Hey crypto enthusiasts! Big news is shaking up the institutional digital asset space. We’ve just learned that Anchorage Digital , a leading platform and infrastructure provider for digital assets, has agreed to acquire Mountain Protocol , a prominent issuer in the stablecoin market. This isn’t just another headline; it’s a strategic move that could significantly impact how institutions engage with stablecoins. Why This Anchorage Digital Move Matters According to a report by CoinDesk, Anchorage Digital CEO Nathan McCauley highlighted this acquisition as a key step to solidify Anchorage Digital’s position within the institutional stablecoin ecosystem. Think about it: combining robust digital asset infrastructure with specialized stablecoin issuance technology creates a powerful synergy. McCauley emphasized that the plan involves integrating Mountain Protocol’s technology, personnel, and crucially, its licensing structure, directly into Anchorage’s existing operations. This suggests a deep integration aimed at leveraging Mountain’s expertise and regulatory standing to enhance Anchorage’s offerings for its institutional clientele. Who Are Anchorage Digital and Mountain Protocol? To fully grasp the significance of this crypto acquisition , let’s briefly look at the players involved: Anchorage Digital: Known for being the first federally chartered digital asset bank in the U.S., Anchorage provides secure custody, trading, financing, and infrastructure services tailored for institutional investors. They are a regulated entity operating within the traditional financial framework, making them a trusted partner for institutions exploring digital assets. Mountain Protocol: Specializes in issuing yield-bearing stablecoins. Their flagship product, USDM, is a stablecoin designed to provide holders with yield generated from underlying U.S. Treasury assets. This focus on yield and regulatory compliance makes them particularly attractive to institutional players seeking stable, interest-generating digital assets. This pairing brings together Anchorage’s broad infrastructure and regulatory experience with Mountain Protocol’s specific expertise in compliant, yield-generating stablecoin issuance. What Does This Mean for Institutional Crypto? The convergence of traditional finance and digital assets is accelerating, and institutional crypto adoption is a major driver. This acquisition speaks directly to the growing demand from institutions for reliable, regulated ways to interact with stablecoins. Here’s a breakdown of potential implications: Benefits of the Acquisition: Enhanced Stablecoin Offering: Anchorage can immediately offer Mountain Protocol’s yield-bearing stablecoin (USDM) to its institutional clients, adding a valuable product to its suite. Regulatory Synergy: Integrating Mountain’s licensing and compliance frameworks can strengthen Anchorage’s overall regulatory posture and streamline the process for institutions. Technological Integration: Combining Mountain’s stablecoin technology with Anchorage’s infrastructure can lead to more efficient, secure, and scalable stablecoin services. Market Position: This move positions Anchorage Digital as a more comprehensive provider in the institutional stablecoin market, potentially attracting new clients seeking integrated services. Talent Acquisition: Bringing Mountain’s team onboard adds specialized expertise in stablecoin development, issuance, and compliance to Anchorage. Potential Challenges: Integration Hurdles: Merging technologies, teams, and regulatory processes from two different companies can be complex and time-consuming. Regulatory Evolution: The stablecoin regulatory landscape is constantly evolving, and both companies will need to navigate this dynamic environment post-acquisition. Market Competition: The stablecoin market is competitive, with various issuers vying for institutional attention. Anchorage will need to differentiate its offering effectively. Actionable Insights for the Reader So, what should you take away from this Anchorage Digital acquisition? For institutions already working with Anchorage, expect potentially new and enhanced stablecoin services soon. For those considering entering the institutional crypto space, this acquisition signals a maturation of the market, with regulated entities building more comprehensive offerings. Keep an eye on how the integration unfolds and how the combined entity positions itself in the competitive stablecoin market. The focus on yield-bearing, regulated stablecoins like USDM highlights a key trend in institutional demand. The Future of Institutional Stablecoins This crypto acquisition is a clear indicator of the increasing importance of stablecoins within the institutional digital asset strategy. Institutions are looking for stability, yield, and regulatory clarity – precisely what a combined Anchorage Digital and Mountain Protocol aim to provide. As the market matures, expect more consolidation and strategic partnerships aimed at building comprehensive, compliant ecosystems for institutional participants. In conclusion, Anchorage Digital’s move to acquire Mountain Protocol is a significant development that strengthens its foothold in the institutional stablecoin arena. By integrating Mountain’s specialized technology, talent, and licensing, Anchorage is better positioned to serve the growing demand from institutions for regulated, yield-generating stablecoin solutions. This strategic step underscores the ongoing evolution and professionalization of the digital asset market for sophisticated investors. To learn more about the latest institutional crypto trends, explore our articles on key developments shaping the stablecoin ecosystem .
Gold interest rises amid market uncertainties, says Jeffrey Gundlach. Gold has seen a 102% price increase since November 2022. Continue Reading: Gold Prices Skyrocket: Discover Jeffrey Gundlach’s Bold Forecast The post Gold Prices Skyrocket: Discover Jeffrey Gundlach’s Bold Forecast appeared first on COINTURK NEWS .
Decentralized finance (DeFi) protocol Curve Finance has warned that a hacker has again hijacked its domain name system (DNS), sending users to a malicious website. In the second attack on its infrastructure in a week, the “curve.fi DNS might be hijacked. Don’t interact!” the team said in a May 12 warning to X. In a follow-up post to a user asking whether it was a hack or a hijack , the Curve Team said the website “Points to the wrong IP” when users try to visit. A DNS works like a directory that translates domain names into IP addresses. Source: Curve Finance The team also said in another update that the “Password is secure,” its two-factor authentication was set up a “long time ago,” and a question has been sent to the “registrar now.” ”While all smart contracts are safe, the domain name points to a malicious site which can drain your wallet! We are investigating and working on recovering the access. No sign of a compromise on our side,” Curve said . Curve Finance was hit with a similar front end attack in August 2022 . In a post-mortem, the consensus was that the attackers managed to clone the Curve Finance website and reroute the DNS server to the fake page. Users who attempted to use the platform had their funds drained into a pool operated by the attackers. Cointelegraph has contacted Curve Finance for comment. Curve Finance potential front-end attack Onchain security firm Blockaid also detected unusual activity from the Curve website recently, warning users to stay away and avoid interacting for now. It could be a case of a “potential frontend attack,” according to the security firm, which is when hackers target the part of the website users interact with, such as the buttons, forms, or text on the site, to steal sensitive data. Source: Blockaid “If you’re connected, please refrain from signing transactions and avoid interactions with the DApp until the issue is resolved. We’re working closely with affected partners. More updates soon,” Blockaid said. Related: Crypto hackers hit DeFi for $92M in April as attacks double from March Second attack in a week This is the second time Curve Finance has been targeted in the last week. On May 5, a hacker took over the official X handle. “To clarify: the incident was limited strictly to the X account. No other Curve accounts were affected. No security issues were found on our side, no user funds were impacted, and there were no victims of phishing links that the hacker posted,” the team said in a follow-up May 6 post. Source: Curve Finance Access to the Curve Finance X account was restored quickly, and the cause is still under investigation. A slew of other high-profile X accounts have also been taken over by bad actors this year . On May 2, the Tron DAO account was hijacked; meanwhile, on April 15, a member of the UK’s Parliament, Lucy Powell, had her account taken over to promote a scam crypto token called the House of Commons Coin (HOC). Magazine: Financial nihilism in crypto is over — It’s time to dream big again
As optimism grows in the crypto market, attention turns to promising memecoins like PEPE , WIF , and SPX6900 . Investors and enthusiasts are keen to discover if these digital assets will lead the next big rally. This article delves into whether these memecoins have what it takes to ignite widespread enthusiasm and growth. PEPE Price Surge Hints at Short-Term Bullish Energy Pepe 's price climbed sharply over the last month with a 106.12% increase and a steep 77.04% weekly jump. The half-year change of 1.14% shows an extended period of subdued movement. Recent gains suggest that traders have reacted strongly in the short term, pointing to an emerging burst of interest after a period of quiet market activity. Current levels mark resistance near $0.00001 and a secondary push toward $0.00002, with support clearly seen at $0.000004. An RSI reading of 84.40 indicates that bullish momentum is intense, though conditions are stretched. Traders may look for opportunities to buy on dips within support while testing resistance cautiously, as the trend remains narrow and uneven despite recent surges. Dogwifhat's Rollercoaster: Short-Term Surge Meets Long-Term Decline WIF recent performance shows a near 200% monthly increase alongside a weekly jump of over 114%, while a six-month period witnessed a steep decline of about 63%. The price history reveals dramatic short-term rallies that contrast with longer-term downward pressure, highlighting significant volatility. Current trading sees prices moving between $0.39 and $0.80, with immediate resistance at $0.97 and a second resistance at $1.38, and firm support near $0.14. Bulls drive the surge, yet an RSI of 83 suggests overbought conditions. Lacking a clear trend, traders might consider cautious long entries near support and profit-taking near resistance. SPX6900 Experiences Significant Price Growth and Key Levels The past month marked a dramatic 69% surge, alongside a notable one-week increase of 62%. Over the last six months, a gain of 16% indicates a steady uptrend. Price movements have fluctuated between $0.41 and $0.68, showcasing significant volatility that has kept traders engaged and active in the market. Currently, SPX prices encounter resistance at $0.81 and a secondary level at $1.08, with support firmly established at $0.25. A high RSI nearing 73 and positive momentum suggest bullish pressure, though caution remains essential. Traders might look to enter near support while monitoring for pullbacks around resistance levels to capture potential short-term profit opportunities. Conclusion As market confidence grows, attention turns to PEPE , WIF , and SPX6900 . These coins have shown potential for driving a new rally. Each has distinct features that appeal to different investor groups. PEPE captivates with its playful theme, WIF attracts through its innovative approach, and SPX6900 offers unique incentives. Their combined momentum could fuel the next big surge in interest and activity. This sets the stage for a possible new phase of growth. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
For years, the cryptocurrency industry in the United States has grappled with a regulatory landscape often described as uncertain, confusing, and primarily driven by enforcement actions rather than clear rules. This environment has created significant challenges for businesses and investors alike, stifling innovation and driving some activity offshore. However, a potentially transformative shift in the US crypto policy might be on the horizon, signaled by none other than SEC Chair Paul Atkins. Understanding the Shift in SEC Crypto Regulation In a significant announcement, SEC Chair Paul Atkins outlined a proposed new direction for the commission’s approach to digital assets. The core of this shift involves moving away from what has often been perceived as an ‘enforcement-first’ strategy towards a more predictable and transparent rule-based framework. This is a pivotal moment for SEC crypto regulation , suggesting a potential end to the era of ‘regulation by enforcement’ that has drawn considerable criticism from the industry and legal experts. The previous approach, while intended to protect investors, often left market participants guessing about how existing securities laws applied to novel digital asset structures. Companies frequently found themselves targeted by SEC enforcement actions without clear, pre-existing guidance on how to comply. This created a climate of fear and uncertainty, making it difficult for legitimate businesses to operate and innovate within the U.S. Chair Atkins’ comments, as reported by The Block, indicate a clear recognition of these issues and a commitment to addressing them head-on. The proposed rule-based approach aims to provide the clarity that the digital asset space desperately needs to mature and thrive under appropriate oversight. What Did Paul Atkins SEC Announcement Detail? Paul Atkins’ statement laid out several key areas where the SEC plans to implement changes and provide updated guidance. His remarks were critical of the past tactics employed by the commission, acknowledging the need for a more constructive engagement with the industry. Key points from his announcement include: Moving Away from Ad Hoc Enforcement: A clear intention to reduce reliance on enforcement actions as the primary method of regulation. This doesn’t mean an end to enforcement against bad actors, but rather a focus on establishing rules first. Criticism of Past Tactics: Explicit acknowledgment that the previous approach has been problematic and has not served the goal of fostering a well-regulated, innovative market effectively. Updating Guidance on Securities Classification: Providing clearer criteria and processes for determining whether a digital asset constitutes a security under U.S. law. This is perhaps one of the most contentious and uncertain areas currently. Reviewing and Updating Custody Rules: Addressing how digital assets should be held and managed by regulated entities, an area crucial for institutional adoption and investor protection. Revising Broker-Dealer Rules: Adapting existing rules for broker-dealers to accommodate the unique nature of digital assets and the technologies underpinning them. Supporting Innovation: A stated goal to support technological innovation within the digital asset space while simultaneously establishing clear standards. This comprehensive list touches upon the most pressing regulatory pain points identified by the crypto industry. By committing to update guidance in these specific areas, the Paul Atkins SEC seems to be signaling a genuine effort to build a regulatory framework that is both protective and pragmatic. Why is Crypto Regulatory Clarity So Crucial? The lack of clear rules has been a significant impediment to the growth and mainstream adoption of digital assets in the U.S. Without predictable regulations, businesses face immense legal and operational risks. Investors, both retail and institutional, are hesitant to engage fully in a market where the rules of the game are constantly shifting or unclear. Crypto regulatory clarity is essential for several reasons: Fostering Innovation: When companies understand the rules, they can design products and services that comply, encouraging investment and development within the U.S. Investor Protection: Clear rules provide a predictable environment, reducing opportunities for fraud and manipulation and ensuring investors understand the risks and legal protections available to them. Institutional Adoption: Large financial institutions require regulatory certainty before committing significant capital to the digital asset space. Clear rules can unlock substantial institutional investment. Market Integrity: Defined standards for trading, custody, and market surveillance contribute to a more stable and trustworthy market. Competitiveness: Without clarity, the U.S. risks falling behind other jurisdictions that have established more welcoming regulatory frameworks for digital assets. Chair Atkins’ focus on providing this clarity through a rule-based approach directly addresses these critical needs. It suggests a potential path forward where the U.S. can harness the benefits of digital asset technology while mitigating the associated risks effectively. What Does a Rule-Based Approach to Digital Asset Rules Look Like? A rule-based approach means the SEC would proactively propose, solicit public comment on, and finalize specific regulations tailored to digital assets. This contrasts with the enforcement-first model, where the SEC primarily uses enforcement actions against companies or individuals to signal its interpretation of how existing laws apply. Under a rule-based system for digital asset rules , we might expect to see: Specific Rule Proposals: The SEC would publish detailed proposed rules outlining how digital assets should be treated under securities laws, what disclosures are required, how trading platforms should operate, and how custody should be handled. Public Comment Periods: The industry, legal experts, and the public would have formal opportunities to provide feedback on proposed rules, allowing for a more collaborative and informed regulatory process. Finalized Regulations: Based on comments and further consideration, the SEC would issue final rules that provide clear, legally binding standards for market participants. Guidance and Frameworks: Alongside rules, the SEC might issue interpretive guidance documents or frameworks to help the industry understand how to comply. This process is more transparent and predictable than relying on enforcement actions, which can be costly, time-consuming, and provide clarity only after a potential violation has occurred. Implementing comprehensive digital asset rules through this process would represent a monumental shift in the SEC’s engagement with the crypto sector. Challenges and Opportunities for US Crypto Policy While the prospect of a rule-based approach is largely welcomed by the industry, the path forward is not without its challenges. Crafting effective regulations for rapidly evolving technology is complex. The devil will be in the details of the actual rules proposed. Potential challenges include: Pace of Rulemaking: The traditional rulemaking process can be slow, potentially lagging behind the rapid development of the digital asset space. Content of Rules: The effectiveness of the shift depends entirely on whether the resulting rules are pragmatic, well-informed, and appropriately tailored to digital assets. Overly strict or poorly designed rules could still stifle innovation. Jurisdictional Issues: Digital assets often blur lines between different regulatory bodies (SEC, CFTC, FinCEN, etc.), requiring coordination across agencies. Political and Internal Dynamics: Shifting the approach requires consensus and commitment within the SEC and potentially navigating political pressures. Despite these challenges, the opportunity presented by this potential change in US crypto policy is immense. A clear, functional regulatory framework could position the United States as a leader in the digital asset space, attracting investment, fostering job creation, and ensuring robust investor protection within a predictable legal environment. Actionable Insights: What Should You Do Now? For businesses and investors in the digital asset space, Chair Atkins’ announcement is a signal to stay engaged and prepared. While specific rules have not yet been proposed, the intention is clear. Monitor SEC Announcements: Pay close attention to official SEC statements, proposed rules, and requests for comment. Engage with the Process: If possible, participate in public comment periods on proposed rules. Industry input is crucial for developing effective regulations. Seek Legal Counsel: Continue to consult with legal experts familiar with digital asset law to understand current requirements and prepare for potential future rules. Educate Yourself: Stay informed about the nuances of securities law as it may apply to digital assets and the potential implications of different regulatory approaches. This shift, if successfully implemented, could fundamentally alter the landscape for digital assets in the U.S., moving towards a future where innovation and regulation coexist more harmoniously. Conclusion: A New Dawn for U.S. Crypto Regulation? SEC Chair Paul Atkins’ announcement marks a potentially transformative moment for SEC crypto regulation . By advocating for a move away from ad hoc enforcement towards a clear, rule-based framework, the commission signals a willingness to address the long-standing calls for regulatory clarity in the digital asset space. While the details of future digital asset rules are yet to be seen, the commitment to providing updated guidance on crucial issues like securities classification, custody, and broker-dealer rules offers a glimmer of hope for a more predictable and supportive regulatory environment for US crypto policy . This shift, if executed effectively, has the potential to unlock significant innovation and investment, ultimately benefiting both the industry and investors by establishing clear, understandable standards for participation in the digital asset market. The journey towards comprehensive crypto regulatory clarity is far from over, but Chair Atkins’ statement suggests the SEC may finally be ready to take a different, more constructive path forward. To learn more about the latest crypto regulatory clarity trends, explore our article on key developments shaping US crypto policy moving forward .
Ahead of the premier NYC Crypto Summit, Adams calls for smart regulation and public-private collaboration.
Solana leads all blockchains in decentralized exchange (DEX) trading volume over the past week, with weekly DEX volume surpassing $22 billion and reaching $22.39 billion, according to multiple reports. Solana's DEX volume is at a nine-week high. The total value locked (TVL) in Solana's decentralized finance (DeFi) sector stands at approximately $9.44 billion, a level last seen in February. Most of the gains reflect the return of SOL price above $170, with SOL trading at around $172.88, following inflows from large investors and record DEX trading activity. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Get ready for a significant leap forward in how you interact with government services in one of the world’s most forward-thinking cities! The news is official: Crypto.com has joined forces with Dubai Finance (DOF) to enable cryptocurrency payments for public service fees. This isn’t just a technical integration; it’s a bold statement about Dubai’s commitment to embracing the future of finance and solidifying its position as a global hub for innovation and the digital economy. For anyone interested in the intersection of blockchain technology, government services, and major financial centers, the Crypto.com Dubai partnership is a game-changer. What Does the Crypto.com Dubai Partnership Entail? At its core, this collaboration is about making everyday interactions with government services more accessible and aligned with the evolving digital landscape. The partnership, announced via Dubai government media, leverages Crypto.com’s robust payment infrastructure to facilitate transactions using various cryptocurrencies. This means that residents, tourists, and businesses in Dubai holding supported digital assets will soon have the option to pay for a range of public services without needing to convert their crypto into traditional fiat currency beforehand for these specific payments. The key players are clear: Crypto.com: A major global cryptocurrency platform known for its exchange, wallet, and payment solutions. They bring the technical expertise and infrastructure to process crypto transactions securely and efficiently. Dubai Finance (DOF): The government entity responsible for managing Dubai’s financial affairs, including the collection of public revenues. Their involvement is crucial for integrating crypto payment options into the official payment systems. This isn’t merely an experiment; it signifies a strategic move by Dubai to integrate digital currencies into its operational framework, reflecting a broader vision for a cashless and digitally-driven economy. The focus is on providing convenience and choice while maintaining the necessary financial controls and transparency required for government transactions. Enabling Dubai Crypto Payments: A Step Towards Digital Maturity The ability to make Dubai crypto payments for public services marks a significant milestone. Historically, government payments have been one of the last frontiers for digital transformation, often relying on traditional banking systems or physical cash. By opening the door to cryptocurrency, Dubai is not only catering to the growing number of individuals and entities that hold digital assets but also streamlining payment processes. Consider the potential benefits: Increased Convenience: For crypto holders, paying directly in crypto eliminates the steps and potential fees associated with converting crypto to fiat. Efficiency: Digital payments, including crypto, can often be processed faster than traditional methods, potentially reducing administrative delays. Attracting Innovation: Offering crypto payment options reinforces Dubai’s image as a tech-friendly city, potentially attracting more blockchain companies and talent. Transparency (for some): While the end-to-end transparency of public finance is complex, the nature of blockchain transactions can offer a verifiable record of payment initiation. This move aligns perfectly with Dubai’s broader digital transformation agenda, which aims to make government services seamless, smart, and user-centric. Integrating Dubai crypto payments is a logical extension of this vision, pushing the boundaries of how citizens and businesses interact with public administration. The Vision Behind Crypto Adoption Dubai Dubai hasn’t been shy about its ambitions in the digital asset space. The emirate has actively sought to become a global leader in blockchain and cryptocurrency. This includes establishing regulatory bodies like the Virtual Assets Regulatory Authority (VARA) and creating special economic zones designed to attract crypto businesses. The crypto adoption Dubai strategy is multi-faceted, aiming to foster innovation, create jobs, and diversify the economy. Allowing crypto payments public services is a tangible outcome of this strategy. It demonstrates that the government is not just regulating the space but is also willing to adopt the technology itself. This sends a strong signal to the global crypto community that Dubai is serious about integrating digital assets into its financial ecosystem at a fundamental level. Key aspects of Dubai’s crypto vision include: Area Dubai’s Approach Regulation Developing clear frameworks (e.g., VARA) to provide certainty for businesses and investors. Infrastructure Encouraging the establishment of crypto exchanges, custodians, and service providers. Adoption Exploring use cases in real estate, tourism, and now, public services. Talent Attracting skilled professionals and entrepreneurs in the blockchain space. This partnership with Crypto.com is a concrete example of how Dubai is putting its vision for crypto adoption Dubai into practice, moving beyond theoretical discussions to practical implementation that impacts everyday life and business. How Will Crypto Payments Public Services Work in Practice? While the full technical details of the implementation are still emerging, the partnership suggests a streamlined process. Users are likely to interact with the existing government service portals or payment systems, where a new option for cryptocurrency payment will be presented. Upon selecting this option, they would likely be directed to a Crypto.com payment gateway or interface. Here’s a simplified potential flow: User accesses a Dubai government service portal to pay a fee (e.g., for a license renewal, utility bill, or fine). At the payment stage, the user selects ‘Pay with Cryptocurrency’. The system calculates the equivalent value of the fee in supported cryptocurrencies at the current exchange rate. The user is directed to a Crypto.com payment interface, possibly scanning a QR code or confirming via their Crypto.com app or wallet. The transaction is processed on the blockchain via Crypto.com’s infrastructure. Confirmation is sent back to the government portal, and the payment is registered. The specific cryptocurrencies supported will depend on the agreement and technical integration, but major ones like Bitcoin (BTC), Ethereum (ETH), and Crypto.com Coin (CRO) are likely candidates. The partnership aims to make crypto payments public services as smooth and intuitive as possible, minimizing complexity for the end-user while ensuring the government receives the correct value in fiat or a stable equivalent. The Critical Role of the Dubai Finance Partnership The involvement of Dubai Finance partnership is absolutely critical to the success of this initiative. DOF is the custodian of the government’s financial systems and revenue collection. Integrating a novel payment method like cryptocurrency requires careful planning, technical integration, and adherence to financial regulations and reporting standards. DOF’s role likely includes: Defining which public services will accept crypto payments initially. Ensuring the correct calculation and reconciliation of crypto payments against fiat fee amounts. Managing the conversion of received crypto into fiat, if required, or holding it according to government policy. Integrating Crypto.com’s payment gateway securely into existing government financial infrastructure. Establishing accounting and reporting procedures for crypto transactions. This Dubai Finance partnership signifies government-level endorsement and integration, moving beyond private sector acceptance to official state-level adoption. It highlights the government’s trust in Crypto.com’s ability to handle these transactions reliably and compliantly within the regulatory framework VARA provides. Challenges and Considerations While the potential benefits are significant, implementing crypto payments public services is not without its challenges: Volatility: The fluctuating nature of cryptocurrency prices requires robust mechanisms to ensure the government receives the correct fiat value at the time of the transaction. This is typically handled by the payment processor (Crypto.com) guaranteeing an exchange rate for a short window. User Education: Not everyone is familiar with using cryptocurrency. Clear instructions and support will be necessary to ensure broad accessibility. Regulatory Evolution: While Dubai has a framework, the global regulatory landscape for crypto is still developing, which could influence future policies. Technical Integration: Merging new payment systems with legacy government infrastructure can be complex. Security: Ensuring the security of transactions and user data is paramount. Addressing these challenges will be key to the successful and widespread adoption of this new payment option. The Crypto.com Dubai partnership will need to navigate these complexities carefully to build user trust and ensure seamless operation. Actionable Insights for Residents and Businesses For those in Dubai or planning to interact with its public services, this partnership presents new possibilities: Stay Informed: Keep an eye on official announcements from Dubai government channels and Crypto.com regarding which specific services will accept crypto payments and when the service goes live. Understand the Process: Familiarize yourself with how crypto payments via Crypto.com work to be ready when the option becomes available. Consider the Benefits: If you hold supported cryptocurrencies, evaluate whether paying public service fees directly offers convenience or other advantages for you. Watch the Trend: This move could pave the way for more businesses and services in Dubai to accept crypto, further boosting crypto adoption Dubai . This development isn’t just news; it’s a practical change that could affect how you handle everyday financial tasks in Dubai. Being prepared and understanding the implications is worthwhile. Conclusion: A Bold Step for Dubai and Crypto The partnership between Crypto.com and Dubai Finance to enable crypto payments public services is a landmark development. It’s a clear demonstration of Dubai’s proactive approach to integrating digital assets into its core financial infrastructure and executing its vision for crypto adoption Dubai . By facilitating Dubai crypto payments for essential services, the emirate is not only enhancing convenience for its tech-savvy population but also setting a precedent for other global cities. This Dubai Finance partnership with a major player like Crypto.com highlights the increasing maturity and real-world utility of cryptocurrencies. While challenges remain, the commitment shown by Dubai’s government is a powerful signal of the growing acceptance and integration of digital assets into the mainstream economy. This is a pivotal moment, showcasing how innovative collaborations can push the boundaries of traditional finance and pave the way for a more digitally integrated future. To learn more about the latest crypto market trends, explore our article on key developments shaping crypto adoption globally and in financial hubs like Dubai.
The post Litecoin Price Analysis and Short-Term Prediction appeared first on Coinpedia Fintech News The Litecoin network has attracted significant attention from institutional investors globally in the recent past. LTC price has approached the final major resistance in its journey towards retesting the all-time high. Litecoin (LTC) price opened the third week of May 2025 in a bullish outlook, after rallying more than 23 percent last week. The veteran altcoin, with a fully diluted valuation of about $7.77 billion, gained around 2.4 percent in the last 24 hours to trade about $102 on Monday, 2025 during the late North American trading session. Amid the heightened crypto volatility, which led to over $709 in net liquidations today, nearly $2 million involved LTC leveraged trades. Furthermore, Litecoin’s futures open interest surged over 9 percent in the last 24 hours to hover about $691 million at the time of this writing. Litecoin Records Robust Fundamentals As one of the top-tier altcoin that is secured through the proof-of-work (PoW) consensus mechanism, the Litecoin network has attracted significant attention from both retail and institutional investors. According to on-chain data analysis, the Litecoin network continued to process over 1 million transactions per week, thus having processed over 25 million transactions year-to-date. Meanwhile, institutional investors, led by fund managers, continue to press to offer regulated Litecoin’s investment products such as ETFs and ETPs. Last week, Valor Inc., a digital asset management wing firm for DeFi Technologies, unveiled LTC’s ETP on Sweden’s Spotlight Stock Market. In the United States, several fund managers, led by Canary Capital, continue to pressure the U.S. SEC to approve Litecoin ETFs soon. LTC Price Eyes ATH Following a successful rebound from a multi-year rising logarithmic trend in the past few weeks, LTC price has approached a crucial liquidity zone of around $107. Since the Litecoin network undertook its third halving on August 2, 2023, LTC price has mostly consolidated below $107 to date. However, LTC’s macro-bullish momentum has gained significant traction in the recent past. In the weekly timeframe, LTC’s MACD line is almost crossing the Signal line amid growing bullish histograms. A consistent close above $107 will propel LTC price toward its all-time high in the subsequent weeks. However, a possible rejection at about $107 will lead to another correction towards the support level of about $81.
The South Korean central bank has entered the political furore surrounding stablecoins , insisting it should have the final say over the issuance of a KRW-pegged coin. Stablecoins have become a “political hot potato” ahead of next month’s presidential elections, South Korean media outlets wrote on May 12. Aju Kyungjae quoted the Bank of Korea (BOK) as stating that it alone should have the legal authority to approve plans to launch a won-based stablecoin. South Korean Central Bank: Stablecoin Showdown Ahead? Koh Kyung-chul, the head of the BOK’s electronic finance unit, explained: “Stablecoins would have a significant impact on the implementation of central bank policies such as monetary policy and financial stability, as well as payments and settlements.” The Bank of Korea, in downtown Seoul, South Korea. (Source: Otraff [CC BY-SA 3.0]) The bank official added that the BOK should be involved from the “initial” stage. This will ensure that “any negative impact on central bank policy is minimized,” Koh said. Koh added that the BOK should also be granted input should lawmakers decide to create stablecoin-related legislation. The official explained: “Legislation design is important. This will help build a stable and sustainable digital payment ecosystem.” The BOK appears to be concerned that a won-pegged stablecoin could replace the demand for legal currency. This, it worries, could have a significant knock-on effect for monetary policy. Bank officials say they are aware that US dollar-pegged stablecoins like Tether (USDT) are already being used in place of the dollar in cross-border trade operations. The central bank has already spoken about stablecoins at length this year. In its payment and settlement report last month, the BOK warned: “Stablecoins can infringe upon monetary sovereignty and undermine the effectiveness of monetary policy. A careful review is necessary before they are approved.” Earlier this month, the BOK Governor Lee Chang-yong issued another stablecoin warning. The Governor said that USDT “and other stablecoins” would “likely bypass South Korean capital regulations and foreign exchange regulations.” Lee Chang-yong concluded that stablecoin regulation “is an urgent matter.” However, the presidential frontrunner and Democratic Party candidate Lee Jae-myung recently claimed that South Korea “must create a won-based stablecoin market.” The DP leader spoke about KRW-pegged coins. He said that South Korea must “enter the stablecoin market quickly” or risk an “outflow of national wealth.” Seoul shares open higher on hopes for US-China trade deal #Kospi #Kosdaq #stocks #updates https://t.co/Tfr4Vw6HPx — The Korea Herald 코리아헤럴드 (@TheKoreaHerald) May 12, 2025 ‘Terra Collapse Should Serve as a Warning’ Lee Jae-myung’s comments sparked a backlash from Lee Jun-seok, the candidate for the Reform Party. The latter accused the DP candidate of making “dangerous and experimental” economic promises. He also said that Lee Jae-myung had failed to learn the lessons of the calamitous collapse of the Terra ecosystem and its KRW-pegged stablecoin in May 2022. Lee Jun-seok said that his rival was “bandying plausible-sounding words” like “stablecoin” about “without understanding anything about the market.” Several Lee Jae-myung allies have jumped to the frontrunner’s defence. An ex-DP MP accused the Reform Party leader of failing to “familiarize himself with the basic concepts of global financial regulation.” South Korea’s ruling conservatives opted for a right-wing candidate as the official campaign for the presidential election kicked off https://t.co/Y0hXiJQ0SS — Bloomberg (@business) May 12, 2025 Should Lee Jae-myung win power on June 3, he and his party may find themselves at loggerheads with the BOK. The DP lawmaker Min Byung-deok last month unveiled a private member’s bill entitled the Digital Asset Basic Act (literal translation). Min’s bill stipulates that the regulatory Financial Services Commission, not the BOK, should be given the sole authority to approve stablecoin issuances. The post South Korean Central Bank Wades into Presidential Candidates’ Stablecoin Row appeared first on Cryptonews .