Binance Contemplates Cutting Ties With US Businesses – February 17

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$24,142

Bitcoin price is holding above the $24,000 mark Friday, following yesterday’s brief test of $25,000.

Top-20 altcoins have also cooled off a little, as Ether falls 2%, BNB drops 4% and Polkadot goes against the trend with a 8% rally.

Top Stories for February 17, 2022 🔥

👉 Binance Contemplates Cutting Ties With US Businesses

Crypto exchange giant Binance is reportedly considering cutting ties with its US business partners, as it faces investigations from various government agencies and regulators.

This reportedly includes previous or current investigation by the New York Department of Financial Services, Securities and Exchange Commission, Commodity Futures Trading Commission, Justice Department, and Internal Revenue Service.

CEO Changpeng Zhao is reportedly evaluating its US venture capital investments and considering delisting tokens issued by US-based projects. Binance.US, which serves its U.S. customers independently, has no plans to vacate the US.

👉 SEC Charges Do Kwon And Terraform Labs

The US Securities and Exchange Commission (SEC) has charged Singapore-based Terraform Labs and its CEO Do Kwon over its algorithmic stablecoin, Terra USD, which collapsed dramatically in 2021.

The SEC alleges that the company and its CEO committed fraud and misled investors about the stability of Terra USD. The agency claims the company raised billions by offering an interconnected suite of crypto asset securities, many in unregistered transactions, and used marketing to profit from the “yield-bearing” stablecoin.

The SEC has filed a civil complaint in the US District Court for the Southern District of New York.

👉 Russia Prepares To Launch CBDC Pilot With 13 Banks

The Bank of Russia is launching a pilot for the country’s central bank digital currency (CBDC) on April 1, 2023.

The CBDC will be tested with 13 local banks and several merchants, with a limited number of transactions and customers. The pilot will include real-world digital ruble transactions for individual transfers and payments in trade and service enterprises.

General customers will not be able to participate in the first stage of the pilot. After the first pilot stage, the Bank of Russia plans to determine how to scale the digital ruble further.