Binance.US is collaborating with MoonPay to enable purchasing and selling cryptocurrency via the Binance.US mobile app simple and quick. Customers may purchase Tether’s USDT stablecoin, which they can later exchange for other cryptocurrencies on the marketplace. Customers may use debit cards, credit cards, Google Pay, and Apple Pay to purchase USDT, which can then be used to quickly buy and trade over 150+ cryptocurrencies on Binance.US. MoonPay offers both on-ramp and off-ramp services, and all customers are subjected to strict KYC procedures. Binance.US clients have been unable to deposit or withdraw funds for more than a month after banking partners severed relations with Binance’s crypto trading business. The Securities and Exchange Commission’s proposal attempts to prevent Binance Holdings staff from accessing Binance. Binance.US cloud infrastructure is still awaiting regulatory certification.
Due to unsolved concerns from the pilot project, Australia will not make a decision on a central bank digital currency (CBDC) for several years. The investigation initiative was launched last year by the Reserve Bank of Australia and the Digital Finance Cooperative research Centre (DFCRC), with funding from business partners, universities, and the Australian Government. According to the publication, an Australian CBDC could facilitate offline electronic payments and allow smarter transactions, making them more cost-effective and risk-free. The article also emphasized the possibility of privately created stablecoins that are completely supported by CBDC. The paper, however, emphasized the need for more research due to legal, regulatory, technological, and operational challenges. The study discovered that obtaining economical and secure key management solutions for organisations operating on different DLT networks was difficult. It was also difficult to integrate a CBDC platform with industrial use case applications, which has repercussions for possible deployment models. Lawmakers and citizens throughout the world have expressed worry about the possible monitoring components of CBDCs, as well as privacy concerns.