Crypto Biz: Coinbase-Circle realignment, Binance fiat hurdles and USDC at Shopify
This week's Crypto Biz explores the latest on Binance's global on- and off-ramps, Coinbase-Circle realignment and Shopify's take on USDC. and blockchain data exchange in China.
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Global regulatory landscapes are once again proving to be a turning point for crypto companies, requiring constant adaptation to navigate shallow regulatory waters across the globe, particularly in the United States.
>In the latest developments, Coinbase and Circle have decided to disband the Center Consortium as part of a strategic realignment driven by demand for regulatory clarity on stablecoins, possibly in anticipation of upcoming legislation from the US Congress.
A legal alternative to maintaining trades was also sought by Binance.US this week. The exchange announced a partnership with MoonPay featuring the dollar-pegged stablecoin Tether (USDT) as a new “base asset” for all transactions, allowing users to transact in US dollars while potentially circumventing potential regulatory hurdles .
In the meantime, Binance Global continues to face on-ramp and exit-ramp challenges. Nearly 30 days before Paysafe ends its support for fiat transactions in Europe, its users in the region are reporting difficulties with fiat withdrawals.
In this environment, quick adaptation is more than a strategy, it's a survival skill. For now, crypto companies are dancing to songs that have yet to be written.
This week, Crypto Biz explores the latest on Binance's global on- and off-ramps, Coinbase-Circle realignment, Shopify's take on USDC, and blockchain data exchange in China.
Binance Limits Withdrawals in Europe, Citing Payment Processor IssuesCustomers of crypto exchange Binance are reportedly facing issues with fiat withdrawals in Europe due to issues with transfers in the Single Euro Payments Area (SEPA). The news comes months after Binance informed users that its euro banking partner, Paysafe Payment Solutions, would...
This week's Crypto Biz explores the latest on Binance's global on- and off-ramps, Coinbase-Circle realignment and Shopify's take on USDC. and blockchain data exchange in China.
Newsletter
Join us on social networks
Global regulatory landscapes are once again proving to be a turning point for crypto companies, requiring constant adaptation to navigate shallow regulatory waters across the globe, particularly in the United States.
>In the latest developments, Coinbase and Circle have decided to disband the Center Consortium as part of a strategic realignment driven by demand for regulatory clarity on stablecoins, possibly in anticipation of upcoming legislation from the US Congress.
A legal alternative to maintaining trades was also sought by Binance.US this week. The exchange announced a partnership with MoonPay featuring the dollar-pegged stablecoin Tether (USDT) as a new “base asset” for all transactions, allowing users to transact in US dollars while potentially circumventing potential regulatory hurdles .
In the meantime, Binance Global continues to face on-ramp and exit-ramp challenges. Nearly 30 days before Paysafe ends its support for fiat transactions in Europe, its users in the region are reporting difficulties with fiat withdrawals.
In this environment, quick adaptation is more than a strategy, it's a survival skill. For now, crypto companies are dancing to songs that have yet to be written.
This week, Crypto Biz explores the latest on Binance's global on- and off-ramps, Coinbase-Circle realignment, Shopify's take on USDC, and blockchain data exchange in China.
Binance Limits Withdrawals in Europe, Citing Payment Processor IssuesCustomers of crypto exchange Binance are reportedly facing issues with fiat withdrawals in Europe due to issues with transfers in the Single Euro Payments Area (SEPA). The news comes months after Binance informed users that its euro banking partner, Paysafe Payment Solutions, would...
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