Crypto Regulation, Payment Disruption: Binance Australia in Headlines

• Binance Australia has experienced disrupted banking service due to a payment provider cutting off its service.
• A panel of UK lawmakers suggested that Bitcoin, Ethereum and other cryptocurrencies should be regulated as gambling.
• Coinbase launched a subscription service called Coinbase One and expanded it from the U.S. to the U.K., Germany, Ireland with no trading fees and higher staking rewards.

Banking Disrupted for Binance Australia

The Australian arm of Binance, the world’s largest cryptocurrency exchange, is experiencing disruption in banking services after a third-party payment provider cut off its service. This has led customers unable to deposit or withdraw money from their accounts.

Crypto Should Be Regulated as Gambling?

A panel of UK lawmakers proposed that Bitcoin, Ethereum, and other cryptocurrencies should be regulated as gambling given they are potentially used by fraudsters and pose significant risks to consumers.

Coinbase Launches Subscription Service

Coinbase officially launched its zero-fee subscription service Coinbase One after its beta testing period ended in June 2021 and expanded it to include the U.K., Germany, Ireland in addition to the US market with no trading fees for $29.99 per month plus higher staking rewards for customers who use it longer term .

BTC/USD Price Movement

The BTC/USD pair dropped 2.3% in yesterday’s session with support at 26286.3333 and resistance at 28080.3333 according to the Stochastic indicator which gave a positive signal even though we were in an oversold market .

ETH/USD& XRP/USD Price Movement

The ETH/USD pair fell 1.3% while XRP/USD surged 2.8%, both pairs were also overbought according to Stochastic RSI indicators respectively with ETH having support at 1765.4433 and resistance at 1862.7433 & XRP having support at 0.4259 & resistance at 04723 . The LTC/USD pair plummeted 3 % with support at 87 511 & resistance 98 151 according to the ROC which gave a negative signal even though we were in an oversold market .

Economic Calendar Events Today

Today’s economic calendar includes important events such as US Baker Hughes Oil Rig Count released at 17:00 GMT, Germany’s Producer Price Index released at 06:00 GMT & Japan’s Tertiary Industry Index released 04:30 GMT

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