Today in crypto, Spar shoppers in Zug, Switzerland, can now pay for their groceries in Bitcoin via the Lightning Network, as over 1,000 Swiss businesses have implemented Bitcoin payments, a report from TRM Labs has revealed an uptick in decentralized finance (DeFi) usage in Yemen amid US sanctions targeting the Houthi “terrorist” group, and US President Donald Trump slammed the Federal Reserve chair for delaying rate cuts.Spar supermarket in Switzerland starts accepting Bitcoin paymentsGlobal grocery giant Spar has rolled out Bitcoin-based payments in a Swiss city, marking another step in the growing adoption of cryptocurrency for everyday transactions.A Spar supermarket in Zug, Switzerland, has implemented Bitcoin (BTC) payments via the Lightning Network.The store’s Bitcoin payments went live on BTC Mao, a community-driven project highlighting stores that accept BTC payments, DFX Swiss, a crypto-to-fiat payment solution firm, announced in an April 17 LinkedIn post.“This SPAR location is among the first supermarkets in Switzerland where you can pay directly at the checkout using Bitcoin (via LNURL), thanks to our new hashtag#OpenCryptoPay solution, an open P2P standard for in-person crypto payments,” DFX said.Spar in Zug adopts Bitcoin payment, announcement. Source: DFX SwissSwitzerland has long been regarded as one of the more crypto-friendly European jurisdictions with some of the earliest crypto-adoption initiatives.In 2023, the Swiss city of Lugano adopted Bitcoin and Tether USDt (USDT) payments for all municipal fees, one of the world’s first city administrations to do so.Yemenis are turning to DeFi as US sanctions target Houthi groupYemeni citizens are increasingly using decentralized finance (DeFi) protocols to bank themselves amid US sanctions aimed at the Houthi group, which they have deemed a terrorist organization. DeFi platforms account for most of Yemen’s crypto-related web traffic, taking up over 63% of observed activity, while global centralized exchanges account for 18% of crypto-related web traffic, TRM Labs data shows.DeFi platforms account for most of Yemen’s crypto-related web traffic, followed by centralized exchanges. Source: TRM LabsIn the past, internet infrastructure challenges and low financial literacy among the war-torn population contributed to relatively limited crypto adoption, according to an April 17 report from blockchain intelligence firm TRM Labs.“However, there are signs of growing interest and usage driven primarily by necessity rather than speculation,” the blockchain intelligence firm said. “For those who use cryptocurrencies in Yemen, the ability to bypass the disruption in local financial services offers a modicum of financial resilience, especially as banks can be difficult to access or are simply inoperable due to the ongoing conflict.” Trump blasts “too late” Powell for not cutting interest ratesUS President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, accusing him of being too slow to cut interest rates and escalating a long-running conflict that risks undermining the central bank’s political independence.With the European Central Bank (ECB) cutting interest rates again on April 17, “Too Late” Powell has failed to act appropriately in the United States, even with inflation falling, Trump said on Truth Social on April 17. “Powell’s termination cannot come fast enough!” Trump said.Florida Senator Rick Scott agreed with the president, saying, “it’s time for new leadership at the Federal Reserve.”Source: realDonaldTrumpTrump’s public criticism of the Fed breaks a decades-long convention in American politics that sought to safeguard the central bank from political scrutiny, which includes any executive decision to replace the chair. In an April 16 address at the Economic Club of Chicago, Powell said Fed independence is “a matter of law.” Powell previously signaled his intent to serve out the remainder of his tenure, which expires in May 2026. 

Cointelegraph • Apr 18, 2025 • Found on Glideslope.ai

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