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Ripple CTO David Schwartz recently joined a conversation sparked by longtime Bitcoin advocate Bruce Fenton about why Bitcoin isn’t really used for day-to-day transactions anymore. Fenton, CEO of Chainstone Lab, pointed out that about ten years ago, you could actually use BTC for regular purchases. He mentioned that back in 2015, over 130 restaurants in Portsmouth, NH, were accepting Bitcoin. Even at the Satoshi Roundtable , a major crypto conference, more than 70% of ticket sales were paid in Bitcoin back then. But now, those numbers are close to zero. Fenton sees this decline as a failure. He argues that money must be used for transactions, not just held as an investment. “Using Bitcoin for purchases is a great way to grow the network,” he said. Many believe Bitcoin’s high fees and slow transaction speeds have made it impractical for payments. Mandrik, a Bitcoin user, suggests that people now view it as a long-term asset. “They don’t want to look back in five years and regret spending $5,000 on a cheeseburger,” he said. Ripple CTO David Schwartz argued that Bitcoin worked for payments when people didn’t consider it real money. He added that Bitcoin was mostly used for payments when the early adopters got it super cheap. Once its value went up, fewer people wanted to spend it. “Once the supply of early miners who got Bitcoin nearly for free dried up, there was no longer any reason to pay with Bitcoin,” Schwartz said. Meanwhile, Jack Mehof, an early Bitcoin supporter, echoes Schwartz’s perspective. He stated that while he once paid for beer, tacos, and coffee with BTC. But eventually, the rising costs and slow speeds made it too much of a hassle. Schwartz also pointed out that there are many other cryptocurrencies out there with lower transaction costs and faster speeds. But, as he pointed out, “You don’t see much retail payment use of those either. At least not yet.“ Related: Donald Trump Makes History by Embracing Bitcoin Payments for Campaign Some experts believe Bitcoin’s decline as a payment method is more about regulations than technical limitations. Wayne Vaughan argues that tax laws and banking restrictions have made Bitcoin payments difficult. “The tax treatment of Bitcoin is a major barrier. Companies accepting Bitcoin faced significant accounting burdens, and banks have been incredibly hostile,” he said. Dave Weisberger agrees , saying that capital gains taxes make spending Bitcoin too expensive. “Every purchase effectively costs 24% more due to capital gains taxes,” he explained. Sam Jones added that a tax exemption for small Bitcoin transactions—similar to foreign currency rules—could encourage more spending. Some blame the Lightning Network for failing to deliver on its promise of cheap and fast transactions. Meanwhile, some argue Bitcoin’s primary role has shifted to being a store of value, similar to gold. Related: Veteran investor Breaks Down Bitcoin’s Bull Run: Miners, Investors, and What to Expect Next for the Price Even with regulatory fixes, some question whether Bitcoin payments will ever compete with traditional methods. Anders, a financial advisor, believes fiat remains the more convenient option. “People aren’t going to use Bitcoin if it creates a worse payment experience,” he said. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The president of the Russian central bank has drawn ridicule while trying to rein in bitcoin. While the European Central Bank remains harsh towards bitcoin, the Russian one is not lagging behind. Its president, Elvira Nabioullina, proposes to “reserve it for the wealthiest individuals,” in a context where the gap between the EU and the United States regarding bitcoin is widening . This is reported by the Moscow Times about the international payments that the Russian central bank is making in bitcoins to circumvent the Western financial embargo. Bitcoin proves to be a very valuable ally while waiting for international tensions to ease. These BTC payments are open to banks, insurance companies, and investment funds. However, individuals need an annual income exceeding 50 million rubles (580,000 dollars) to benefit from it. Of course, this restriction only concerns this “experimental system“ hijacked by the central bank. Buying bitcoins is absolutely not prohibited in Russia. That said, businesses are not allowed to accept it as payment. Like Christine Lagarde, for whom bitcoin is “a way out”, Elvira Nabioullina prefers the CBDC. It has existed since last year, but nobody is using it. This distrust contrasts with the opinion of Vladimir Putin, who stated a few months ago: Who can ban bitcoin? No one. Whatever happens to the dollar, these new technologies will develop in one way or another. Is it to preserve the margins of payment companies like Visa, Mastercard, or MIR (Russia)? Probably not, since bitcoin is far from competitive: 6 dollars on average per transaction in 2024. Visa and Mastercard, for their part, take 0.3% on each card transaction (it’s much more outside of Europe and the United States). Their payments are therefore much cheaper in the overwhelming majority of cases. Of course, it is possible to use the Lightning Network (LN) . Fees are 0.02% on average for transactions valued between 100 and 1000 euros. It’s 0.24% for transactions between 1 and 10 euros. Unfortunately, we would have difficulty using the Lightning Network simultaneously. The reason being that depositing bitcoins into your LN wallet requires first completing an “on-chain” transaction. In other words, it would take 50 years for each human to make a single transaction… Transaction fees would explode with every enthusiasm for the LN, preventing any lasting enthusiasm. So there is not much to fear. Bitcoin can only remain a marginal payment currency due to the limit of 1 MB per block, which is at the heart of its decentralization. Moreover, bitcoin cannot replace banks. For that to happen, governments would first have to agree to abandon their money printing presses. Unlikely, but let’s assume that’s the case. Let’s imagine bitcoin is the one and only currency on earth. Let’s engage in a thought experiment by asking how to finance the six EPRs for which the bill is estimated at 70 billion euros. Under normal circumstances, EDF would go to borrow from BNP Paribas, which would create these billions ex nihilo. These billions would then be destroyed as EDF repays them (except for interest, of course). That is the functioning of the “fiat system”. But how to do that if the amount of money in circulation is fixed? How to find the equivalent of 70 billion in BTC? It would literally require persuading 7 million French people to each lend the equivalent of 10,000 euros for 15 years. The scaling-up seems very difficult. Creating money ex nihilo appears essential for any complex society. Not to mention the energy resources. Standard of living = Productivity = machines = energy (and especially oil). Without the abundant and inexpensive energy that productivity requires, wages cannot keep up with inflation exacerbated by the overflowing debts of governments. All this to say that central banks have nothing to fear from bitcoin. Its low transaction throughput and fixed money supply prevent it from replacing payment companies and banks. Its superiority lies elsewhere. Above all, bitcoin allows one to protect against inflation, which disproportionately affects those who cannot afford rare assets like premium real estate. Conversely, anyone can appropriate the best store of value in the history of humanity (bitcoin). It doesn’t matter whether you have a million euros, 10,000 euros, 1,000 euros, or 100 euros in savings. Bitcoin is poised to become the universal reserve currency. And that’s already a lot! Don’t miss our article: Bitcoin – Soon a Russian strategic reserve?

Hashdex has filed an amendment with the U.S. Securities and Exchange Commission (SEC) to include Litecoin (LTC) in its Nasdaq Crypto Index US ETF. If approved, this change would broaden institutional investment opportunities for Litecoin and represent a significant step beyond the current focus on Bitcoin and Ethereum in similar investment products. The Litecoin Foundation shared the filing on X, emphasizing its importance to the LTC community. The ETF tracks the Nasdaq Crypto Settlement Price Index (NCIS), which was previously named the Nasdaq Crypto US Settlement Price Index (NCIUSS) before a rebranding. Since its launch in 2011 by Charlie Lee, Litecoin has established itself as a crypto for faster transactions and lower fees compared to Bitcoin. Institutional interest in Litecoin has steadily risen, with investors recognizing its strong network security, liquidity, and use as a store of value. While Bitcoin and Ethereum have been the primary focus of crypto ETFs, Litecoin’s inclusion in Hashdex’s ETF highlights increasing confidence in the project. Through an ETF structure, Litecoin would become more accessible to traditional investors who prefer the regulated environment of financial products over the complexities of direct cryptocurrency ownership. Related: Litecoin ETF From Canary Capital Gets Listed on DTCC: LTC Price Impact Analyzed The Nasdaq Crypto Index US ETF is designed to provide diversified exposure to the cryptocurrency market by tracking a basket of digital assets through the Nasdaq Crypto Settlement Price Index. Its Net Asset Value (NAV) is calculated daily, reflecting the total market value of its assets. Hashdex currently charges a 0.50% annual management fee for the ETF. However, a temporary reduction to 0.25% per annum is in effect until December 31, 2025. The trust also covers operational costs such as brokerage fees, exchange fees, and custody services, while Hashdex handles regulatory and administrative expenses. With Litecoin added to the index, the ETF could attract more investors looking for broader crypto exposure. This move highlights the growing acceptance of altcoins in mainstream financial products. Related: Litecoin ETF Could Beat XRP in ETF Race, Despite Multiple SEC Filings Besides Hashdex’s ETF, other asset managers like Canary Capitals are seeking spot ETFs around Litecoin. Interestingly, Bloomberg analysts have given this product a 90% chance of approval. As of this press time, Litecoin is trading at $90.14, a 2.8% dip in the past day. Its price has been fluctuating in recent weeks as political and economic factors disrupt the market. Notably, the asset has now seen a 32% loss in the past month. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The U.S. Securities and Exchange Commission is considering rolling back a proposed rule that would impose stricter custody requirements for investment advisors handling cryptocurrencies. Acting SEC Chair Mark Uyeda announced the potential reversal during an industry conference in San Diego on Monday, citing concerns over the rule’s broad scope and compliance challenges, according to Reuters reporting . The custody rule, proposed in February 2023 under the Biden administration, would require registered investment advisors to store crypto assets with a qualified custodian while meeting additional safeguards. Uyeda acknowledged that public feedback raised significant objections, prompting the agency to explore alternative approaches. Uyeda also indicated that the SEC is reviewing a separate rule requiring mutual funds and exchange-traded funds to report their portfolio holdings monthly instead of quarterly. The regulation, adopted in August 2023, aimed to enhance transparency, but industry feedback has highlighted concerns — particularly regarding the role of artificial intelligence (AI) in trading strategies. These moves reflect a broader shift in SEC policy under the Trump administration, which has already reversed several crypto-related initiatives introduced under former Chair Gary Gensler . The SEC recently rescinded accounting guidance for crypto firms, dropped enforcement actions against industry players, and established a crypto task force to assess regulatory priorities. With former SEC Commissioner Paul Atkins set to take over as chair, Uyeda’s push for regulatory revisions signals a more industry-friendly stance, particularly toward digital assets and financial institutions wary of stringent compliance demands.

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