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China’s crypto ban sends flocking traders to DEFI
China last friday repetition Total ban on digital asset transactions — one of many government-issued regulatory measures on the industry in recent years. However, the details of the announcement suggest that this measure may be more stringent. More than 10 government agencies and agencies have co-signed the Edict, closing the loopholes left in previous crackdowns on the sector. A few cryptocurrency service providers, including the exchanges Binance and Huobi and the mining pool service StarkPool, have restricted access to Chinese users and shut down operations.
Traders react quickly, decentralized exchanges (DEX), markets operating without intermediaries, and Promotion Increase tokens associated with Uniswap, SushiSwap, Curve, etc. by 20% or more, Outperforms the heavy lifters, Bitcoin and Ethereum on the market. Sunday, Derivatives DEX dYdX Registered Coinbase’s daily trading volume of over $ 3.7 billion and over $ 4.3 billion. Analysts now speculate that the latest ban could provide further boost to the decentralized financial industry.
Cross-chain payment hub, visa courtesy
Multiple crypto partnerships and historic NFT purchase, Visa has established itself as one of the largest corporate supporters in the industry. But I’m not going to stop there. Payment processor on Thursday Overview Plans for the so-called “Universal Payment Channel” (UPC), which interconnects multiple blockchain networks that facilitate transactions between various stablecoins and the Central Bank Digital Currency (CBDC). Catherine Gu, Visa’s Global CBDC Product Leader, said: Although the project is still in its infancy, Visa shared a sample of the project’s basic smart contracts with research papers and policy guidance on the impact of research for central banks and regulators.
The announcement was no longer timely. Regulators around the world are increasingly paying attention to CBDC and stablecoin..In the United States, the Treasury-anchored presidential working group on financial markets and the Federal Reserve System Be expected We will release a report on the role of stablecoin in the economy in the coming weeks.
BLOCK CHAIN 50 call for 2022 nominations
In the first three years of Forbes Blockchain 50, the list of $ 1 billion companies that are making significant use of the technology popularized by Bitcoin has ushered in institutional adoption. This list sheds light on large companies, often common names like Wal-Mart.
Federal Reserve Board Chairman Jerome Powell: US has no plans to ban Bitcoin and crypto [Bitcoin Magazine]
Senator demands financial investigation into mining under new bill [The Block]
Ripple launches $ 250 million to become an NFT creator [Bloomberg]