BNB coin could drop tomorrow since the major crypto exchange will stop the US traders from using their services from tomorrow as per the reports in the latest cryptocurrency news.
A few months ago, the leading crypto exchange Binance announced that it would stop the US traders from accessing the platform and that the new rule will come into effect on September 12th. The traders and analysts are now worried that the BNB coin could drop when this happens. Back on June 14th, the reports showed that the world’s major crypto exchange will be halting the access to the traders from the United States. The US traders will still have access to their wallets and all of their funds but they will no longer be able to deposit or to trade on the platform.
One of the main reasons for their decision is to guarantee full regulatory compliance. Binance was able to quickly act and create another alternative for the traders who want to continue using the platform. They also created the so-called Binance US and according to the CEO of the company Changpeng Zhao, the newest platform will supposedly increase the same speed as well as the same liquidity as the original platform. It is also very important to notice that recently the major crypto exchange partnered with Paxos in order to launch the USD-pegged stablecoin named Binance USD or BUSD. The news that the main platform of the binance exchange won’t let the US traders use the services, will not influence the Binance Coin very well. Back in June, the price of the BNB coin dropped at about 7 percent when the news first emerged. It all went downhill from there and as seen in the charts, BNB is down by more than 45 percent. It also appears that nothing that the exchange is currently doing is good enough to bring the price up.
As per the reports in the altcoin news, the entire situation got even worse when the coin is compared against Bitcoin. In the same period, the BNB coin decreased by more than 52 percent against bitcoin. Now that the trading of the US citizens will be stopped, the real question is if that will be even worse for the cryptocurrency and will it lead to a huge drop in value.
OKEx Korea Delisted Monero, Dash, And Other Privacy-Cryptos Over FATF Demands
“Support for trading of 5 different cryptocurrencies, XMR, DASH, ZEC, ZEN, SBTC, will be terminated.”As the news site reported, the sweeping changes to crypto transaction rules currently demand businesses to identify the two parties which are sending funds to each other - if a transaction exceeds the limit of $1,000.
"According to the statement corresponding to FATF R.16, OKEx Korea has restricted its implementation as the ' travel rule' recommends that exchanges be able to collect relevant information such as the name and address of the sender and recipient of the virtual asset. privacy-oriented cryptocurrency, aka that ' the dark Coin "has decided to take the deal end-of-support measures of the corresponding event," the blog post showing that OKEx delisted the five altcoins shows.This comes in period when more than 200 countries are forced to theoretically implement the rules by June 2020. Still, the altcoin news show that there are concerns that doing so is physically impossible for a lot of decentralized blockchains. Now that OKEx Korea delisted the five cryptocurrencies, all of them make it possible to identify the sender and recipient of a transaction by design. An OKEx representative was also featured on many best cryptocurrency news sites a while ago, telling that the coins will only be delisted on OKEx Korea (OKEx.com.kr) but will remain listed on the global OKEx platform. The value of these coins, as the coming altcoin news show, has remained unchanged.
Ripple Is Selling XRP At Discount To Institutional Buyers
“We would hypothetically have restrictions about what they can sell and how often, and usually those are based upon volume in the market,” Garlinghouse noted.He also talked about the price at which XRP is sold, being featured in the coming altcoin news for his unique response to the interviewer's question:
CNN asked "So you might give them it slightly cheaper but you say to them, ‘hey, you’re not allowed to sell it for six months, let’s say, or a year’,” on which the CEO of ripple replied “Correct, that’s basically correct,” even though the rest of his statement was cut off.Also, the CNN interviewer asked Garlinghouse about the proportion of ownership that Ripple has currently, as well as its amount of power and ability to control the price. The CEO replied that Ripple is still the largest owner in the XRP community and that they would never dump XRP which would go "against their best interest." Garlinghouse also said that the team has "taken steps to lock up most of the XRP we own in escrow, so that we can’t touch it.” https://twitter.com/jchatterleyCNN/status/1172151590763016193 What's also interesting is the fact that in August, the CEO of Ripple has confirmed that Ripple hasn't increased - but instead decreased its sales by volume Q/Q and since then, the inflation rate of XRP and the circulating supply has been lower than the one of BTC and ETH. In value, sales for Ripple increased by 48% which is probably another reason why Ripple is selling XRP with a discounts - to trigger further growth. In either case, the company confirmed that it "plans to take a more conservative approach to XRP sales" in Q3 this year. The interview was featured on many best cryptocurrency news sites.
Square Cash App Is Testing A New Stock Trading Feature: Report
“Just from a business perspective, we don’t look like an Internet company today. An Internet company can launch something and it’s available around the world. Whereas with payments, you have to go to each market and pay attention to regulators. You need a partnership with a local bank. This is a very slow process in any new market.”The new announcement about stock trading features on the Square Cash App has been well received by the crypto community.
Coinbase Pro Excludes UK And New York Traders After Adding Dash
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