BITCOIN

Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan, announced its plans to deploy and distribute bank-backed stablecoins on different public blockchains. The Japanese bank has partnered with Datachain, a blockchain interoperability company, and Toki, a cross-chain bridge, to allow the interoperation of these licensed stablecoins along several blockchains using its Progmat Coin protocol. MUFG Presents Technical Partnership for the Issuance of Stablecoins MUFG has announced that it plans to deploy stablecoins on top of public blockchains. The bank, which held $776 billion in assets under management (AUM) by 2020, is partnering with Datachain, a blockchain interoperability company, and Toki, a cross-chain bridge. The announcement of MUFG comes after the revised funds’ settlement law passed in 2022 came to take effect on Thursday to allow financial institutions to issue stablecoins. MUFG will use its in-house developer “ Progmat Coin ” platform for this. Progmat Coin is

The U.S. Securities and Exchange Commission (SEC) has identified 12 crypto tokens as securities in a new lawsuit filed against Binance and its CEO, Changpeng Zhao (CZ). The securities regulator asserted that Binance platforms “have made available for trading on them crypto assets that are offered and sold as investment contracts, and thus as securities.” SEC Highlights 12 Crypto Tokens as Securities in New Lawsuit The U.S. Securities and Exchange Commission (SEC) has claimed that 12 crypto tokens are securities in its lawsuit filed Monday against crypto exchange and its CEO, Changpeng Zhao (CZ). The lawsuit also names Bam Trading Services, which operates crypto trading platform Binance.US, and its parent company Bam Management US Holdings as defendants. According to the lawsuit, Zhao owns 81% of Bam Management. The SEC alleged that the defendants have “unlawfully solicited U.S. investors to buy, sell, and trade crypto asset securities through unregistered trading platforms availab

Ethereum faces congestion for validators to enter and begin staking in the protocol. According to data from Wenmerge, an information dashboard, more than 90,000 validators are waiting to provide protocol validation services on Ethereum. This means a validator entering the queue today must wait more than 46 days to be activated and begin its tasks. Ethereum Validator Queue Grows Congested Ethereum, the second largest cryptocurrency by market cap, is experiencing a boom in entities trying to provide validation services for its blockchain. The number of validators now waiting in line to start these services on top of Ethereum is over 90,000, with the queue experiencing a rise since the Shapella update, which opened the way for Ethereum withdrawals. This growth in the number of validators waiting in the queue also determines an increase in the waiting times for such validators to start their tasks. If a validator applies to be activated now, it will have to wait at least 46 days to pr