Matthew Stallabrass. The parties concerned have consented to resolve the SEC’s allegations. According to the SEC’s

Management of cryptocurrency assets On the zkSync Era blockchain, De.Fi made its antivirus programme available. Users of the antivirus programme are shielded against common dangerous crypto attacks including phishing, flaws in smart contracts, blind signature, and others by the software. Over $300 million was lost by cryptocurrency traders in the last month alone as a

Nearly two years after it was initially approved, London-based Jacobi Asset Management has listed Europe’s first spot bitcoin exchange-traded fund (ETF) on Euronext Amsterdam.The Guernsey Financial Services Commission (GFSC) oversees the Jacobi FT Wilshere Bitcoin ETF, which will trade with the symbol “BCOIN.” According to a Tuesday announcement by Jacobi, Fidelity Digital Assets will be in charge of the fund’s custody, and Flow Traders will serve as the market maker. In October 2021, Jacobi received authorisation for the fund, with the intention of listing it the following year. Due to unfavorable conditions elsewhere in the market for digital assets, like the failure of the Terra ecosystem and the bankruptcy of crypto exchange FTX, the company decided to delay its ambitions. Exchange-traded products (ETPs), which is another name for exchange-traded notes (ETNs), are widely used in Europe, but Jacobi’s offering is the first ETF.ETN investors own a debt security, whereas ETF owners own a fraction of the product’s underlying shares. Unlike ETNs, according to Jacobi, its ETF cannot be leveraged or use derivatives. Despite dozens of petitions to the Securities and Exchange Commission (SEC) in the last few years that were all refused, the listing implies that Europe will see a spot bitcoin ETF traded before the U.S. However, after asset management behemoth BlackRock (BLK) spearheaded a rush of new applications incorporating “surveillance-sharing” agreements intended to prevent market manipulation, there has been renewed optimism that the regulator will authorize a spot bitcoin fund.

The main cryptocurrency exchange, Coinbase, officially announced that it would be extending its operations into the Canadian market. The addition of Interac payment rails, the collaboration with premier banking and payment partners, and the introduction of Coinbase One—a 30-day trial that offers Canadian users benefits not offered to users in other nations—all serve as markers

The SEI digital asset has been added to the KRW and BTC markets of Upbit, a well-known digital asset exchange. The announcement, which gives comprehensive details on the listing and related rules, was made on August 14, 2023. Only deposits made on the Sei network will be supported for SEI, the Sei network’s native token

Trading of cryptocurrenciesThrough a collaboration with regional financial services provider Peoples Trust Company, Coinbase announced on August 14 that it was expanding the range of services it provides to Canadian users.All of Coinbase’s users now have the option to deposit and withdraw money from their accounts using the Interac e-Transfer service.Since the app’s August introduction in Canada, this feature has reportedly received the most requests from users there.Canada’s attraction in the cryptocurrency market was discussed by Nana Murugesan, vice president of international and commercial development at Coinbase industry.“Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework.” The exchange also stated that it considers the Canadian market to be its next “Go Deep Market” and referenced a report from the Ontario Securities Commission that claimed more than 30% of Canadians planned to purchase cryptocurrencies this year.Following the exit of Binance and ByBit from Canada due to tighter rules from local authorities, Coinbase has entered the Canadian cryptocurrency market.Regulations dictated that bitcoin exchanges agree to a number of terms and conditions while their applications were still being reviewed. These regulations were issued by the Canadian Securities Administrators.In March, 11 exchanges, including Coinbase, reportedly agreed to the pre-clearance regulations. Coinbase’s entry into Canada comes as the exchange is still engaged in legal disputes with American lawmakers.The business filed a request for the U.S. Securities and Exchange Commission to drop its ongoing litigation on August 4.Despite the business’s legal issues in the United States, Coinbase CEO Brian Armstrong allegedly stated on August 4 that leaving the nation is “not even in the realm of possibility right now.”For a more crypto-friendly regulatory environment, though, Armstrong has also previously discussed moving Coinbase’s headquarters outside of the United States.

The world’s largest payments company, PayPal, recently introduced the stablecoin PayPal USD (PYUSD), which is pegged to the dollar. In an update to its terms and conditions, PayPal included a feature called Cryptocurrencies Hub that lets users store and deal with Bitcoin and other cryptocurrencies in their PayPal accounts. The most recent version of PayPal’s terms and conditions outlines the requirements for customers who want to utilize the network for cryptocurrency.The Cryptocurrencies Hub service, according to the business, will enable cryptocurrency sales and purchases.Additionally, it will make it easier for PayPal users to pay for goods with the proceeds from the sale of their The Cryptocurrencies Hub will also be crucial to convert between PYUSD and other crypto assets. PayPal further clarified,“Any balance in your Cryptocurrencies Hub represents your ownership of the amount of each Crypto Asset shown. You will not hold the digital Crypto Assets themselves in your Crypto Asset balance.” The new tool won’t be available to all PayPal customers, though, as the corporation will choose who has access to it.To begin with, a PayPal user must have “a personal PayPal account and a Balance Account in good standing” in order to be eligible for Cryptocurrencies Hub.PayPal will also confirm the necessary identifying information, which includes the users’ names, addresses, dates of birth, and taxpayer identification numbers. “You can only use

The Securities and Exchange Commission (SEC) of the United States has once more postponed making a judgement about the spot Bitcoin ETF that ARK Investment Management and 21Shares have proposed. The SEC said that it will “institute proceedings” to decide whether to approve or deny the Bitcoin ETF in a file made public on Friday

The reason for the transactions has sparked speculation in the wider crypto community. On August 11, according to Etherscan, bankrupt cryptocurrency lender Voyager Digital transferred 1,500 ether worth approximately $2.77 million and an additional 250 billion shiba inu worth approximately $2.7 million to cryptocurrency exchange Coinbase. Within the larger crypto community, curiosity has been sparked

In order to prevent stifling American innovation, Grayscale CEO Michael Sonnenshein emphasised the necessity for a well-balanced regulatory approach to cryptocurrencies. Michael Sonnenshein, CEO of Grayscale Investments, raised the possibility of a bad conclusion for the US economy if the Securities and Exchange Commission (SEC) continues to regulate the cryptocurrency market one by one. Sonnenshein

The government of Brazil is advancing legislation that will increase taxes on cryptocurrency kept abroad. Local news sources claim that a legislative committee has accepted changes to a measure that would classify cryptocurrencies as “financial assets” for the purposes of taxation when used in international investments. The proposed legislation also levies taxes on gains resulting

The world’s largest cryptocurrency exchange by trading volume and user base, Binance, and Liquid Inc., the company behind Japan’s well-known eKYC solution “LIQUID eKYC,” announced a strategic partnership on August 10, 2023. Binance Japan will be given access to Liquid’s LIQUID eKYC identity verification service during the first stage of this relationship. The service uses

Shiba Inu (SHIB), a cryptocurrency that focuses on memes, has seen a surge in investment while traders exercise caution with bitcoin (BTC). According to data provider Coinglass, open interest in SHIB futures offered by Binance has increased by more than a factor of two to $101.65 million this month, reaching its highest level since February