- Consensys Faces Setback as Court Dismisses Lawsuit Against SEC
- Binance Demands Release of Executive Before Meeting Nigerian Crypto Regulations
- Circle Expands USDC Access in Brazil and Mexico
As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.
Consensys Faces Setback as Court Dismisses Lawsuit Against SEC
A Texas court dismissed Consensys’ lawsuit against the SEC on September 19, 2024. The case challenged the SEC’s classification of Ethereum as a security. Consensys filed the suit in April after receiving a Wells notice regarding potential enforcement actions tied to its Ethereum wallet, MetaMask. The company argued that the SEC's scrutiny of Ethereum was regulatory overreach and that Ether should not be classified as a security.
Binance Demands Release of Executive Before Meeting Nigerian Crypto Regulations
Binance has announced it will not comply with Nigeria's new digital asset regulations until its detained executive, Tigran Gambaryan, is released. This follows Nigeria's Securities and Exchange Commission (SEC) introducing the Accelerated Regulatory Incubation Programme (ARIP), which requires virtual asset providers to establish offices in Nigeria and adhere to specific rules.
Circle Expands USDC Access in Brazil and Mexico
Circle has integrated its stablecoin, USD Coin (USDC), with Brazil’s PIX and Mexico’s SPEI payment systems. This allows businesses in Brazil and Mexico to convert local currencies (BRL and MXN) directly into USDC, bypassing international wire transfers. The move aims to enhance transaction efficiency, cut costs, and speed up cross-border payments and remittances.
Stay updated with the latest news and trends in the world of DeFi and cryptocurrencies, and follow our weekly recap to always be at the forefront of the developments.
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