Binance’s EU services face scrutiny over licensing exemption: Report
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Binance has completed the integration of the Solv Protocol (SOLV) into its ERC20 network and opened deposit and withdrawal services.
PANews reported on July 8 that Binance has completed the integration of Solv Protocol (SOLV) with the Ethereum (ERC20) network and has opened deposit and withdrawal services.
Binance will delist TST, IOTX leveraged lending and borrowing services on July 10.
According to BlockBeats, on July 6, Binance announced that it will delist all leveraged trading pairs of TST (Test) and IOTX (IoTeX) on July 10 at 10:00 (UTC) and terminate related lending services. Binance will suspend leveraged lending for the aforementioned tokens at 10:00 AM (UTC) on July 7th. Starting at 10:00 AM (UTC) on July 10th, the platform will close all isolated margin and cross margin leveraged positions, automatically settle outstanding debts, cancel pending orders, and remove the relevant leveraged trading pairs. Simultaneously, Flexible Loan and VIP Loan will automatically close any outstanding lending positions involving the aforementioned tokens.
The Hong Kong Securities and Futures Professionals Association met with regulators to discuss issues related to the operating costs of virtual asset platforms.
According to Foresight News , the Hong Kong Securities and Futures Professionals Association (HKSFPA) held a meeting on July 3 with Mr. Chan Ho-lim, Under Secretary for Financial Services and the Treasury, the secretaries-general, Mr. Yip Chi-hang, Executive Director of the Intermediaries Division of the Securities and Futures Commission, Ms. To Yee-wah, Senior Director, and Ms. Wong Lok-yan, Director and Head of the Fintech Group, to discuss issues such as new policies on virtual assets, licensing system and operating costs. At the meeting, the Hong Kong Securities and Futures Professionals Association highlighted the high operating cost pressures currently faced by Virtual Asset Platforms (VATP), including the monopoly of Hardware Security Module (HSM) supply, restrictions on the ratio of cold and hot wallets, excessively high insurance coverage requirements, and on-chain transaction miner fees. They urged regulators to flexibly adjust relevant requirements while ensuring risk control. Furthermore, both sides exchanged views on issues such as the delineation of regulatory boundaries, license approval efficiency, timelines for approving innovative products, and the division of regulatory responsibilities for VA Payments.
EU Presses Binance Over ‘Reverse Solicitation’ Exemption for Users: Report
Regulators are probing how the exchange keeps serving EU customers from Abu Dhabi, months after it lost its MiCA registrations.
ECB defends digital euro privacy as CBDCs face global scrutiny
Piero Cipollone said the Eurosystem would not identify digital euro users as central bank digital currencies face privacy concerns worldwide.
Binance to plan UK relaunch with FCA license application: Report
Binance’s UK arm has been barred from offering regulated activities in the country since June 2021, but the company will reportedly move to secure licensing under new crypto rules.