3 reasons why Binance’s BNB token risks sliding further by March
A slew of technical, fundamental, and on-chain indicators hint at more pain for BNB price in February. Go to Source Powered by WPeMatico
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South Korea’s Second-Largest City Aims to Become a Crypto Hub
South Korea’s second-largest city, Busan, is making efforts to become a crypto hub. Busan has been designated by the Korean government as a “super-aged” city, and its officials believe that crypto could help turn things around by attracting young people, tech startups, and investors. South Korean City Wants to Become a Crypto Hub The second-largest … Read more
Bitcoin price clings to $22K as investors digest the recent SEC actions and CPI report
Bitcoin price recaptured the $22,000 level, but pending regulatory action against stablecoins and today’s CPI report are front of mind for many investors. Go to Source Powered by WPeMatico
Rwanda Government Orders Banks to Stop Facilitating Crypto-Related Transactions
According to the National Bank of Rwanda, the country’s regulated financial services providers are now prohibited from facilitating crypto-related transactions. In her Jan. 31 letter justifying the decision, the acting governor Soraya Hakuziyaremye cites the unregulated status of most crypto assets and how this leaves users without the “guarantees and safeguards associated with regulated financial … Read more
Stablecoins not the target in BUSD crackdown: Matrixport head of research
Crypto financial service Matrixport’s head of research believes regulators are not targeting all stablecoins with the regulatory crackdown on BUSD issuer Paxos. Go to Source Powered by WPeMatico
Binance withdrawals and BUSD redemptions surge post Paxos crackdown
Net outflows at the cryptocurrency exchange hit $788 million over the last 24 hours, however, Binance told Cointelegraph that “Funds are SAFU.” Go to Source Powered by WPeMatico
Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security
Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against Paxos and BUSD Following … Read more
Paxos ‘categorically disagrees’ with the SEC that BUSD is a security
Paxos said it will engage with the US securities regulator on the matter and is prepared to “vigorously litigate if necessary.” Go to Source Powered by WPeMatico
Brazilians Will Be Able to Pay Taxes With Crypto
Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is launching the option of paying a set of taxes with crypto, using Bitfy, a Brazilian cryptocurrency startup, as a payment processor, exchanging the cryptocurrencies paid for Brazilian reals on the fly. Brazilians Will … Read more
Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD
According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following day that it would no longer mint BUSD and it was ending its … Read more