COIN BUREAU NEWSFLASH! – (06/09/22) Here are some of today’s m | Coin Bureau Insider
COIN BUREAU NEWSFLASH! – (06/09/22)
Here are some of today’s most important headlines:
Binance To End Support for Trades and Account Balances of USDC, USDP, and TUSD Stablecoins on 29th Sept
According to a statement published by Binance on Monday, the crypto exchange giant is planning to auto-convert users’ existing USDC, USDP, and TUSD stablecoin balances to the exchange’s native BUSD stablecoin. The auto conversion will be implemented on Sept 29 and will also apply to any new deposits of these stablecoins.
The move is reportedly intended to “enhance liquidity and capital-efficiency for users.” The exchange will also remove and stop trading on spot pairs that involve USDC, USDP or TUSD starting from Sept 26.
However, this move will not affect the user’s choice of withdrawal, the exchange will still support the withdrawal of USDC, USDP, and TUSD stablecoins using their BUSD account balance post the auto conversion.
https://www.bloomberg.com/news/articles/2022-09-05/binance-says-it-s-converting-users-usdc-into-its-own-stablecoin
Crypto-Friendly Candidate Liz Truss to Become UK Prime Minister
Liz Truss, the Secretary of State for Foreign, Commonwealth and Development affairs, is set to become the next Prime Minister of the United Kingdom after defeating former Chancellor of the Exchequer Rishi Sunak in a contest to head the governing Conservative Party.
She will be formally appointed on Tuesday after Boris Johnson officially announces his resignation to Queen Elizabeth II. Though Rishi Sunak was more overtly pro-crypto, Truss has also expressed crypto-friendly positions in a tweet from 2018 that reads,
“We should welcome cryptocurrencies in a way that doesn't constrain their potential. Liberate free enterprise areas by removing regulations that restrict prosperity."
https://www.coindesk.com/policy/2022/09/05/liz-truss-to-become-uk-prime-minister-after-winning-conservative-party-leadership/
Crypto Miner Poolin Pauses BTC and ETH Withdrawals, Citing 'Liquidity Problems'
Poolin, one of the world's largest bitcoin mining pools by hash rate, is temporarily suspending BTC and ETH withdrawals from its wallet service due to "liquidity problems." The announcement released by Poolin stated,
"As you may have known, Poolin Wallet is currently facing some liquidity problems due to recent increasing demands on withdrawals. But please be assured, all user assets are safe and the company's net worth is positive. We will make a snapshot of the remaining BTC and ETH balances on pool on September 6th to work out the balances. The daily mined coins after September 6th will be normally paid out per day. Other coins are not affected."
The firm has not given a fixed date for the resumption of withdrawals, instead, it declared that the “time and plans of resume will be released within 2 weeks.”
https://cointelegraph.com/news/crypto-miner-poolin-pauses-btc-and-eth-withdrawals-citing-liquidity-problems
Australian Federal Police Sets Up Crypto Division to Combat Money Laundering, Offshoring
The Australian Federal Police (AFP) has reportedly set up a new cryptocurrency division that will focus on monitoring crypto-related transactions. The move is a part of the country’s efforts to combat money laundering and the financing of criminal activity through cryptocurrencies.
On the matter of setting up the new division, Stefan Jerga, the national manager of the AFP’s criminal asset confiscation command, stated,
“It’s targeting assets, but it’s also providing that valuable, investigative tracing capability and lens for all of our commands across all of our businesses, whether they’re national security-related, child protection, cyber — or the ability to trace cryptocurrency transactions across the relevant blockchains is really, really important,”
https://www.afr.com/companies/financial-services/australian-federal-police-forms-cryptocurrency-unit-to-hit-criminals-20220901-p5bejr
