Strike expands lightning powered cross-border payments to Mexico
Digital payments firm Strike is expanding its Lightning Network-based cross-border payments service to Mexico, the largest market for remittances from the U.S., which accounts for around 95% of total remittances received by Mexicans from abroad, according to the company.
The service, Send Globally, will be available in Mexico starting June 14, according to a press release provided to CoinDesk. It runs on the Lightning Network, a second layer payment system for the Bitcoin blockchain designed to provide cheaper and faster transactions than the base network. U.S. dollars sent across the border using the service can be received as pesos in the recipient’s bank account, the release states.
Source: CoinDesk
CZ refutes rumors claiming Binance sold BTC, BNB
Binance CEO Changpeng Zhao (CZ) has taken to Twitter to quash rumors that his crypto exchange had been selling its crypto holdings, including BTC and BNB.
The speculation had been rife on social media, with some asserting that the company was involved in significant sales of digital assets. However, Zhao debunked the rumors, saying Binance had not sold BTC or BNB and still held a bag of FTT tokens.
The Binance chief also expressed his amazement that some people could conclude which individual or community had sold cryptocurrencies based solely on a price chart, which involves millions of traders. He also labeled the rumors “FUD,” suggesting they were baseless attempts to create negative sentiment around Binance.
U.S. House Committee pushes for clear rules on Digital Assets
In an ongoing motion, the House Financial Services Committee has called upon Congress to establish a consistent and clear regulatory framework for digital assets, emphasizing the need for regulatory certainty in the ever-evolving landscape.
The motion highlights the jurisdictional challenges between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and the difficulty in determining whether a digital asset should be classified as a security or a commodity.
Under the Securities Act of 1933 and the Securities Exchange Act of 1934, the SEC holds full authority over the offer, sale, and trading of securities, with the requirement that all securities must be registered with the SEC or qualify for an exemption.
Source: TheNewsCrypto