<\/p>\n
Coinbase sent Canadian users an email on Thursday and announced it would suspend their ability to trade for the stablecoin Tether at the end of August.<\/p>\n
\u201cWe regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading in Canada for RAI Reflex Index (RAI), Dai (DAI), and Tether on Aug. 31 around 12 pm ET,\u201d a Coinbase spokesperson told Blockworks via email.<\/p>\n
\u201cThe trading suspension will not affect customers\u2019 access to RAI, DAI or USDT wallets which will remain available for deposit and withdrawal functionality after the trading suspension,\u201d the firm continued.<\/p>\n
Earlier this week, Coinbase announced that it was \u201caccelerating\u201d its international expansion with a Canadian launch<\/a>.\u00a0<\/p>\n \u201cCanada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework,\u201d Coinbase\u2019s Nana Murugesan said in a statement.\u00a0<\/p>\n The operator behind the stablecoin USDT also announced some changes on Thursday.\u00a0<\/p>\n Tether (USDT<\/a>) detailed a \u201cstrategic transition\u201d and is discontinuing support for \u201cKusama, Bitcoin Cash SLP and Omni Layer implementations.\u201d Omni stands out, as it was the first layer Tether used when it was known as Realcoin in 2014.<\/p>\n \u201cHowever, over the years, the Omni Layer faced challenges due to the lack of popular tokens and the availability of USD\u20ae on other blockchains,\u201d Tether<\/a> said in a post.<\/p>\n Starting Aug. 17, USDT-Omni, USDT-Kusama and USDT-BCHLSP will stop minting. However, all three will be redeemable \u201cas normal\u201d for the next 12 months.<\/p>\n Bitfinex and other platforms will still allow the pairs swap for other chains.<\/p>\n \u201cWhile this shift signifies a transition, the focus will now be on directing resources toward the development of RGB, which is a client-side validated state and smart contracts system that operates on layer-2 and 3 of the Bitcoin ecosystem,\u201d the post said<\/a>.<\/p>\n Tether reported around $73 billion in exposure to US Treasury bills in its second quarter attestation, with excess revenues of $3.3 billion<\/a> as of June 30.<\/p>\n Get the day\u2019s top crypto news and insights delivered to your email every evening.\u00a0Subscribe to Blockworks\u2019 free newsletter<\/a>\u00a0now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can\u2019t-miss tweets and more from\u00a0Blockworks Research\u2019s Daily Debrief<\/a>.<\/strong><\/p>\n Can\u2019t wait? Get our news the fastest way possible.\u00a0Join us on Telegram<\/a>\u00a0and follow us on\u00a0Google News<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Coinbase sent Canadian users an email on Thursday and announced it would suspend their ability to trade for the stablecoin Tether at the end of August. \u201cWe regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading in Canada for RAI […]<\/p>\n","protected":false},"author":2,"featured_media":138680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-138679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138679"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138679\/revisions"}],"predecessor-version":[{"id":147996,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138679\/revisions\/147996"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138680"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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