Binance US suspends USD fiat deposit: transition to a crypto-only exchange.

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Can the crypto space be sustainable without inflow of fiat currencies? This is a debatable and complex question, while this could be possible there are certain factors that most be considered for crypto space to thrive without fiat reliance. Crypto adoption and use cases will be a core use factor that will help push this ecosystem to a sustainable future, without real life use case for crypto getting users attention will still be slow, while more development and infrastructure are built into the space daily there are factors from regulators slowing and clamping down everything the space is trying to build with this external pressures slowing down growth in blockchain ecosystem creating viable ways of commercial transactions that will generate service for crypto adoption will be a difficult task ahead of the space, other factors to consider include having a robust decentralized finance (DeFi) protocol that will accelerate lending, borrowing and earning interest rates without depending on centralized finance (CeFi).

The crypto space is still at it early stage which will still make it quite challenging for this space to be sustainable without the impact of fiat currency inflow could there be more reliable way out of this regulatory clampdown well it will a rough ride for everyone in this space for now building and building more sustainable alternative measures that don't necessarily need use of third-party will be one step forward ahead of incoming regulations.

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SEC and binance U.S

Over the week we have seen how U.S Security exchange Commission (SEC) laid allegation against binance US for conducting sales of unregistered token to U S citizen and also claims binance mismanagement of investors funds this had negative impact on the entire crypto market as BTC and other altcoins had push back in price, binance US has responded to this allegations and claim they are false, seems SEC will stop at nothing until its goals are achieved, what could this goals be maybe getting rid of all centralized crypto exchanges in its region will suffice. The SEC has been scrutinizing Binance's operations and potential violation of securities laws. The regulator is concerned about the trading of certain digital assets on Binance's platform, which it believes should be registered as securities. Binance has been working to comply with the SEC's requirements and has made changes to its operations to address the concerns raised. The situation remains ongoing as Binance seeks to resolve the regulatory issues with the SEC.

Inline with the unnecessary market commotion binance US has made a step towards halting all fiat (USD) based transactions from it exchange today on a press release blog the exchange ask all U S based users to withdraw their fiat from the exchange as it will no long accept deposit and withdrawal fiat dollar (USD) from 13th of June 2023. Citing extreme aggressive pursuit from regulators on American digital Assets.

Moving on binance U S will only transact crypto base tokens, will this stop regulatory agencies from imposing more rules on crypto based exchange in U.S? There is little chance of escaping SEC grip even with the new initiated strategy of going fully crypto as long as binance U S operates in U S they will still have to deal with more of SEC issues let's see how this unfold in the future.

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:) :) :) First, I don't believe in the system, have zero trust in it. From that point of view, it is very simple. They said years ago, they want to get rid of FIAT, especially cash. (Also they want to collapse the USD.) And basically what do they do right now? They get rid of FIAT and turning cryptos into CBDCs... :) the rest is just show, some justification to the public...

and if you still have just the smallest trust in the system, you will believe in this show...

anyway, then people will use more stablecoins, what are mostly owned directly or inderictly by banks, already functioning like CBDCs...

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The system is way too corrupt already, crypto stablecoins as well need USD backing as collateral maybe in the future more alternative measures will be available for crypto sustainability with relying on fiat fund.

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this hole cbdc idea (and crypto is not far from that) is basically all about make their scam central banking system permantly stable, unbreakable for the very few in the top. (and probably use even more against people)

so how they change currencies in hyper-inflated countries time by time, they can easily change USD, and from that point stablecoins will be backed by that new something what they introduce (in US the fed's cbdc).

that point, they won't care you want to buy crypto with that new cbdc, as they invisibly can digitally print as much as they want, nobody will know it, you will see the result max on the devaulation of other cryptos. In this way, not even important, that most of the cryptos have max total supply. (or more simply, they will be able to block it automatically, or just pressing a button.)

I have some hope in privacy coins, if the people really would start to daily use them for everything, when they massively will start to bring the cbdcs.

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You're making valid points here i see how this so called leaders are trying to bring down everything built on crypto market with their CBDC strategy well it all depends on the masses will they use the new digital government currency which is gradually been forced on people right now in some countries

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I am a conspiracy nut. :) At least that's how they called me in last 2-3+ years. My theory: they created the BTC and directly, indirectly (by financing) most of the cryptos, as a test for the CBDCs... :) :) :)

first it was just an idea, but it looks more and more possible...

in the west, people will use it, i am sure. maybe africa, south, mid america, middle east not so much, thats just my guess.

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Very interesting need to read through your posts, conspiracy theorists are seen as nuts anyways must be hard to convince people about your idea.

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We will see how it all plays out..
But in my opinion the crypto space will grow exponentially when all the charades are over

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same here. but i dont consider as crypto most of the nowadays cryptos, including btc, eth, hive and almost all the rest. they dont have the most important thing: privacy. they are designed to fail. the others, the nowadays privacy coins and future new privacy as basic projects will wipe them out and grow and grow...

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