Chase U.K. to Block Crypto Payments Citing Fraud, Scams
Starting Oct. 16, the bank will decline customer attempts to make payments related to crypto assets. Source
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Binance plans to delist stablecoins in Europe citing MiCA compliance
An executive at the cryptocurrency exchange Binance said in a public hearing with the European Banking Authority (EBA) that it plans to delist stablecoins for the European market by June 2024. Marina Parthuisot, the head of legal at Binance France, said that since no project has yet to receive approval, “we
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Binance plans to delist stablecoins in Europe, citing MiCA compliance
An executive at cryptocurrency exchange Binance said in a public hearing with the European Banking Authority (EBA) that it plans to delist stablecoins for the European market by June 2024. Marina Parthuisot, head of legal at Binance France, said that since no projects have yet been approved, “we are heading to
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R3 downsizing, lays off 20% of staff citing economic challenges
New York’s blockchain company, R3, has reduced its workforce by over 20% as a cost-saving measure due to lower-than-expected adoption rates in the financial sector. Bloomberg reported that while R3 have seen potential with central banks, other projects didn’t perform as expected, affecting their revenue. In a world of uncertainties, R3’s
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Sam Bankman-Fried’s lawyers request pre-trial release citing poor internet connection
Former FTX CEO Sam Bankman Fried’s lawyers have requested for a pre-trial release citing a lack of adequate internet connectivity in the federal jail. SBF’s legal team argued that poor internet connection is a hindrance in their defence preparation and leads to a loss of time.The court filing dated Sept.
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SEC urges court to grant Ripple Labs appeal citing ‘knotty legal problems’
The U.S. Securities and Exchange Commission has submitted a filing urging the court to grant its motion to appeal a ruling from the Ripple Labs lawsuit that deemed that XRP was not a security when sold to retail investors. The agency argued that there are “knotty legal problems” surrounding the
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Solana-based Clockwork to shutter, citing ‘limited commercial upside’
The developers behind Solana-based smart contract automation project Clockwork is set to turn off key infrastructure for the protocol at the end of October, citing “limited commercial upside."In a series of X (Twitter) posts on Aug. 27, Clockwork founder Nick Garfield Garfield said he and the team will stop active
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Sam Bankman-Fried’s lawyers appeal decision on bail, citing First Amendment issues
Lawyers representing Sam Bankman-Fried, or SBF, have filed an appeal claiming the former FTX CEO’s bail was revoked “in retaliation for him exercising his First Amendment rights” and not witness tampering as alleged.In an Aug. 25 filing in the United States Court of Appeals for the Second Circuit, SBF’s legal
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Tether discontinues Bitcoin stablecoin, citing lack of usage
The issuer of stablecoin Tether (USDT) will discontinue its Bitcoin (BTC) Omni Layer version, citing lack of interest from users. This Bitcoin version of Tether was one of the first stablecoins ever created. The Bitcoin Cash (BCH) and Kusama (KSM) versions will also be discontinued, according to an August 17
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Stablecoin Issuer Tether (USDT) Stops Support for Bitcoin Layer Omni Citing Lack of Demand
"Over the years, the Omni Layer faced challenges due to the lack of popular tokens and the availability of USDT on other blockchains. This led many exchanges to favor alternative transport layers, leading to a decline in USDT usage on Bitcoin using the Omni Layer," Tether said in the announcement. Source
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