DeFI News by Thebittimes.Com

1. Russian President Putin Signs Law Officially Legalizing Cryptocurrency Mining link Russian President Vladimir Putin has signed a bill officially legalizing cryptocurrency mining. The law introduces new concepts such as digital currency mining, mining pools, mining pool infrastructure operators, address identifiers, and individuals organizing mining pool activities. Mining is considered part of circulation rather than the issuance of digital currencies. Only registered Russian legal entities and individual entrepreneurs are authorized to engage in mining, while individuals who do not exceed government-set energy consumption limits can mine without registration. Additionally, foreign digital financial assets can be traded on Russian blockchain platforms, and the Russian Central Bank has the authority to prohibit individual issuances if financial stability is threatened. The law will take effect ten days after its official publication. Putin described this as a promising economic secto...

Seychelles-based cryptocurrency exchange OKX has partnered with Solana Mobile, the web3 smartphone platform powered by the Solana blockchain. The partnership will enable OKX to integrate its app into the Solana Saga, the dApp store of Solana Mobile. The OKX app will be available for Solana Mobile users, allowing them to access OKX’s suite of next-gen products and services. Dropping some alpha We have partnered with @solanamobile as one of the first crypto exchanges on the Saga #web3 smartphone. #OKX app is now available in the @solana dApp store: https://t.co/NrG2PxqsDN pic.twitter.com/3CuGCkhcqR — OKX (@okx) September 19, 2023 OKX Chief Innovation Officer Jason Lau said that the partnership between both companies brings together OKX’s innovative solutions with Solana Saga’s fast and scalable platform. You might also like: OKX delists over 30 crypto pairs due to non-compliance OKX’s crypto journey OKX, formerly known as OKEx, is a prominen...

Bitcoin whales and market makers continue to add to their leverage long positions, even though it’s unclear whether $15,500 was the final bottom. Bitcoin (BTC) bears have been in control since Nov. 11, subduing BTC price below $17,000 on every 12-hour candle. On Nov. 28, a drop to $16,000 shattered bulls' hope that the 7% gains between Nov. 21 and Nov. 24 were enough to mark a cycle low at $15,500. The most likely culprit was an unexpected transfer of 127,000 BTC from a Binance cold wallet on Nov. 28. The huge Bitcoin transaction immediately triggered fear, uncertainty and doubt, but the Binance CEO, Changpeng Zhao, subsequently announced it was part of an auditing process. Regulatory pressure has also been limiting BTC’s upside after reports on Nov. 25 showed that cryptocurrency lending firm Genesis Global Capital and other crypto firms were under investigation by securities regulators in the United States. Joseph Borg, director of the Alabama Securities Commission, confirmed th...