Meanwhile, Binance Japan will also be looking to leverage the country’s revised Payment Services Act. Under the Act, stablecoins backed by legal tender are recognized as an “electronic payment method”.
Former chief of SEC office of Internet enforcement John Reed Stark argued that the rare move by the agency could spell criminal investigation for Binance and the accused persons.
Binance discontinues support for Venezuela’s Banco de Venezuela to avoid sanctions violations, following similar actions with Russian banks.
It is unclear if the restrictions are temporary or going to stay. According to a Binance representative, the exchange was considering all options in regard to the Russian market, including a “full exit”.
The exchange has also inquired about the market makers’ information and their willingness to allocate up to 5% of their circulating tokens to Binance’s saving pools, in exchange of earning interest.
A spokesperson for Mastercard said the termination would kick off on September 22 and is limited to the selected counties only.
Like other debit cards, the crypto debit card is a brainchild of Binance that allows its users to pay for day-to-day goods and services, using funds from their loaded crypto assets.
The Binance Coin (BNB) has recently dropped below its 200-week Moving Average, raising apprehensions regarding potential substantial declines among altcoins.
With the US SEC case against Binance also gathering steam, Binance may be finding it hard to secure banking partners.
Binance has confirmed the news, stating it would shift its focus to its main products and long-term goals.
SEC’s requests have not been limited to the discovery of Binance’s custody, security and availability of customer assets alone.
CYBER’s initial circulating supply is expected to be 11,038,000.
Binance is expanding its presence in Asia. The reports about its potential entrance into Taiwan come after the company re-entered the Japanese market last year.
The injection of $5 million from Binance Labs transcends a simple financial transaction; it represents a collaborative effort focused on strengthening Curve’s security infrastructure and aiding the protocol in recovering its stability.
A fast finality mechanism on the BNB Chain would mean a safer environment for decentralized applications (dApps).