In a first for both PetroChina and the digital yuan, the Chinese oil and gas company reportedly settled a trade with the country’s central bank digital currency (CBDC). 

The news was first reported by China Daily, a paper owned by the Chinese Communist Party.

PetroChina allegedly bought a million barrels of crude at the Shanghai Petroleum and Natural Gas Exchange (SHPGX), with the transaction settled by e-CNY. 

The announcement from Friday, made by the SHPGX, did not disclose either the seller or the deal’s value.

“The Shanghai Municipal Party Committee and Municipal Government issued work requirements…The Shanghai Oil and Gas Trading Center responded to the call and actively…

Read more on https://Blockworks

The DC Circuit Court of Appeals has formalized Grayscale Investments’ court win over the US Securities and Exchange Commission — sending the onus back to the regulator.

A three-judge panel ruled unanimously in August that the SEC rejecting Grayscale’s proposal to convert its bitcoin trust (GBTC) to an ETF — but allowing bitcoin futures funds to launch — was “arbitrary and capricious.”

The court ordered at the time that the commission’s order denying the GBTC conversion would be “vacated.” The final mandate comes 10 days after the SEC’s 45-day window to appeal the court loss to Grayscale expired. 

“The Grayscale team looks forward to continuing to work…

Read more on https://Blockworks

Standard Chartered Bank’s SCBFF SC Ventures and Deutsche Bank DB have successfully conducted a Universal Digital Payments Network (UDPN) proof-of-concept, facilitating real-time transactions between USD Coin USDC/USD and EURS stablecoins.

In this initiative, SC Ventures utilized the UDPN development tools to initiate digital transfers to Deutsche Bank’s wallets, which were tracked on EtherScan, Financial Express reported.

Similarly, Deutsche Bank reciprocated by transferring funds to SC Ventures.

Their combined effort is the first of 12 proof-of-concepts designed to demonstrate UDPN’s potential in resolving cross-border payment challenges.

This endeavor also provided insights into the…

Read more on Benzinga

The United States Court of Appeal has issued a mandate following a decision requiring Grayscale Investments application for a spot Bitcoin exchange-traded fund to be reviewed by the Securities and Exchange Commission (SEC). 

In an Oct. 23 filing in the U.S. Court of Appeals for the District of Columbia Circuit, the “formal mandate” of the court took effect, paving the way for the SEC to review its decision on Grayscale’s spot Bitcoin (BTC) exchange-traded fund, or ETF. The mandate followed the court’s initial ruling on Aug. 29 and the SEC failing to present an appeal by Oct. 13.

Oct. 23 filing in U.S. Court of Appeals for the District of Columbia Circuit. Source: Courtlistener

Read more on Cointelegraph

In the last week, several major financial regulators, both national and international, simultaneously produced new guidelines for decentralized assets. The European Banking Authority and the European Securities and Markets Authority proposed guidelines for assessing the suitability of management members in crypto firms, offering standardized criteria for evaluating their knowledge, expertise, integrity and ability to dedicate adequate time to fulfill their responsibilities.

The Basel Committee on Banking Supervision of the Bank for International Settlements (BIS) proposed to oblige banks to provide both quantitative and qualitative data on exposures to crypto assets and the corresponding…

Read more on Cointelegraph

Bitcoin’s BTC/USD journey to becoming a global reserve currency hinges on several key factors – more institutions mainstreaming its use, effective regulation of its touchpoints rather than the currency itself, dispelling myths surrounding its environmental impact and creating easier transaction avenues for the public, according to Seamus Rocca, the CEO of Xapo Bank.

The CEO’s insights are particularly timely, as the financial community continues to explore the future of digital assets. Events like Benzinga’s Future of Digital Assets conference on Nov. 14 will further delve into these pressing topics, fostering deeper understanding and collaboration.

In an interview with…

Read more on Benzinga

In Ripple’s XRP/USD ongoing lawsuit, the U.S. Securities and Exchange Commission (SEC) does not have a good chance of winning its appeal against the company.

Lawyer Bill Morgan who is closely following the lawsuit said in an X post that all the odds are in favour of Ripple and there is only a 3%-14% chance for SEC having success in in its appeal against Ripple, CoinTelegraph reported.

Find out more about Ripple’s SEC case and what are the effects of it on token price. Meet and engage with other transformative Digital Asset and Crypto business leaders and investors at Benzinga’s exclusive event: Future of Digital Assets. Tickets are flying: Get yours!  

XRP attorney John Deaton…

Read more on Benzinga

Several key pieces of crypto legislation are at a standstill as Republican lawmakers struggle to elect a new House speaker in the United States Congress. Meanwhile, Reddit’s r/CryptoCurrency community sacked two moderators involved in insider trading of the Moons (MOON) token, and Bitcoin (BTC) advocate Jameson Lopp has presented new evidence that could debunk the theory that computer scientist Hal Finney was Bitcoin creator Satoshi Nakamoto. 

House speaker vacuum leaves Congress paralyzed on crypto bills

Key pieces of crypto legislation in the United States remain in limbo as lawmakers struggle to appoint a new House speaker.

Without a House speaker, crypto bills passed by the…

Read more on Cointelegraph

OKX’s chief marketing officer Haider Rafique wants OKX to be as trustworthy as Fidelity. 

In an interview with Blockworks, Rafique explained how he’s approaching the company’s rebranding, advertising and the overall state of crypto.

In December 2022, OKX announced that it was planning to rebrand from OKEx to OKX. Rafique helped lead the rebranding, and acknowledged that the campaign has been tough.

“There’s still an appetite to push and bring utility,” he added. 

The company is looking to build itself as a “generational brand” like Fidelity, a brand that Rafique himself trusts.

Read more: Tech-first, trust-next: OKX’s roadmap for regaining consumer…

Read more on https://Blockworks