WazirX will favor BUSD, deprecating deposit support for USDC, USDP, and TUSD stablecoins, after an announced deadline.
Existing balances will be converted automatically to BUSD at a 1:1 ratio after October 5th.Withdrawal support for USDC, USDP, and TUSD will discontinue at 5 p.
The decision to transition to greater BUSD support comes after WazirX and Binance last month got into a public spat over the Indian firm's ownership. The dispute, which was precipitated by a money-launderingA 2019 blog post from Binance indicated it had purchased the Indian firm, but Binance co-founder and CEO Changpeng Zhao said after the Indian probe news that his firm never completed the acquisition. WazirX founder Nischal Shetty© 2022 The Block Crypto, Inc. All Rights Reserved.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stablecoin Economy Growth Stagnates for 73 Days, USDC Market Cap Slides 5% Lower – Altcoins Bitcoin NewsDuring the last 73 days, the stablecoin economy’s net value has stagnated seeing little growth since Terra’s UST fallout.
Read more »
Australian Senator Proposes Crypto Bill Targeting China's Digital YuanThe proposal lays out disclosure requirements for banks that could make China's central bank digital currency available for use in Australia, and seeks to set up licensing frameworks for stablecoin issuers.
Read more »
As Ether, Bitcoin Wilt, Trading Firms Blame Lack of Bullish Catalyst for Market SwoonWith the Ethereum Merge out of the way, the focus is back on adverse macroeconomic conditions. Crypto trading firms expect continued selling in risk assets. By godbole17
Read more »
Australian senator drafts bill aimed at stablecoin, digital yuan regulationAustralian Liberal Senator Andrew Bragg has just released a draft bill aimed at regulating crypto exchanges, stablecoin issuers, and entities dealing with China's digital yuan in Australia.
Read more »
African Crypto Exchange Yellow Card Closes $40M Series BAfrican crypto exchange yellowcard_app has closed a $40 million funding round led by crypto-focused VC firm polychaincap. By BrandyBetz
Read more »
Taliban free Navy veteran and engineer Mark Frerichs in prisoner swapBREAKING: The Taliban has released Navy veteran Mark Frerichs in a prisoner exchange for an Afghan tribal leader with ties to the Taliban on Monday, ending Frerichs's captivity after two years. MikeBrestDC reports.
Read more »