DeFI News by Thebittimes.Com

US President Donald Trump is optimistic that dollar-backed stablecoins will help maintain the US dollar as the leading currency in the world. In a pre-recorded video for the participants of the Blockworks Digital Asset Summit in New York, Trump said he encourages the creation of a legal framework for stablecoins, cryptocurrencies pegged to the value of a stable asset such as the US dollar. “I have called on Congress to pass landmark legislation creating simple, common sense rules for stablecoins and market structure. With the right legal framework, institutions large and small will be liberated to invest, innovate and take part in one of the most exciting technological revolutions in modern history.” He says that stablecoins will enable crypto pioneers to fuel America’s financial growth and strengthen the US dollar’s position as the most dominant global currency. “You will unleash an explosion of economic growth and with the dollar-backed stablecoins, you will h...

Regulators in Hong Kong might approve staking Features for spot Ethereum ETFs (exchange-traded funds) this year as the region pushes to become a global crypto hub. That’s according to Blockdaemon’s head of international and vice president Andrew Vranjes, who told The Block in an interview at Token2049 in Singapore that regulators could approve staking for spot Ethereum ETFs “within certain constructs and boundaries.” Crypto ETF Issuers And Regulators In Hong Kong Are Actively Engaging Vranjes added that a potential scenario that could play out is one wherein “accredited investors” will be allowed to take part in spot Ethereum ETF staking before the rest of the market. Conversations with crypto ETF issuers and regulators in Hong Kong to offer such a solution are ongoing, Vranjes said. “We’re positive because of the level of conversation,” the Blockdaemon executive told The Block. “I think we’re closer to the announc...

The UAE (United Arab Emirates) has become one of the most popular destinations in the world for cryptocurrency and web3-related businesses. The government’s crypto-friendly approach has seen ample success in attracting new-age businesses and entrepreneurs. A new report by Crypto Oasis Ecosystem further solidifies UAE’s dominance in the web3 front. According to the report, the UAE houses over 1,450 active Web3 organizations. The report segregated the projects into native and non-native. Native projects are those which are based on native blockchain technologies. As per the report, 65% (950) of the projects are native, while the remaining 35% (500) are non-native. The report makes special mention of the Dubai Multi Commodities Centre (DMCC). The DMCC has registered over 460 native organizations, accounting for more than 50% of the total. Crypto Oasis Ecosystem states in its report, “To maintain this growth and successful environment, the Government of th...