Cash App will be adding Stablecoin transfers and will allow using Bitcoin to pay merchants

November 13th: During an investigation by the French authorities into the Telegram messaging platform, the travel ban imposed on the company's CEO, Pavel Durov, has been completely lifted. Law enforcement agencies have been looking into whether Durov colluded to enable criminal activities to occur on the app. Initially, he was ordered to remain in France. In June, Durov won a relaxation of the restrictions, allowing him to travel to Dubai with certain limitations. One year ago in August, French authorities arrested him at the Paris airport as he got off a private jet, which made global headlines. He was detained for four days for questioning and charged with conspiring to allow criminal activities on the app. He has constantly denied these accusations. At that time, he was required to pay a €5 million (USD 5.8 million) bail, was prohibited from leaving France, and was ordered to report to the authorities twice a week. (Golden Finance)

On November 13th, as reported by US media, BNY Mellon is initiating a money market fund specifically crafted for stablecoin issuers who need to adhere to the recent US stablecoin laws. The bank's BSRXX is among the first funds tailored for stablecoin providers. Its aim is to offer them an investment venue to deposit the funds received upon issuing new tokens while complying with the "GENIUS Act" signed into law earlier this year by Trump. This law mandates that issuers of USD-backed digital tokens invest their reserves in ultra-safe investments with a shorter duration compared to traditional money market funds. Stephanie Pierce, the deputy head of BNY Mellon Investment Management, stated that the design of the new fund is intended to meet the law's requirements by holding only securities with a maturity of 93 days or less.

On November 13th, Federal Reserve's Daly said that it is currently too early to claim with certainty whether there will definitely be a rate cut in December or not. (Xinhua News)

On November 13th, the Czech National Bank (CNB) declared the establishment of a $1 million digital asset pilot portfolio, which includes Bitcoin, a US dollar stablecoin, and tokenized deposits. The funds for this purchase are sourced from outside its existing international reserves. The project is intended to test the central bank's process of purchasing, holding, and managing blockchain assets over a period of 2 to 3 years. This investment is not part of the foreign exchange reserves, and CNB Governor Ale? Michl stated that the objective is to explore the potential role of Bitcoin in reserve diversification.

On November 13th, Binance Wallet declared that the airdrop distribution of the Planck Network (PLANCK) token will resume at 21:30 today.

On November 13th, as per Cointelegraph, the Monetary Authority of Singapore declared that only those stablecoins that are fully regulated and backed by reserves can be utilized as settlement assets. Unregulated stablecoins have a rather inconsistent track record when it comes to maintaining their pegs. Furthermore, Singapore is in the process of formulating legislation and expanding the pilot scope of central bank digital currency.