Crypto.com gives users in excluded countries one week to repay loans
The decision by Crypto.com comes just within a month of BlockFi’s $100 million penalties for its lending products, as many speculate regulatory clampdown could be the potential reason behind the decision. Crypto.com is reportedly giving users from countries restricted from its loan program until March 15 to repay their crypto loans. The firm updated the list of restricted countries to include the United States, the United Kingdom and 38 others. Users from European nations such as Germany, Switzerland and the U.K. have all shared emails from the company regarding the loan closure date. It‘s....
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The exchange is initially available to waitlisted users and will be available to more people soon. Following its immense marketing efforts, Crypto.com finally begins the initial rollout of its services to users in the United States. In an announcement, Crypto.com mentioned that its exchange platform is already available to users who are waitlisted and will be available to more users soon. Currently, the trading platform can only be used by selected institutional investors. However, in the next few months, the exchange will be offering its services to more investors who want to trade using....
Global lending marketplace BitLending Club has announced the shut down of its platform following pressure from regulators. BitLending Club to Enter ‘Minimal Functionality’. The global peer-to-peer lending platform, the blockchain-powered counterpart of the popular P2P loan service Lending Club, is regretfully shutting down. The company announced today: […] Over the last year or so, the regulatory pressures has been increasing to the point that it is no longer feasible to maintain the operation of the platform. The company added that it will retain “minimal functionality,” which will start....
Although the halt has been in effect for about a week now, Chinese bitcoin exchanges Huobi and OKCoin have publicly and formally announced the halt of margin trading, as per the requirements of the PBOC, China’s central bank. OKCoin issued its announcement on its website. A loosely translated version reads: According to requirements of the regulators, the company has made the following rectification: Margin trading services will be stopped immediately. There will be no new margin trading transactions. Users will loans that have already taken place will not be forcibly asked to repay the....
A trader on Aave, a decentralized liquidity protocol operating on multiple platforms, including Ethereum and OP Mainnet, has begun selling wrapped Bitcoin (WBTC) to repay outstanding debt, records on October 13 reveal. WBTC is a tokenized version of Bitcoin issued on Ethereum that allows holders to engage in decentralized finance (DeFi) activities. Trader Selling WBTC To Repay Debt On Aave v2 According to Lookonchain data, the unidentified trader marked with address “0x47ab” borrowed roughly $8 million worth of multiple stablecoins, including USDC, USDT, and DAI, Maker’s stablecoin,....
Philippines-based bitcoin services company Coins.ph now allows its users to repay consumer loans with bitcoin – increasing the number of products Filipinos can buy with digital currency. 70+ Bill Payment Options & Loans. Coins.ph is providing the payment gateway for local consumer finance company Home Credit. Home Credit provides non-cash loans....