Today in Crypto: Germany's Financial Watchdog Reportedly Decides Against Granting Binance a Custody License, Binance to Lose Support of Its Euro Banking Partner, Slovakia Reduces Crypto Taxes

Crypto News
Crypto News

29 Jun 2023 3:00 PM

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  • Germany's financial watchdog, BaFin, has reportedly decided against granting Binance a custody license.
  • Binance's European banking partner, Paysafe Payment Solutions, will no longer offer its embedded wallet solution to the cryptocurrency exchange in the European Economic Area (EEA).
  • The European Central Bank (ECB) plans to explore financial market settlement using distributed ledger technology (DLT) in 2024 and is considering the development of a retail central bank digital currency (CBDC).
  • China's Digital Currency Research Institute, responsible for developing the digital yuan, gave excessive pay rises to its staff in 2020, according to an audit report.
  • Slovakian lawmakers have voted in favor of reducing the taxation of cryptocurrencies.

The sentiment in the article is mixed, with negative news regarding Binance's custody license and the loss of support from its banking partner, but positive news about the ECB's exploration of DLT and the reduction of cryptocurrency taxation in Slovakia.

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You May Ask

Why did BaFin decide against granting Binance a custody license?What will be the impact of Paysafe Payment Solutions ceasing its wallet solution for Binance?What is the timeline for the ECB's exploratory work on financial market settlement using DLT?What is the purpose of the retail central bank digital currency (CBDC) being developed by the ECB?Why did China's Digital Currency Research Institute give excessive pay rises to its staff in 2020?

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