As Hong Kong has been opening up to crypto, major financial institutions like DBS Group are targeting new crypto services in the Chinese territory. Singapore state-owned megabank DBS Group is planning to expand its cryptocurrency services to Hong Kong as the Chinese territory pushes to become a digital asset hub. DBS Bank plans to apply...Continue Reading

All existing BUSD tokens will remain fully backed and redeemable through Paxos Trust Company by at least February 2024, Paxos said. Blockchain infrastructure platform Paxos will halt issuance of new BUSD (BUSD) stablecoins amid the ongoing probe by the New York regulators. Paxos officially announced on Feb. 13 that the firm will end its relationship...Continue Reading

Binance CEO Changpeng ‘CZ’ Zhao says the exchange will continue to support BUSD despite issuer Paxos being ordered to stop minting the stablecoin by the U.S. SEC and New York regulators. Cryptocurrency exchange Binance plans to continue supporting its Binance USD (BUSD) stablecoin despite its issuer Paxos facing a stop order from American regulators. As...Continue Reading

Members of the community were confused and argued that people buying the stablecoin are not expecting it to go up in value. Paxos and Binance USD (BUSD) being in the sights of United States regulators sparked various reactions from the crypto community.  On Feb. 13, the U.S. Securities and Exchange Commission (SEC) issued a Wells...Continue Reading

The issuance of a CBDC aims to address inefficiencies in cross-border payments and drive innovation for domestic payments. The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program. ...Continue Reading

A New York regulator ordered Paxos to stop issuing BUSD, the third-largest stablecoin by market cap. The New York Department of Financial Services (NYDFS) has reportedly ordered blockchain company Paxos Trust to stop the issuance of dollar-pegged Binance USD (BUSD) stablecoin.  The New York regulator’s actions come shortly after the United States Securities and Exchange Commission...Continue Reading

Huobi has announced the impending closure of its Huobi Cloud Wallet service, citing strategic adjustments for the move. Cryptocurrency exchange Huobi has announced that it will discontinue its Huobi Cloud Wallet platform in May 2023 citing ‘strategic and product adjustments’. As per an announcement on Huobi’s support page, maintenance and upgrades of the multi-token wallet...Continue Reading

Bitcoin price action is making history this week, but for all the wrong reasons, as the 2022 bear market still haunts the charts. Bitcoin (BTC) starts a new week just under $22,000 as bulls fail to reclaim lost ground in February. After some modest volatility towards the weekly close, BTC/USD is still near three-week lows...Continue Reading

Web hosting company NameCheap detected the misuse of one of its third-party services for sending some unauthorized emails — which directly targeted MetaMask users. Popular crypto wallet provider MetaMask warned investors against ongoing phishing attempts by scammers attempting to contact users through NameCheap’s third-party upstream system for emails. On the evening of Feb. 12, web...Continue Reading

One lawyer said that while stablecoins are meant to be stable, buyers may possibly profit from a range of arbitrage, hedging, and staking opportunities. Recently reported planned enforcement action against Paxos by the United States Securities and Exchange Commission (SEC) over Binance USD (BUSD) has many in the community questioning how the regulator could see a stablecoin...Continue Reading