Cosmos-based e-Money became the latest stablecoin casualty in the ongoing crypto winter.
on January 9, e-Money — a stablecoin project in the Cosmos ecosystem — said it would discontinue the issuance of its euro stablecoin EURR effective March 6, 2023. In explaining the decision, e-Money wrote:
"The lack of real-world applications for blockchain has led to low demand for non-USD stablecoins. The upcoming European MiCA legislation is expected to hinder the scalability of Euro-backed stablecoins and limit business opportunities in the sector. European MiCA legislation in its current form favors commercial banks as future issuers of Euro stablecoins, hurting innovation in the European Union.
Until the deadline, users can redeem their EEUR by swapping their stablecoins for digital assets such as OSMO, ATOM, or USD Coin on Cosmos decentralized exchange Osmosis . For amounts over 100,000 EEUR, e-Money recommends direct redemption for euros with e-Money A/S."This requires KYC/AML and you should expect around 5 business days for processing. Please contact [email protected] to redeem using this option," the firm wrote.
➡️All stablecoins remain fully backed and can be redeemed. Read our Medium post & select one of the listed redeem options ⤵️
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Pennsylvania man pleads to charge in coffee shop fire amid 2020 protestsA man accused of setting fire to a northwestern Pennsylvania coffee shop during 2020 demonstrations following the death of George Floyd has pleaded guilty to a federal charge of malicious destruction of property by fire.
Consulte Mais informação »
San Diegans protesting Iran honor 176 killed in 2020 Ukrainian International Airlines flightSunday marks three years since a flight from Iran to Ukraine was shot down by Iranian anti-aircraft missiles. Now, public executions continue in Iran amid protests for human rights.
Consulte Mais informação »
Reward offered for information in shooting death of 15-year-old Columbus boy in 2020Dawaun Lewis-Taylor, 15, was found shot on the city's Northeast Side on Sept. 29, 2020. His death remains unsolved and a reward is being offered.
Consulte Mais informação »
Man pleads guilty to setting fire to Pennsylvania coffee shop during 2020 George Floyd protestMelquan Barnett pleaded guilty to setting fire to a Pennsylvania coffee shop during the George Floyd protests. No one was injured in the coffee shop fire.
Consulte Mais informação »
Georgia special grand jury finishes probe of 2020 electionATLANTA (AP) — The special grand grand jury in Atlanta that has been investigating whether then-President Donald Trump and his allies committed any crimes while trying to overturn his 2020 election loss in Georgia has finished its work.
Consulte Mais informação »