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Japan crypto exchange DMM Bitcoin is set to liquidate

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DMM Bitcoin, one of Japan’s leading cryptocurrency exchanges, is reportedly preparing to shut down its operations. According to local media reports on Nov. 21, the decision stems from declining trading volumes and increasing regulatory pressures in the country’s crypto market. DMM Bitcoin, a subsidiary of the Japanese e-commerce giant DMM Group, has not yet publicly confirmed the closure but is said to be finalizing the details of its exit strategy.

Launched in 2018, DMM Bitcoin positioned itself as a key player in Japan’s cryptocurrency space, offering trading in a variety of digital assets. However, the exchange has faced challenges in recent years, including a highly competitive market and strict regulatory requirements imposed by Japan’s Financial Services Agency (FSA). These hurdles, combined with a stagnating user base, are believed to have contributed to the decision to liquidate the platform.

The potential closure highlights the difficulties crypto exchanges face in navigating Japan’s rigorous regulatory environment, which aims to protect investors but can impose significant operational burdens. Despite these challenges, Japan remains a significant hub for crypto innovation, with other major exchanges and blockchain companies continuing to thrive. DMM Group is reportedly evaluating whether to maintain any presence in the digital asset sector after the liquidation.

This development comes amid broader consolidation in the global cryptocurrency exchange market, where only the most resilient platforms are managing to adapt to changing market dynamics and regulatory landscapes. DMM Bitcoin’s departure could serve as a cautionary tale for smaller and mid-sized exchanges struggling to compete in an increasingly regulated and competitive industry.

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US lawmakers advance anti-CBDC bill

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U.S. lawmakers have voted to advance a bill aimed at blocking the Federal Reserve from issuing a central bank digital currency (CBDC), marking a major step in the political pushback against the development of a digital dollar.

The bill, which passed through the House Financial Services Committee, would prohibit the Fed from directly offering accounts or issuing a CBDC to individuals, citing concerns over surveillance, privacy, and government overreach.

Supporters of the legislation argue that a digital dollar could pose significant risks to civil liberties, enabling real-time tracking of consumer transactions and expanding federal control over personal finances. They view the bill as a safeguard against what they describe as a “surveillance-style” monetary system.

Opponents of the bill, however, argue that restricting CBDC development could hinder U.S. innovation and global competitiveness in the evolving digital financial landscape.

The legislation now moves closer to a potential floor vote in Congress. Its progress underscores growing ideological divisions over the future of money in the United States, with CBDCs emerging as a new front in the broader debate over digital governance, financial freedom, and the role of government in the digital age.

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Gemini to open Miami office after judge stays SEC case

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Crypto exchange Gemini has opened a new office in Miami, reinforcing its commitment to expanding operations despite pausing its plans for an initial public offering (IPO) amid a continuing legal battle with the U.S. Securities and Exchange Commission (SEC).

The Miami office signals the company’s long-term vision for growth in key U.S. markets, even as regulatory uncertainty clouds the broader crypto landscape. The expansion comes at a time when Gemini is facing heightened scrutiny from the SEC over its Earn program, which the regulator alleges involved unregistered securities.

While the IPO remains on hold, Gemini continues to strengthen its infrastructure and team, focusing on user growth, compliance, and regional outreach. The Miami hub is expected to play a strategic role in those efforts, leveraging the city’s growing status as a U.S. crypto hotspot.

Co-founders Cameron and Tyler Winklevoss remain vocal about the need for clear regulatory frameworks and have emphasized that Gemini will continue to fight for fair treatment while building responsibly in the U.S. and abroad.

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Coinbase Institutional files for XRP futures trading with CFTC

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Coinbase Institutional has officially filed with the U.S. Commodity Futures Trading Commission (CFTC) to offer XRP futures trading, marking a significant move toward expanding institutional access to Ripple’s native token.

The filing, submitted through Coinbase Derivatives, signals the exchange’s intent to list XRP futures contracts in a regulated environment. If approved, it would allow institutional investors to gain exposure to XRP through derivative products, a key step in broadening the token’s presence in traditional financial markets.

This development comes amid a gradually improving regulatory climate for XRP, following a partial legal victory for Ripple in its ongoing case with the U.S. Securities and Exchange Commission (SEC). The outcome gave XRP a degree of legal clarity, opening the door for exchanges and financial institutions to re-engage with the asset.

Coinbase’s push to expand its derivatives offerings also aligns with its strategy to build a more robust institutional platform. Approval from the CFTC would position the exchange to capitalize on growing demand for regulated crypto investment vehicles.

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