Binance has made the decision to discontinue its spot trading bot services. This move comes as the cryptocurrency exchange faces increasing regulatory scrutiny and legal challenges from authorities in various jurisdictions.
The European Union's forthcoming cryptocurrency regulation known as MiCA is scheduled to be implemented next year. It aims to establish a regulatory framework specifically for stablecoins operating within the EU.
The CEO of Binance has emphasized that challenges in converting traditional fiat currencies, such as the dollar, into cryptocurrencies pose a significant obstacle in attracting the next 100 million users to the platform.