Blockchain.com is among the latest crypto-related companies to delist BSV from its platform. As one of the oldest crypto wallet services provider, the company joined the campaign. Let’s check our latest cryptocurrency news today to find out what the platform had to say.
CEO of Blockchain.com Peter Smith posted on Twitter about his reasons behind the delisting of Bitcoin Satoshi Vision altcoin:
Smith told CCN:
“We added support for close out (only) transactions (i.e. sell, send) for BSV in January and encouraged users to sell or take their BSV to another platform. We felt it was important to respond to users requests to enable access to their BSV tokens and build a limited way to do so without a long-term commitment to BSV. “
Blockchain.com informed all of its users that they will no longer provide support for the BSV altcoin in their wallet. The company pointed out that they are looking to build a healthy crypto ecosystem and to support reliable cryptocurrencies. They claim to have been monitoring BSV’s activity closely since the hard fork in November.
Blockchain.com pointed out that the team considered carefully and determined to end the support for the BSV token on their wallet platform. The company also encouraged people to sell their Bitcoin SV for other tokens:
‘’If you have BSV, we recommend simply swapping it for another crypto in the Blockchain Wallet or sending your tokens to another service.’’
According to polls, about 70 percent of the users believe that the Bitcoin SV is ‘’toxic.’’ Many other exchanges are trying to follow the Binance path since the exchange was the first to delist BSV. For example, Coinbase and Gemini never listed Bitcoin SV. They have issued complaints against BSV until the Coinbase wallet also decided to stop holding BSV just as Blockchain.com
Gemini, on the other hand, has a small array of coins since it is strongly following the guidance of the New York Department of Financial Services.
Binance Removes US Resident Ban: Launching In “A Month Or Two”
“3. Prohibition of use By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.”When comparing the wording to the one uploaded in June, it is clear that Binance removes US resident ban. The previous text read that "Binance is unable to provide services to any U.S. person," - which is why the difference is obvious.
China’s Digital Fiat Currency Is Not A Real Cryptocurrency
“Since last year, the staff at the Digital Currency Research Lab have been working 996 to develop the system. We can say the CBDC is now ready to launch at one’s call," was his speech, later shared by many best cryptocurrency news sites.The CBDC with this aims to replace MO, meaning cash in circulation through a two-tier system. The central bank will issue the digital yuan only to commercial banks, who will further issue it to the public. Meanwhile the PBoC and its Digital Currency Research Lab are the ones standing behind China's digital fiat currency - along with more than 50 patent applications which are all either invented or co-invented by Yao Qian. One patent application reads:
“The emergence of digital currency is an inevitable trend. So far, privately issued digital currency bears the features of anonymity and volatility. Central banks must take their impacts on the payments, monetary systems and financial stability seriously. As such, it’s inevitable for central banks to push for digitized fiat currencies to optimize their circulation.”However, physical cash is still arguably the only form of fiat money inside China that can remain anonymous. We can see that China's digital fiat currency is not close to cryptocurrency - and the only third-party methods which are compared to bank wire can be offered by companies like Alibaba or WeChat - both requiring real-name verification authenticated by users' IDs as well as additional banking information.
“Existing M0 (banknotes and coins) are subject to counterfeit and money laundering risks. … The [CBDC] system should follow the existing rules about anti-money laundering and anti-terrorism financing imposed on cash, and should report to the PBoC on large amounts and suspicious transactions,” Mu emphasized in a speech.
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"Although many of the technicals like RSI, and position relative to moving averages looks like XRP is severely oversold and could bounce, traders should be cautious because the token has been falling out of favor with many crypto market participants, and there are many competing projects with similar characteristics and arguably a much better value proposition that have come to market."
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