Weekly Article Recap: 6/19-6/24

Recapping the Week in DeFi

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.

BNB Chain Unveils opBNB on Testnet to Enhance Scalability and Security

On Monday, BNB Chain unveiled opBNB,  a Layer 2 (L2) solution built on the OP Stack on testnet. opBNB aims to transform gaming, decentralized exchanges, and digital collectibles, with a block gas limit of 100M gas. BNB Chain envisions a future where opBNB serves as a dedicated high-performance ledger for gaming apps, while Binance Smart Chain (BSC)  acts as a secure settlement layer.

Learn more in this article. 

Binance Strengthens Global Presence With Licensed Platform in Kazakhstan

Binance recently launched a dedicated digital asset platform in Kazakhstan following its license from the AIFC Financial Services Authority (AFSA) in October last year. The new exchange will offer various services such as currency exchange, fiat currency deposits and withdrawals, custody of cryptocurrencies, and trading on the platform.

Find more information here. 

Crypto.com Confirms its Status as a Virtual Asset Provider in Spain

Crypto.com has been officially recognized as a Virtual Asset Service Provider (VASP) by the Bank of Spain. This accreditation confirms that Crypto.com complies with anti-money laundering and financial crime regulations, ensuring the safety of its users. As a registered VASP, Crypto.com can now offer a wide range of virtual asset services in Spain, including secure storage, cryptocurrency trading, and fiat-to-crypto transactions.

Details here.

FSMA Orders Binance to Cease Virtual Currency Services in Belgium

The Financial Services and Markets Authority (FSMA) has ordered Binance to stop providing virtual currency services in Belgium. Contradicting Belgian law, Binance offered exchange and custody wallet services involving virtual currencies and legal currencies from countries outside the European Economic Area.

Learn more in this article. 

SEC Approves the First Ever Leveraged Bitcoin Futures ETF, Revolutionizing Cryptocurrency Market

In a significant development for the ecosystem, the US SEC has approved the first leveraged Bitcoin Futures Exchange-Traded Fund (ETF). This new ETF is set to launch on June 26, 2023, and will track the performance of the CME Bitcoin Futures Daily Roll Index, allowing investors to gain exposure to Bitcoin by investing half of its value, potentially offering higher returns. 

Find details here.