Central bank China attacks 11 crypto firms, new ETF for Galaxy Digital and US mortgage lender to accept BTC

‘Second-largest mortgage lender in US to accept Bitcoin’

United Wholesale Mortgage (UWM), previously known as United Shore Financial, the second-largest mortgage lender in the U.S. that facilitated nearly $183 billion worth of loans in 2020, announced that it plans to start accepting cryptocurrency payments by the end of 2021.

Per Detroit Free Pressreport, the upcoming move was first revealed by the company’s CEO Mat Ishbia during an earnings call on Monday.

“We’re excited that hopefully (this year) we can actually execute on that before anyone in the country.”

UWM aims to first add support for Bitcoin, but Ethereum and other altcoins are also on the table, Ishbia told the outlet.

Galaxy files for ETF that provides indirect exposure to bitcoin

Galaxy has filed with the Securities and Exchange Commission (SEC) for an exchange-traded fund that will invest in products with indirect exposure to bitcoin.

The Galaxy Bitcoin Strategy ETF won’t provide any direct exposure to cryptocurrencies, according to its N-1A.

“The Fund does not invest in, or seek direct exposure to, the current “spot” or cash price of bitcoin. Investors seeking direct exposure to the price of bitcoin should consider an investment other than the Fund.”

Source: The Block Crypto

Central bank China clamps down on 11 crypto firms

China has taken a decisive stand against the crypto industry in recent months. Yesterday, that continued when the Shenzhen branch of the People’s Bank of China, China’s central bank, reportedly “cleansed” 11 companies for illegal cryptocurrency activity.

According to the state-owned outlet the Shanghai Securities Journal, the Shenzhen branch of the PBOC plans to “rectify” those 11 companies that were “suspected” of “carrying out illegal virtual currency activities.”

The Shanghai Securities Journal also suggested the PBOC will carry out a “pilot project” aimed at educating financial consumers about technology and preventing risk.

Source: Decrypt

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