Connect with us

Business

Binance Aussie CEO says regulations will form higher standards

The CEO of Binance Australia Leigh Travers thinks that a specific framework will prove the crypto industry holds itself to a higher standard than many believe.

Published

on

The CEO of Binance Australia Leigh Travers thinks that a specific framework will prove the crypto industry holds itself to a higher standard than many believe.

Travers spoke about the current state of local crypto regulatory efforts and how the opportunities available in the industry are restricted by the lack of clarity.

That lack of clarity was cited as the reason why the Commonwealth Bank of Australia has indefinitely postponed a pilot program for its crypto trading services last month. Although there are no rules on the books directly prohibiting CBA’s new service, Australian financial regulators pushed for a pause on the services because of absent consumer protections.

Without the regulations in place to allow such crypto services to operate, they cannot prove their viability. From Travers’ point of view, the crypto industry is already ahead of traditional financial regulatory regimes for several reasons, and he believes new regulations should reflect that. He said he thinks “the crypto industry wants to see regulation” for a good reason.

Travers believes a sensible regulatory regime would make that higher standard apparent to Australians. With or without new regulations, blockchain analysis firm Chainalysis made it clear in January that when it comes to financial crimes, “cash is still king.”

Another way Travers said the crypto industry sets itself apart from traditional finance is that cryptos such as BTC and ETH do not easily fit into any existing classification for property or financial products. Cryptocurrency is currently categorized as property in Australia.

Overall, Travers seems bullish on crypto. He shared his conviction in the future of  NFTs and the various roles they could play in society. In the short term, he admitted that the way of NFTs is still uncertain and would likely continue to be simple art pieces, but that the long-term implications for NFTs were far-reaching for property rights and intellectual property.

Business

7-Eleven South Korea to accept CBDC payments in national pilot program

Published

on

7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

Continue Reading

Business

SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

Published

on

The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

Continue Reading

Business

GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

Published

on

GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk