Another week has passed and the latest news on cryptocurrency is seeing this roundup centering on the different scrutinies and problems that crypto operations in the country have faced. One of the top news now is Binance's exit from the Netherlands after missing out on its registration requirements, all while being part of the United States crypto crackdown with SEC's regulations.
(Photo : Tech Times)
On the other hand, a decentralized platform called Nostr has faced a potential ban from Apple for its Damus app for its Bitcoin-like tipping services.
Binance Exits from the Netherlands, Registration Issues
(Photo : Kanchanara from Unsplash)
The massive crypto exchange company, Binance, is no longer available in the Dutch market after its recent announcement that it is exiting the Netherlands last Friday, June 16. This is after the company failed to meet the registration requirements of the country and missed out on what it asked from Binance to continue its operations in the region.
Reports claimed that Binance failed to register in the Dutch country and regulators are demanding the registration from the company. After it failed to meet it, the company has ceased its operations and is now giving its users and investors to withdraw their funds before it shuts down services for good.
This follows Binance's recent Canada exit, as well as Australia and Cyprus.
Read Also: Binance.US Halts USD Crypto Purchases Amid SEC Legal Battle
US Crypto Crackdown and the UK's Rise to Regulations
The United States Securities and Exchange Commission (SEC) centers on cracking down on the crypto exchange platforms today, centering on the latest regulations on the blockchain. One of the top focuses in today's crackdown is on Binance, now facing multiple charges with its alleged operations in the United States which missed out on several licenses and registrations.
It remains one of the hottest topics in crypto regulations in today's time, especially with its goals to level the playing field for all. Moreover, it is not only Binance in hot waters, as Coinbase also faces strict regulations.
Notably, the United Kingdom also centers on crypto regulations and is one of the leading nations in laws and rules on decentralized operations in the country.
Damus Faces Potential App Store Ban
(Photo : Damus)
One of the top trending topics last week was the potential ban that Damus has faced from the Apple App Store for its in-app feature called "Zaps," resembling that of Bitcoin-like tipping. This is something that Apple has frowned upon, particularly for the social media platform's posts for its users, as it allegedly violates the community guidelines of the App Store.
What made this case more interesting is that renowned tech moguls have shared their thoughts against Apple's threats that center on the ban for Damus, with the likes of Jack Dorsey, Tim Sweeney, Elon Musk, and more having shared their concerns.
Damus proposed a solution to this, with its Zaps only appearing on the profile of the user and not on individual posts, but the executives disagree that it is a form of commerce on the social platform.
Related Article: CryptoWatch: Binance's Massive Case with the SEC and How it Affected Crypto Prices
