In a statement, Coinbase stated that it would stop trading the Binance Dollar (BUSD) on March 13 due to “listing criteria.” Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime will all be affected by the ruling. The third-largest stablecoin in terms of market capitalization is BUSD. On February 13, Paxos was ordered to stop issuing BUSD by the New York State Department of Financial Services, which caused a $2 billion decline in market worth within days. On February 21, Coinbase is in “productive” discussions with the SEC. News Sorce

Solana Labs’ creator and CEO, Anatoly Yakovenko, has brushed down suggestions that a heavy validator message load and its on-chain voting system are to blame for the network disruptions. According to him, the votes help to simultaneously give an “extraordinary level of security, great throughput, and affordable prices.” According to DBCryptoX, validator messages and on-chain votes make approximately 90–95 percent of transactions on Solana, which are clogging the network. Additionally, they assert that because validators must get together and reach a consensus utilizing off-chain methods, network outages last for 20 hours. Several commenters, however, reject their theory. Cointelegraph’s request for comment from Solana Labs has not received a response. News Sorce

After more than 150,000 ETH were staked in a single day, Lido Finance turned on its safety mechanism known as “Staking Rate Limit.” The “safety valve” replenishes capacity at a pace of 6,200 Ethereum every 24 hours with the intention of restricting the quantity of staked ether (stETH) that can be produced during periods of large inflows. Due to the Staking Rate Limit mechanism, which reduces the total amount of stETH that may be created at any given time depending on recent deposits and restores this capacity on a block-by-block basis, Ethereum is losing $1,637 each hour. According to Lido Finance, one person may have contributed 150,100 ETH, with three deposits of 50,000 apiece and one of 100. Due to the mid-March Ethereum Shanghai upgrade, there has been discussion on possible outcomes for the ETH price. Between the Beacon Chain’s inception and the introduction of staking to ETH in December 2020, $25 billion of ETH has been staked. News Sorce

As many nations have failed to comply with its previous demands, the Financial Action Task Force (FATF) has agreed on an action plan to promote timely global implementation of FATF standards on crypto assets. To ensure that its recommendations are implemented globally, the FATF relies on a network of regional organizations called FATF-Style Regional Bodies (FSRBs). The FATF will produce a report on the efforts that FATF members and FSRB nations with substantially important virtual asset activity have made to impose regulations and oversee virtual asset service providers in the first half of 2024. News Sorce

Block production on the open-source layer-1 blockchain Solana slowed down on February 25 as a result of a validator software update. Around 6:00 AM (UTC), a technical problem forced validators to downgrade to version 1.13 in an attempt to restore transactions. A root cause analysis is still being carried out by engineers. The Solana network is currently restarting, and to resume operations is necessary 80% of active stake online. Following the incident, Solana’s validators talked about a fix for it for a few hours, illustrating how decentralized the network is. News Sorce

IMF makes suggestions for introducing retail CBDCNEWS to Jordan’s central bank. With the conclusion of an International Monetary Fund technical report on the nation’s markets, the Central Bank of Jordan is one step closer to taking the next step toward a retail central bank digital currency (rCBDC). The report gave a largely positive assessment of the nation’s current retail payment market, noting that two non-bank payment service providers (PSPs) have “generally accessible and appropriate product” and that smartphone adoption is high in the nation. The IMF warned to avoid disintermediation in the Jordanian financial system, as it could contribute to instability in times of stress. One of the problems a rCBDC will not address is a persisting cash culture. Another is low financial literacy. News Sorce

Beginning in April, the Central Bank of Russia intends to start testing genuine consumer transactions using digital rubles. The next phase of the pilot project will include more than a dozen banks, and it is intended to begin with payments between businesses and trade organizations. At the initial testing stage, regular customers won’t be able to participate, but after the tests are finished, the regulator will be able to decide how to scale the use of its central bank’s digital money (CBDC). A prototype of the CBDC platform was completed in December 2021, while the digital ruble project was first revealed in October 2020. he CBR is aiming for a full launch of the national digital currency in 2024. News Sorce

The Wormhole protocol hacker was “countered” by Jump Crypto and Oasis.app, who also transferred $225 million worth of digital assets to a secure wallet. The assets were promptly transferred onto a wallet under the custody of the court-authorized third party when the counter exploit was launched using the Oasis Multisig and them. News Sorce