🔥Democrats threaten DeFi ❗PayPal and Venmo + Ethereum Name Service (ENS), 🚨BitGo - WBTC on Avalanche & BNB Chain 👁️UK Regulator- Crypto ATMs

• **Democrats HATE DeFi & Blockchain**: The Democratic side, including Congresswoman Maxine Waters ([Video](https://t.ly/_NJyk)) and Representative Stephen F. Lynch, has expressed strong opposition towards DeFi and blockchain technology. Waters criticized DeFi for its risks, including hacks and scams, and voiced concerns about PayPal’s stablecoin. Other Democrats, like Brad Sherman and Sean Casten, have highlighted perceived risks and regulatory issues with DeFi and blockchain, demonstrating a clear dislike for these technologies.

• **Republicans in Favor**: On the other hand, Republicans, including Congressman John W. Rose, Warren Earl Davidson, and Mike Flood, are more supportive of DeFi and blockchain technology. They have praised the benefits of decentralized systems and stressed the need for innovation in the space. Davidson, in particular, is a notable supporter of Bitcoin and DeFi.

• **ENS Integration**: Ethereum Name Service (ENS) now supports PayPal and Venmo transactions, allowing users to transfer crypto via ENS names instead of wallet addresses. ENS has seen a nearly 5% increase following this announcement. [Info via CoinDesk](https://tinyurl.com/4vteck5x)

• **BitGo's WBTC Expansion**: BitGo is using LayerZero's OFT Standard to enable Wrapped Bitcoin (WBTC) on Avalanche and BNB Chain. This move includes a decentralized verifier network (DVN) to enhance cross-chain transaction security. [Info via Medium](https://tinyurl.com/34aecd64)

• **UK Regulatory Action**: The FCA has charged Olumide Osunkoya for operating unregistered crypto ATMs, marking its first prosecution of this kind. The case highlights ongoing regulatory challenges and risks in the UK crypto space. [Info here](https://tinyurl.com/34aecd64)

**UAE News**:

• **Standard Chartered** has launched Bitcoin and Ethereum custody services in the UAE.

• **DMCC** has launched an AI Centre to drive global AI solutions

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Blockchain DXB: Crypto & Coffee at 8 ☕ 11th Sep 🔥 Democrats HATE DeFi & Blockchain ❗Republicans in Favor? ❗PayPal and Venmo + Ethereum Name Service (ENS), 🚨BitGo - WBTC on Avalanche & BNB Chain 44:52 Share

Blockchain DXB

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Blockchain DXB: Crypto & Coffee at 8 ☕ 11th Sep 🔥 Democrats HATE DeFi & Blockchain ❗Republicans in Favor? ❗PayPal and Venmo + Ethereum Name Service (ENS), 🚨BitGo - WBTC on Avalanche & BNB Chain