Crypto crackdown
Categories: Crypto News
Binance’s woes haven’t been limited to theBinance said it had temporarily suspended euro bank deposits through the Single Euro Payments Area payments scheme, due to “events beyond our control.” “Compliance is a journey – especially in new sectors like crypto,” Zhao said, adding Binance is hiring more compliance staff and localizing operations to better meet its regulatory obligations. It follows a number of steps taken by regulators in China to clamp down on the crypto industry. Several regions in the country have moved to stamp out energy-intensive crypto mining operations, amid concerns over their environmental impact. Earlier this week, Beijing called for the shutdown of a company suspected of providing software for virtual currency transactions, reiterating its tough stance on crypto. Digital currencies rallied at the start to the year, with bitcoin jumping to an all-time high of almost $65,000 in April. But they’ve since fallen sharply, with the overall crypto market losing more than $1 trillion in value in the last two months.