DeFI News by Thebittimes.Com

The government body overseeing the crypto market in Uzbekistan has restored access to Bestchange.ru, a well-known exchange aggregator in the region. The move comes after earlier this year the regulator blocked a number of coin trading platforms, including Binance. Residents of Uzbekistan Can Again Use the Services of Bestchange.ru Uzbekistan’s National Agency of Perspective Projects (NAPP), the authority regulating the crypto space in the Central Asian nation, has removed restrictions imposed on Bestchange.ru, a popular exchange aggregator in Russia and the former Soviet space. The development was announced by the Digital Rights Center (DRC) law firm whose legal experts have been representing the crypto platform. The DRC is specializing in providing legal assistance to internet users and businesses and was able to secure the unblocking of Bestchange.ru in Russia. The NAPP, which is subordinated to the presidential administration in Tashkent, began restricting foreign-based cryp...

With limited access to global finances , Russian businesses have begun settling in cryptocurrency with their partners abroad. Although these are still small-scale payments, government officials have noted their increase, which comes even before authorities have decided how to regulate these transactions. Cross-Border Crypto Settlements on the Rise in Russia as US Dollar and Euro Payments Decline Companies operating under sanctions imposed on Russia over the escalating conflict in Ukraine have started employing cryptocurrencies despite that the new regulations for this type of payment are expected to come into force in 2023 at the earliest, a government representative has revealed. Director of the Financial Policy Department at the Ministry of Finance Ivan Chebeskov acknowledged the trend in conversation with the Russian daily Izvestia. At the same time, he remarked that such cross-border settlements are still carried out on a limited scale. Russian entities are now actively using d...

Join Our Telegram channel to stay up to date on breaking news coverage Visa, a leading card payment provider, has announced a partnership with FTX, one of the largest exchanges in the US. Through this partnership, Visa will provide crypto debit cards across 40 countries. Visa partners with FTX for crypto credit cards The cards created through this partnership will be available in 40 countries. The cards will be available in Latin America, Europe, and Asia. The cards are currently available in the US and will be linked to the FTX accounts of users, making it easy for them to spend their crypto holdings. One of the main selling points of the new card is that it will allow users to sell assets without going through the lengthy conversion process that usually involves high fees. Users can use their crypto assets without moving their assets from the exchange and will not pay any additional fees. Moreover, they will avoid waiting for their transactions to be processed. The partner...

Council of the EU, one of the European Union’s legislative bodies , has approved the proposed regulatory framework for the European crypto space . It’s now up to European lawmakers to approve the Markets in Crypto Assets package before its final adoption. Comprehensive Crypto Regulation Moves Closer to Adoption in EU The Committee of Permanent Representatives (COREPER) has approved the final version of the Markets in Crypto Assets (MiCA) legislation, according to a document published by the Council of the European Union after a meeting on Oct. 5. The committee is made up of the heads of missions of the EU member states in Brussels. COREPER prepares the agenda for the ministerial meetings of the Council and is authorized to take some procedural decisions. The European Parliament has been informed about the endorsement in correspondence to the Committee on Economic and Monetary Affairs (ECON) which is expected to meet and vote next week. In a letter, COREPER Chair Edita ...