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Dubai Regulator DFSA Clears RLUSD Stablecoin As Ripple Targets Global Adoption

4 days ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysDubai’s financial regulator, DFSA, has approved Ripple’s RLUSD stablecoin for use in the DIFC. The approval reinforces RLUSD as a trusted, NYDFS-chartered enterprise-grade stablecoin. RLUSD can now be used in Ripple’s DFSA-licensed payments and by other DIFC firms.
Australia Tightens Crypto ATM Rules As Scams and Frauds Are Uncovered

4 days ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysReports indicate that Australians are losing millions of dollars each year to scams associated with cryptocurrency ATMs.Financial crime and money-laundering regulator AUSTRAC has announced new controls on crypto ATM operators, including AUD 5,000 transaction limits. The rapid growth of crypto ATMs has outpaced regulation, with the machines increasingly used for illicit purposes.
Farage Sets Out Trump-Style Crypto Foray That Could Make UK a Digital Asset Hub

1 week ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysBritish opposition leader says he will introduce a Donald Trump-style foray to try and woo young voters during the next election. Nigel Farage says that if elected, he will make cryptocurrency a priority and make the UK the world’s leading crypto hub. The UK is planning to amend its cryptocurrency law to align with the US rather than EU countries.
India's Supreme Court Calls Out Government For Failing To Regulate Crypto Trading

2 weeks ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysIndia’s Supreme Court wants the central government to regulate crypto trading in the country, saying it’s long overdue. The apex Court questioned the government’s failure to regulate cryptocurrencies despite taxing them. Regulatory bodies are still divided on the legality or otherwise of cryptocurrency trade in the country.
Arthur Hayes Sees Bitcoin at $1 Million Before 2028, Urges Europe ‘Get Your Money Out’

3 weeks ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysBitMex co-founder Arthur Hayes believes Bitcoin could hit $1 million within three years. Hayes highlights that Treasuries have lost 84% of their value in Bitcoin since 2021, signaling long-term fiat decay. Arthur Hayes positions Bitcoin as a hedge against capital restrictions and inflation amid the unraveling of Pax Americana’s financial structure.
Ukraine Partnering with Binance To Potentially Create Europe’s First Strategic Bitcoin Reserve

3 weeks ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysUkraine legislators are drafting a law that could make it the first European country to have a Strategic Bitcoin Reserve. The SBR initiative will be developed in partnership with Binance but is awaiting legislative consideration. The move will place Ukraine in an emerging global trend where Bitcoin is becoming a national financial tool. Plans to create a Strategic Bitcoin Reserve in Ukraine are in high gear, and the country could become the first in Europe to move in that direction.
Thailand Launches $150M Government-Backed Crypto Investment Token to Raise Public Funds

3 weeks ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysThailand’s Finance Minister announced the government will issue a “digital investment token” in the next two months. The $150 million token will allow investors to earn a higher return than they would on bank deposits. Thailand joins a growing list of countries experimenting with blockchain and cryptocurrency for their financial products.
Crypto Experts on X Divided On The Impact Of Internet Capital Market Tokens

3 weeks ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysInternet capital market (ICM) tokens are changing business investment by letting users buy tokens tied to app concepts, offering a decentralized alternative to traditional equity. The ICM sector has exploded with over 7,600 tokens launched on the Believe App as critics question their long-term value. There is fear that concerns about sustainability and legal complexities surrounding the project could hinder its widespread adoption.
The Number of Bitcoin Millionaires Explodes to Nearly 40,000 in One Month

3 weeks ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysThe “Bitcoin Millionaire Club” received an additional 40,000 new entrants in May as BTC’s price shot beyond the $100K mark. The number of millionaire crypto wallets has risen from 137,157 to 176,525 in 30 days. The Bitcoin millionaire increase surpassed January highs, signaling a sentiment shift beyond price movement alone. For good reasons, Bitcoin, the flagship cryptocurrency, is again making headlines.
Dubai Becomes First Government To Accept Crypto Payments In Bid To Become Cashless

3 weeks ago | usethebitcoin.com | Tom Nyarunda

Key TakeawaysDubai has pioneered national crypto adoption by becoming the first government to facilitate blockchain payment for services. The Dubai government aims to use a stablecoin to achieve 90% cashless transactions by 2026. The program to accept crypto payment for government services will be powered by crypto.com, which handles digital payments in all public sectors. Dubai’s government will now accept crypto to pay for government services across departments within the public sector.