ChainCatcher news, according to CoinDesk, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler stated at an event at New York University School of Law that he believes Bitcoin (BTC) or other cryptocurrencies are unlikely to become widely used payment methods and are more likely to be viewed as a store of value. He cited history and monetary theory to emphasize that nations typically tend to use only one currency.He also criticized fraudulent activities in the crypto industry, pointing out that many "leaders" in the industry for 2024 are either in prison or facing extradition. He believes that the existing Howey Test is sufficient to regulate crypto assets without the need for an additional regulatory framework.

ChainCatcher news, according to Cointelegraph, crypto industry lawyer Irina Heaver believes that the recent regulations issued by the United Arab Emirates (UAE) may ban cryptocurrency payments in the country. On June 5, the board of the UAE Central Bank discussed projects under the Financial Infrastructure (FIT) program, an initiative aimed at promoting digital transformation. During the meeting, the board approved the release of regulations for payment token services to regulate and license stablecoins. The new guidelines suggest that payment tokens in the country must be backed by the UAE Dirham and cannot be pegged to other currencies.Heaver pointed out that the new regulations effectively prohibit the use of cryptocurrencies for payments within the UAE, unless they are licensed Dirham payment tokens or registered foreign payment tokens, neither of which currently exist. She believes this move contradicts the UAE's stance of supporting business and investment, expressing concern that the new regulations will hinder the country's progress in the Web3 and cryptocurrency sectors.

Chain Catcher news, the Mexican crypto exchange Bitso will launch a QR code crypto payment tool in its wallet app on September 27. This feature allows shoppers in Argentina to use cryptocurrencies for payments at supermarkets and restaurants across the country, such as stablecoins pegged to the dollar, Dai, Ether, Bitcoin, and other cryptocurrencies. (The Block)

According to Chain Catcher news and reported by CryptoDaily, the Ukrainian supermarket chain Varus has partnered with Binance to allow customers to pay their bills with cryptocurrency through the Binance Pay wallet. Customers in 9 Ukrainian cities, including Kyiv, Dnipro, and Kamianske, can enjoy this crypto payment feature. Before using it, customers must download and install the Binance app on their iOS or Android devices. (Source link)