Binance Coin is Going to Zero as $500 Million Sends BNB Price Lower While Green Crypto Ecoterra Just Raised $5.5 Million – What Does it Do?
Binance, the leading cryptocurrency exchange, has changed its initial decision to delist several privacy coins in Europe.
This comes after the exchange revised its operations to ensure compliance with European Union (EU) regulations.
Binance stated, "After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements."
The exchange is bound by the laws and regulations of the European Union jurisdictions in which it operates. As per these regulations, the exchange is obligated to perform transaction monitoring for all the coins that are listed on the platform.
This reversal has led to assurances from various crypto projects on social media, confirming their continued listing on Binance.
In a bid to establish itself as a prominent hub for digital assets and cryptocurrency, the European Union is making progress in refining its standards for these assets. The Markets in Crypto-Assets (MiCA) regulations, which were recently approved on May 31, are a part of this effort.
With these regulations, EU policymakers seek to create a transparent and conducive environment for digital assets, thereby making Europe an attractive destination for cryptocurrency and digital asset-related businesses.
In light of recent events, Binance Coin (BNB) has experienced a drawback after failing to break out from the 20-day EMA at $250.5 and the Fib 0.3872 level at $257.5.
The cryptocurrency has since retreated, breaking down below the Fib 0.236 level at $243.4.
Technical indicators suggest further downside for BNB, with key levels including a 20-day EMA of $250.5, a 50-day EMA of $273.4, and a 100-day EMA of $288.6.
The RSI stands at 35.01,
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