The United Kingdom (UK) government has okayed a revolutionar | The Crypto Basic on Binance Square

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The United Kingdom (UK) government has okayed a revolutionary proposal meant to enable the tokenization of funds. 
#tokenize  #Crypto  #CryptoTrends2024  #cryptonewstoday  #CryptoNews🔒📰🚫 

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White House Official Confirms #Bitcoin Reserve Is Coming, Says U.S. Is a #BTC Fan and Won’t Issue a CBDC. When asked to reveal the number of Bitcoins the government owns and whether it will be made public, Hines declined to comment. “I can’t discuss that right now. There are several reasons why we are not disclosing that information at this time,” Hines remarked. Nonetheless, he revealed that the U.S. government intends to acquire “as much Bitcoin as possible” and will keep working towards that goal. The director of digital assets stated that the acquisition will be carried out in a budget-neutral way without requiring new appropriations. Furthermore, Hines emphatically stated that the U.S. government will not issue a stablecoin or CBDC. He said the president’s executive order already prohibits the issuance of a CBDC. He noted that Fed Chair Jerome Powell has, on three occasions, confirmed that a CBDC would need Congressional approval. This requirement was also echoed in the GENIUS Act, destroying the prospects of CBDC. “Why would you ever want to use a government-backed stablecoin? There’s no purpose for it, and there’s no reason for it. We don’t want Big Brother spying on American consumers, and we feel extremely strongly about this,” he added. #CryptoNewss

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#Cardano Founder Says Glad to Be Working with Near Protocol as Intents Integration Plans Surface. Cardano users could have access to a new cross-chain tool as the Near Protocol team teases the addition of ADA to the Near Intents. Vini Barbosa, a content manager and Near Intents proponent, disclosed that Cardano could be the next token available on Near Intents. For context, this cross-chain execution layer allows for seamless swaps without the need for centralized exchanges. With the potential integration, Cardano users will now be able to swap ADA with over 100 tokens currently embedded on the Near Intents. Notably, this will further boost the market depth of ADA while providing Cardano holders with a new tool for seamless cross-chain interaction. Notably, the Near community spotted this possible integration on PikesPeak, a data and analytical protocol native to the Near Protocol. The Near team appeared to be testing out the new smart contract “cardano.omft.near” on PikesPeak, suggesting they are working on an ADA to Near swap using Intents. Meanwhile, Cardano founder Charles Hoskinson confirmed the speculations in the Cardano and Near communities when he suggested that Cardano is in contact with the Near team on the possible integration. “Glad to be working with Near,” Hoskinson wrote in a July 30 tweet. Notably, there are several other major currencies swapable on the Near Intents, and Cardano would add to the list. Users can swap Bitcoin, Ethereum, Solana, XRP, Dogecoin, SUI, Near, and over 100 other assets on the platform. For the uninitiated, Intents is an abstraction tool that simplifies the complexity of cross-chain transactions by delivering desired outcomes without the user worrying about the process. It saves users the hassle of constructing smart contracts, leveraging a network of “solvers” to complete a user’s intent in the best possible way. Intents launched on beta in November 2024, but Near Protocol fully unveiled it for public use in the first quarter of this year. #Crypto

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White House Crypto Report Preview Leaves Out #Bitcoin Reserve: Here’s What It Covers Instead. While the White House crypto report covers a wide range of issues, it leaves out one key topic: the Strategic Bitcoin Reserve and the broader plan to build a national stockpile of digital assets. Crypto commentators have called attention to this omission, especially since President Trump signed an executive order in March to create both programs. The White House even hosted a Crypto Summit that same month to bring in industry voices on how to manage these reserves. Despite that momentum, the new report offers no update on those plans. However, only the review has made it to the public. It remains to be seen if the full report will include this important aspect of the U.S. crypto journey. Notably, the report follows a strict timeline set by Trump’s executive order from January, which gave federal agencies 180 days to review existing crypto rules, suggest changes, and submit a full report to the National Economic Policy Office. Since then, the administration has moved to update crypto policy. Just days after the order, the SEC launched a dedicated Crypto Task Force to draft new rules. In March, Trump ordered the creation of the Bitcoin reserve and national crypto stockpile. The administration also disbanded the DOJ’s crypto enforcement team in April, signaling a softer enforcement approach. Then, in July, Trump signed the GENIUS Act into law, locking in a regulatory framework for stablecoins. Meanwhile, the SEC under Trump scaled back and paused several high-profile lawsuits against crypto firms. The administration also rolled back Biden-era tax rules on crypto reporting, reducing compliance burdens for both users and businesses. #CryptoNewsFlash

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