Binance’s prime stablecoin Binance USD is on the outs after regulators at both the state and federal level took aim at the company that was issuing one of the most popular stablecoins on the market.
You’ve surely seen one...a big, orange eyesore shoved awkwardly into the corner of your local supermarket or perched ominously near the neighborhood gas station.
“Crypto? Oh, that’s right, cryptocurrencies. Those fake digital coins, right? I remember seeing them at last year’s Super Bowl. Larry David was in one. I thought that commercial was pretty funny. Say, how is that whole crypto thing doing?”
Fraudsters and illicit digital dealers made much less money last year than they did in 2021, though 2022 was still a record year for total stolen in crypto hacks.
It’s 2023 and financial crimes and their consequences have officially come to cryptocurrency. Relatively new on the laundry list of blockchain-based offenses that can lead directly to jail: insider trading.
Korean Central News Agency/Korea News Service via AP
The world’s biggest crypto exchange, Binance, is set to halt transfers to and from U.S. bank accounts beginning Wednesday, February 8.
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