US senators tell athletes to avoid digital yuan, Chinese exchange volumes rebound … and more – Cointelegraph Magazine

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.   Olympic battle After months of writing about the relentless actions of the Chinese government, this week we lead with a story from the US Government. On July 19, three US senators signed a letter addressed to the to U.S. Olympic and Paralympic Committee, requesting US athletes not use the e-CNY in February’s Winter Olympic games in Beijing. The…

Stacks (STX) price rallies 195% after revealing plans to bring DeFi to Bitcoin

Ethereum (ETH) is currently the leader when it comes to smart contract capabilities and the sheer number of projects operating on its network, but the push to build products on Bitcoin (BTC) is gaining traction with advocates like Square CEO Jack Dorsey spearheading the effort to bring decentralized finance (DeFi) to the Bitcoin network.  One project aiming to combine the features of DeFi with the security of the Bitcoin network is Stacks (STX), a layer-one blockchain protocol designed to bring smart contracts and decentralized applications (dApps) to the Bitcoin network.…

Texas alleges that BlockFi is offering unregistered securities

The Texas State Securities Board has filed for a cease and desist order against crypto lending firm BlockFi for not offering a security licensed at the state or federal level. According to a Thursday filing, the state regulator will be holding a hearing related to allegations BlockFi is illegally funding its crypto lending operations and proprietary trading through the sale of unregistered securities. Should the judge accept that the platform’s accounts earning interest on crypto represent unlicensed securities, BlockFi may be subject to a cease and desist order. Should the…

Circle K convenience stores will host thousands of crypto ATMs

The largest Bitcoin ATM operator in the world has said it will be expanding into Circle K locations in the United States and Canada. Bitcoin Depot announced today that more than 700 of its Bitcoin ATM machines had already been installed at Circle K convenience stores in 30 U.S. states as part of the new partnership. The crypto ATM distributer said the expansion could provide underserved communities with financial access tools and attract more people to the crypto space.  “Over the last year, we have watched cryptocurrency gain mainstream adoption…

Reserve Bank of India mulls first steps toward an eventual CBDC

The Reserve Bank of India, or RBI, continues to investigate the issuance of a central bank digital currency, or CBDC. T Rabi Sankar, the deputy governor of RBI, said in a speech organized by the Vidhi Center for Legal Policy that private digital currencies could be part of what makes CBDCs ultimately necessary. He felt that the RBI’s development of it’s own CBDC could provide the public with many of the same uses as digital currencies such as Bitcoin, while limiting the average user’s exposure to volatility. He stated: “Indeed,…

3 reasons why traders think Bitcoin price bottomed at $29,500

Traders are showing a renewed sense of hope after Bitcoin (BTC) price held onto the $32,000 range for what could be the second day in a row.  Data from Cointelegraph Markets Pro and TradingView shows that bulls have managed to regroup at the $32,000 level where Bitcoin has hovered throughout the day but traders a patiently waiting for further confirmation that Bitcoin may be in the midst of a trend reversal before fully re-entering the market. BTC/USDT 1-day chart. Source: TradingView Here’s what analysts and investors expect next from Bitcoin…

Dogecoin Could Reach 8,000 New Merchants Through Coinbase Commerce

Share this article Cryptocurrency payment processor Coinbase Commerce has added Dogecoin (DOGE) to its list of supported altcoins. much payment. very commerce. 🐕 Just a quick blast to let you know we’re now accepting commerce payments in Dogecoin (DOGE)! — Coinbase Commerce (@CommerceCB) July 21, 2021 More Merchants Can Accept DOGE The new addition means that crypto holders will be able to spend Dogecoin at merchants that use the Coinbase Commerce plugin. Dogecoin creator Billy Markus commented on the addition: “This is a big deal. It’s integrated with Shopify meaning…

South Korea to take action against unregistered crypto exchanges

The South Korean government announced today that crypto exchanges will face punishment if they have not voluntarily registered with the country’s authorities by September 24. This new set of regulations will reportedly affect both exchanges based in South Korea and foreign exchanges that operate in Korean markets. According to the release, that includes any exchange where the Korean language is supported, marketing is geared toward Koreans, or payments can be made using the Korean won. Under the Specific Financial Information Act, the punishment for exchanges that continue to operate without…

Bitcoin traders watch $32K ahead of Friday’s $330M BTC options expiry

This Friday’s weekly Bitcoin (BTC) options expiry currently holds a $330 million open interest. Considering the recent struggle to regain the $32,000 support, this event is an important test of bulls’ willingness to display reversion signs. On July 21, Alameda Research announced that the company made Bitcoin purchases below $30,000, and Sam Trabucco, the firm’s quantitative trader, mentioned that the narrative for BTC could turn bullish because of the ongoing fear, uncertainty and doubt (FUD) caused by the China BTC mining ban, Grayscale GBTC unlock and recovery in stock markets.…

Lawsuit Claims Dfinity ICP Token is Unregistered Security

Key Takeaways California resident Daniel Ocampo has filed a new class action lawsuit against Dfinity alleging the firm violated the 1933 U.S. Securities Act. The plaintiff claims that Dfinity created ICP tokens out of thin air and sold them without filing appropriate registration. The complainant aims to seek compensation for the ICP investors the lawsuit represents for the financial damages they suffered. Share this article A group of ICP investors has filed a new class action lawsuit accusing Dfinity of selling unregistered securities. Class Action Lawsuit for Dfinity A new…