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Chinese microchip company says it’s now accepting Bitcoin as payment

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A Chinese microchip company, Bitmain Technologies, has announced that it will begin accepting Bitcoin as payment for its products, marking a significant development in the adoption of cryptocurrency within the tech industry. Known for manufacturing Bitcoin mining hardware, Bitmain will now offer customers the option to pay in Bitcoin for its range of microchips, including the popular Antminer series. This move signals a growing acceptance of digital currencies among traditional hardware manufacturers, reflecting the increasing integration of cryptocurrency into global commerce.

The decision to accept Bitcoin comes at a time when China is slowly recalibrating its stance toward digital assets. While the country had previously cracked down on cryptocurrency mining and trading, there has been a shift in recent months, with some sectors of the economy finding value in incorporating blockchain and cryptocurrency into their operations. Bitmain’s adoption of Bitcoin payments demonstrates a more pragmatic approach, as the company looks to tap into the rapidly growing cryptocurrency ecosystem and streamline payments for international clients.

By accepting Bitcoin, Bitmain is also positioning itself as a forward-thinking leader in the global microchip market, where digital currencies and blockchain technology are becoming increasingly relevant. Bitcoin payments allow for faster, borderless transactions, which could be especially beneficial for the company’s international customers who may face delays or high fees with traditional banking systems. Furthermore, this move may help Bitmain attract new customers within the crypto and blockchain sectors, who are more likely to engage with a company that supports cryptocurrency as a legitimate means of payment.

While Bitmain’s adoption of Bitcoin is a noteworthy step, it remains to be seen how widely this payment option will be adopted across the company’s customer base. The volatility of Bitcoin’s price could be a factor for customers, as they may need to navigate fluctuating exchange rates when paying for products. Nevertheless, this development underscores the increasing role that cryptocurrencies are playing in mainstream industries, with companies like Bitmain leveraging blockchain technology and digital assets to enhance their business operations and expand their global reach.

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Binance tightens South African compliance rules for crypto transfers

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Binance is tightening compliance measures for crypto transactions in South Africa, announcing it will fully implement the country’s Travel Rule requirements beginning January 2025. The move aligns with regulations set by South Africa’s Financial Intelligence Centre (FIC) and reflects the exchange’s broader efforts to meet global anti-money laundering standards.

Under the new rules, Binance will require South African users to include verified personal information—such as names, addresses, and account details—when sending or receiving crypto between platforms. These changes are designed to increase transparency and traceability of digital asset transfers, making it harder for illicit actors to exploit decentralized networks.

Binance emphasized that users must complete know-your-customer (KYC) verification before transferring crypto to or from external wallets. Transfers to non-compliant platforms may be restricted or flagged, while internal transfers within Binance or to Travel Rule-compliant entities will remain unaffected.

The announcement follows South Africa’s decision in 2023 to designate crypto as a financial product, placing digital asset providers under the supervision of the FIC. The country has since taken steps to integrate crypto into its formal regulatory structure, including licensing requirements and mandatory reporting obligations.

With enforcement beginning in 2025, Binance urged users to familiarize themselves with the new procedures to avoid disruptions. The exchange also plans to provide additional guidance and tools to help users remain compliant as the deadline approaches.

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Ethereum bounces back as market dominance recovers from all-time low

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Ethereum has staged a notable recovery after recently experiencing its lowest market dominance since its early days. The turnaround comes as ETH surged nearly 4% in the past 24 hours, climbing back above the $3,100 mark and narrowing its underperformance gap relative to Bitcoin.

For much of 2024, Ethereum has trailed behind Bitcoin and a growing wave of altcoins, with its market share dropping below 15% — levels not seen since 2015. The slump was driven by investor focus on Bitcoin ETF momentum, lackluster institutional interest in ETH, and rising competition from layer-1 and layer-2 networks offering faster and cheaper alternatives.

Despite these challenges, Ethereum’s fundamentals remain strong. Data shows a healthy uptick in active addresses, transaction volumes, and total value locked in DeFi protocols built on Ethereum. Additionally, hopes remain high for the approval of a spot Ethereum ETF in the U.S., with analysts suggesting a potential turnaround in institutional flows if approved.

Traders are now watching whether this rebound signals a sustained trend reversal or just a temporary relief rally. With key upgrades and ecosystem developments still in the pipeline, Ethereum’s ability to regain dominance may hinge on reigniting both investor confidence and broader developer activity.

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SEC says it won’t re-file fraud case against Hex’s Richard Heart

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The U.S. Securities and Exchange Commission (SEC) has confirmed it will not pursue a retrial in its fraud case against HEX founder Richard Heart, effectively bringing an end to one of the agency’s high-profile crypto enforcement actions.

The decision follows a recent court ruling that dismissed several key allegations against Heart, including claims that he misled investors and violated securities laws through the promotion and sale of HEX, PulseChain, and PulseX tokens. While the SEC initially signaled it would consider further legal options, it has now opted to forgo additional litigation.

Heart, a controversial figure in the crypto world, had long denied the SEC’s accusations, framing the lawsuit as an overreach by regulators. The agency had alleged that Heart raised over $1 billion from investors while misrepresenting how funds would be used and failing to register the offerings.

With the SEC stepping back, the dismissal marks a rare instance in which the regulator has chosen not to continue a crypto-related fraud case, potentially signaling a reassessment of its approach amid growing legal pushback and mounting scrutiny over its enforcement tactics.

Although the case is now closed, legal analysts suggest the outcome could influence future regulatory efforts and may embolden other crypto founders facing similar challenges. Heart, meanwhile, has positioned the development as a vindication, reaffirming his stance that HEX and related projects were never in violation of U.S. securities laws.

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