Binance Discontinues UK Pound Stablecoin Calling It Just an ‘Experiment’
The exchange is discontinuing its own BGBP stablecoin, an "experiment" that obviously wasn't a success.
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On August 13, the cryptocurrency exchange Binance revealed it is ending a great number of services in South Korea. The company noted in the announcement that it evaluated local regulations and “will discontinue the following offerings in Korea, effective immediately.” Binance Ends Korean Crypto Services Last week, former CEO of Binance US and former acting Comptroller of the Currency, Brian Brooks, announced that he was leaving his position at the exchange. Prior to that HSBC suspended payments tied to Binance and the company also discontinued derivatives products in Hong Kong.....
Binance, the leading cryptocurrency exchange by trading volumes, announced it is discontinuing its derivatives and futures products in Germany, Italy, and the Netherlands. This is likely the consequence of the regulatory crackdown that governments all over the world have exerted on Binance lately. The company also stressed this was the start of a complete plan to wind down their derivatives products offerings across the European region in a now-deleted tweet. Binance Discontinues Derivatives Offering in Germany, Italy, and the Netherlands Binance, one of the biggest cryptocurrency....
The Bank of England (BoE) has signaled openness to softening its regulatory approach to systemic pound-pegged stablecoins after facing backlash from lawmakers and industry leaders over certain proposed policies. Related Reading: Binance Founder Now Richer Than Bill Gates? CZ Reacts To $110B Net Worth Estimate BoE To Revise Stablecoin Regulation Proposal On Wednesday, Bank of […]
A cross-party group of UK lawmakers jointly expressed concerns about the Bank of England (BOE)’s proposal to limit stablecoin holdings in the country, urging Chancellor Rachel Reeves to push back on the controversial policy. Related Reading: ‘No Time To Experiment’: Russia To Establish Strict Crypto Regulations In 2026 UK Lawmakers Fight Stablecoin Cap Plans On Thursday, a […]
Tether Operations, the issuer of the world’s biggest dollar-pegged stablecoin, will launch a new token backed by the British Pound Sterling this coming July, The development follows Tether’s recent roll-out of MXNT, a crypto asset pegged to the Mexican peso. According to a corporate statement released on Thursday, the stablecoin (GBPT) would first be supported on the […]