Hong Kong’s SFC Prepares for Spot Crypto ETFs Application
Hong Kong Securities and Futures Commission (SFC) is preparing to accept applications for spot cryptocurrency ETFs as declared on December 22, although crypto transactions conducted by ETFs must occur through SFC-licensed c spot cryptocurrency ETFsrypto platforms or authorized financial institutions. The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority, which serves as […]
China Cracks Down on Gaming Crypto Tokens with New Regulations
China’s GAPP has released a draft of new regulations for the online gaming industry, including a ban on converting game tokens into fiat or physical goods. The move reflects China’s strict stance on digital currencies in gaming. China’s General Administration of Press and Publication (GAPP) has unveiled a draft of new regulations for the online […]
NYDFS Reportedly Grants Paxos Approval to Join Solana Blockchain
The New York Department of Financial Services (DFS) has reportedly granted regulatory approval to stablecoin issuer Paxos to launch its products on the Solana blockchain. Currently, only the Ethereum network has authorized the company to issue its Pax Dollar (USDP) stablecoin due to limitations imposed by the DFS. The anticipated premiere date for Paxos on […]
Bank of China Completes First Precious Metal Digital Yuan Settlement
The Shanghai branch of the Bank of China has completed the first settlement of precious metals using the digital yuan. The South China Morning Post claims that the Bank of China, a commercial bank based in Beijing, has completed the first cross-border settlement for trade in precious metals using digital yuan. This means that the […]
Solana Struggles with Saga Phones Inventory
The third-party distributor for Solana Mobile experienced inventory problems, which led to order cancellations and refunds for impacted clients. The mobile tech startup Solana Mobile, which creates the Solana Mobile Stack and Saga, said in an X post on December 22 that a significant spike in demand for its Saga product led to sellouts in […]