Global Crypto Developments: ETFs, Government Moves, and Growing Adoption

Crypto keeps changing fast. This week, Thailand made it easier for tourists to pay with crypto, and the US Treasury is thinking about buying Bitcoin. Ethereum funds are pulling in big money, altcoin season might be coming, and new mining tools are out. Still, scams and illegal activity show the risks aren’t going away.

Thailand Launches TouristDigiPay

Thailand has launched TouristDigiPay, a platform designed to make it easier for international visitors to use cryptocurrency during their stay. The service allows tourists to convert digital assets into local currency, helping them avoid traditional foreign exchange hurdles.

However, the platform comes with Know Your Customer (KYC) requirements, ensuring compliance with financial regulations. Authorities expect this move to boost tourism while also maintaining oversight on crypto transactions.

UAE Airlines Accept Crypto

Airlines in the UAE, including Emirates, are expanding their payment options by accepting cryptocurrency for ticket bookings. This shift reflects the country’s ambition to position itself as a hub for blockchain innovation and digital finance. Travelers can now use Bitcoin and other major digital assets to book flights directly.

US Treasury Considers BTC Purchase

The US Treasury is reportedly considering adding Bitcoin to its reserves in an effort to strengthen its position as a cryptocurrency superpower. Analysts believe this could push BTC adoption further among other global financial institutions. If approved, the purchase could set a precedent for other nations to follow.

Ethereum ETF Sees Record Inflow

Ethereum exchange-traded funds (ETFs) experienced a massive capital inflow of $639.6 million, marking the fourth-largest inflow in ETF history. This surge highlights growing institutional demand for ETH, especially following regulatory approvals in key markets. Investors see Ethereum not only as a digital asset but also as a backbone of decentralized finance (DeFi) and Web3 ecosystems.

Coinbase Analysts Predict Altcoin Season

Coinbase analysts predict that an altcoin season may begin in September, driven by renewed investor interest outside of Bitcoin and Ethereum. The analysts argue that capital rotation into smaller-cap tokens often follows periods of BTC and ETH dominance.

With Ethereum ETFs attracting institutional attention, altcoins could benefit from spillover effects. If accurate, September may bring increased volatility and opportunities across a wider range of crypto assets.

Pump.Fun Developer Steals $2M

A former developer at Pump.Fun has been accused of stealing $2 million in Solana tokens. Reports indicate the developer exploited vulnerabilities in the platform’s infrastructure to execute the theft. The incident has sparked discussions about internal security practices and developer oversight in crypto startups. Users have been urged to exercise caution when engaging with lesser-known projects.

Federal Reserve Cancels Oversight Program

The US Federal Reserve has canceled its specialized program designed to oversee banks involved in crypto and fintech. The move has raised questions about the Fed’s long-term regulatory strategy toward digital assets.

Critics argue that dismantling the program could leave gaps in monitoring financial institutions experimenting with blockchain. Supporters, however, claim the cancellation reduces bureaucratic barriers for banks engaging with crypto.

Crypto User Loses $636K in ETH

A crypto investor lost 140 ETH, worth around $636,500, after mistakenly copying an address from a compromised transaction history. The address belonged to a scammer who had manipulated transaction records to mislead victims. Security experts emphasize the importance of verifying wallet addresses through multiple trusted sources before sending funds.

Block Launches Proto Rig

Block, led by Twitter co-founder Jack Dorsey, has introduced a new Bitcoin mining product called Proto Rig. The hardware promises up to 20% cost reduction for miners, making operations more efficient in an increasingly competitive industry.

Dorsey’s company aims to decentralize mining by making affordable, high-performance rigs accessible to smaller players. The move is expected to strengthen Bitcoin’s network security while lowering entry barriers for new miners.

Illegal Mining in Central Asia

Illegal cryptocurrency mining continues to grow in Tajikistan and Kazakhstan, causing major financial losses for local governments. Authorities report that unlicensed miners consume vast amounts of electricity without proper regulation or taxation.

The activity has led to increased energy shortages and grid instability in affected regions. Officials are stepping up enforcement measures, but the underground mining economy remains difficult to curb.

About Paybis

Paybis is a global cryptocurrency exchange platform that provides fast, secure, and user-friendly digital asset transactions. Founded in 2014, the company specializes in fiat-to-crypto and crypto-to-fiat conversions, enabling users to buy, sell, and swap Bitcoin, Ethereum, and other cryptocurrencies using various payment methods, including credit/debit cards, bank transfers, and e-wallets.

With a strong focus on security and compliance, Paybis is registered with regulatory authorities and implements industry-leading AML/KYC procedures. The platform is known for its intuitive interface, 24/7 customer support, and competitive exchange rates, making it a preferred choice for both beginners and experienced traders.

Summary

This week shows both sides of crypto: more adoption and ongoing challenges. Big moves like Ethereum ETF inflows and government talks on Bitcoin are driving growth, while scams and illegal mining remain issues. As crypto expands, rules and security will be key to its future.

Written by

Rem Vasilenko

Rem Vasilenko is a Growth Operations Manager at Paybis. With a keen interest in FinTech, Rem brings a unique perspective to the evolving digital finance landscape. He combines his passion for FinTech with his marketing and business skills to drive innovative strategies. Find him on LinkedIn.