Sign In
Sign Up
DeFinda Logo
Find & Compare DeFi Products
usd logo USD
Home Blog bitcoin spot etf and binance licence in elsalvador
Article by Yunis
5 September 2023 (Updated 15 June 2024)

Crypto News and Developments in August: A Month of Steady Progress and Calm Waters

August remained calm and steady, as evidenced by the Bitcoin price chart. Not much has changed, with the United States still mired in crypto-related uncertainties, while Europe and other regions continue to make progress.
Crypto Platform News - August 2023
  • Paypal introduced its stablecoin PYUSD.
  • Binance is working hard to counter FUD.
  • Russia's CBDC trials officially started.
  • First Spot Bitcoin of Europe is not traded.

PayPal Introduces Its Own Stablecoin, PYUSD

PayPal has launched its own stablecoin backed by secure and highly liquid assets, as stated on the official website. The price of one PYUSD is equal to one USD, and it is meant for use in payments and transfers. The reserve holder for PayPal's stablecoin is the well-known industry name Paxos. The launch of PYUSD represents a significant milestone as it's the first stablecoin created by a major U.S. financial company. It is essential to remember that Binance stopped its stablecoin BUSD earlier this year after facing difficulties with U.S. authorities.

Binance Becomes the First Fully-Licensed Exchange in El Salvador

The game of chess continues among players in the crypto world. While some U.S. crypto exchanges are looking for better places to move, others are securing or expanding their positions in different regions. The latest major step comes from the world's leading crypto exchange, Binance has received licenses to legally operate in the crypto-friendly state of El Salvador. This development might indicate some form of partnership or alignment, as two major crypto giants join forces together.

Binance Reports the Latest Proof of Reserve for Its Bitcoin and Altcoin Holdings

We have left the worst behind us for sure, leaving many zombie exchanges in the past. However, we still need to exercise caution. Proof of reserve remains a vital issue across the industry. There is significant effort to create FUD against Binance, but Binance is fighting back in all fields by obtaining licenses and striving for greater transparency. Binance released the latest proof of reserves report. It's important to note that while they have a satisfying amount of funds, questions linger about the actual required reserves and who controls these funds.

Russia's CBDC Trials with 13 Banks Officially Started

Western countries imposed sanctions on Russia following the conflict in Ukraine, effectively excluding Russia from the Western financial system. Since then, Russia has been actively researching and exploring cryptocurrencies and Central Bank Digital Currencies (CBDCs) as part of its efforts to navigate around sanctions through the use of digital currencies. The latest announcement from the Russian Central Bank states that Digital Ruble tests began in August.

Europe's First Spot Bitcoin ETF Is Live

America is falling behind, and Europe is now the best place to build, especially after the MiCA law was passed last May. A more regulated environment in Europe is nurturing crypto activities. While the debate continues in the U.S., Europe has already approved its first spot Bitcoin ETF, which is now actively traded.

Important Message Definda does not provide any financial advice. All information is provided for research purposes only. DeFi is a rapidly evolving industry. Most businesses in the sector are very young and it is possible that some of them could go out of business in the future. Such an event could result in the loss of your investment. You should do your own research or consult a financial advisor before investing any money. Please read and satisfy yourself with our terms before continuing to use our website. We offer a free impartial comparison service of savings, loans and other DeFi products. We may receive a small commission from some of the companies listed, but this never influences our rankings. If you spot any errors in the information listed then please contact us at
Blog Page 1
Blog Page 2
Blog Page 3
Blog Page 4
Crypto Platform News - Uptober 2023
Crypto Platform News - September 2023
Crypto Platform News - August 2023
The Evolution of Monetary Sovereignty in Modern Finance and the Dollar as a Measurement Unit.
Crypto Platform News - July 2023
Crypto Platform News - June 2023
The Top 5 Biggest Crypto Cities and Communities
Responsible Development of AI; Let's be good parents for AI
Crypto Platform News - May 2023
April 2023 Market Review
Crypto Platform News - April 2023
Crypto Platform News - March 2023
March 2023 Market Review
Are cryptocurrencies securities? Is Bitcoin Halal?
February 2023 Market Review

Why Compare With Definda?

tick Completely Impartial

We always rank and compare products objectively and impartially.

tick Careful Research

We carefully research products for legitimacy before adding them to the platform.

tick We Never Sell Your Data

We never sell or disclose your data to anyone.

© DeFinda 2024
Share Page Using