Binance transferred to a new set of stable currencies after the Foreign Securities and Exchange Commission (SEC) and adopted the control behavior of the local stable currency. The Foreign Securities and Exchange Commission has already issued a notice of Wells Fargo's work, accusing the US dollar of violating US securities law.
According to the notice of SEC work, the New York City Financial Services Center (NYDFS) ordered Paxos Trust, the US dollar publisher, to stop production altogether and make a new US dollar. The currency ban drives Binance to look for alternative ways to meet its relatively stable currency requirements.
According to On-Chain data, one of the most traded data cryptocurrency exchanges is looking to add TrueU.S. (TU.S.) and provide advertising support for many decentralized stablecoin. Access to the password exchange generated 180 million yuan from February 16 to 24.
TrustToken is the TU.S associated with the US dollar. The network operator behind it has been a Binance partner since June 2019. This partnership enables Binance to buy RMB at zero cost and exchange it for legal currency. Binance and TU.S. The relationship is back to square one. In early September 2022, Binance automatically settled the Australian dollar against the US dollar into Australian dollars to increase its market share. Today, with the ban on the dollar, the Binance has increasingly forged a new T dollar to reduce its relatively stable currency requirements.
Zhao Changpeng, BinanceCEO, said that after the regulatory actions, landing on the password exchange will consider other options and achieve stable investment diversification. Just a few weeks later, Binance announced the application of the decentralized loan contract Liquity (LQTY) and launched the TrueFi (TRU) permanent contract. Tru is mainly the local dynamic password of TrueFi, a decentralized financing protocol for unsecured loans.
In fact, the Binance sale of Liquity and TrueFi gave a big boost to their prices, both of which rose 200% last month. Cointelegraph contacted Binance about its interest in decentralized smooth code, but could not get a reply through the announcement.
With the birth of the native UST of Terra, decentralization is becoming more and more popular. Sales and marketing experts point out that decentralized stability is undoubtedly the next major event in the login password ecosystem. However, with the collapse of the Terra ecosystem in May 2022, people's views on the nascent stationary theory changed rapidly.
The Office of the Comptroller of Monetary Engineering takes the peg and collapse of the UST algorithm to stabilize the currency as an example of the "escape risk" of a stable currency, resulting in a slight peg to a stable currency.
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Tue, 18 Apr 2023