Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. Crypto may move to non-dollar stablecoins</h2>Crypto will “probably” start using euro, yen, or Singapore dollar based stablecoins in the future, reducing its reliance on US dollar based stablecoins, according to Binance CEO Changpeng Zhao.He argued that the US government’s recent actions against US dollar stablecoins may lead the global crypto industry to rely on other currencies.CZ also said that algorithmic stablecoins may play a larger role in the crypto ecosystem going forward.However, he cautioned that algorithmic stablecoins are “inherently gonna have risks” that fiat backed stablecoins don’t have.Source: <a href="https://cointelegraph.com/news/binance-ceo-crypto-industry-will-probably-move-to-non-dollar-stablecoins" rel="noopener noreferrer nofollow">Cointelegraph</a><h2 id="header-1">#2. Circle squashes rumours of incoming SEC enforcement action</h2>Stablecoin issuer Circle denied rumors that it received a “Wells Notice” over USDC.Fox Business reporter Eleanor Terrett claimed Circle had been ordered by the U.S. SEC to cease the sale of USDC, due to the stablecoin being an unregistered security.The rumor was swiftly rebuffed by Dante Disparte, chief strategy officer and head of global policy at Circle Pay.A Wells Notice is a formal notice sent by the SEC informing the recipient that the agency plans to bring enforcement actions against them.Source: <a href="https://cointelegraph.com/news/circle-squashes-rumors-of-planned-sec-enforcement-action" rel="noopener noreferrer nofollow">Cointelegraph</a><h2 id="header-2">#3. Blur launches token airdrop</h2>NFT marketplace Blur has begun its airdrop of BLUR tokens to reward Ethereum NFT traders. The marketplace has awarded the token allotments in three waves to date.Anticipation for the airdrop has fueled Blur’s rise over the last few months, with the marketplace sometimes topping OpenSea in terms of NFT trading volume.However, data from analytics platform Dune suggests that about 13% of Blur trades are classified as suspected wash trading, compared to about 2% for OpenSea.Source: <a href="https://decrypt.co/121280/blur-token-airdrop-ethereum-nft-traders" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-3">#4. 684 million BUSD burned for redemptions</h2>Paxos has burned 684 million of the BUSD stablecoin for U.S. dollar redemptions, on-chain data show.After Paxos received a Wells notice from the U.S. SEC, it has ceased distributing the stablecoin. Dollar parity redemptions for BUSD will be supported through at least February 2024.To facilitate redemptions, Paxos sends BUSD to a burner address to destroy the tokens. The smart contract then refunds U.S. dollars to users from the stablecoin reserves.Source: <a href="https://www.theblock.co/post/211703/684-million-busd-burned-for-redemptions-amid-us-regulatory-scrutiny" rel="noopener noreferrer nofollow">The Block</a><h2 id="header-4">#5. South Korea’s crypto firms will have to self-regulate</h2>South Korea&#39;s financial regulator has defined security tokens as tokens that are digitized using distributed ledger technology.Thus, the onus will first fall on firms to regulate themselves. They will have to determine whether or not a token is a security by going through their own classification and assessing their related tokens.Firms without securities-related licenses will have to go through the process of obtaining licenses.Legislators will next reshape key existing laws to cover security tokens.Source: <a href="https://www.coindesk.com/policy/2023/02/15/south-koreas-crypto-firms-will-have-to-self-regulate-under-new-guidance/" rel="noopener noreferrer nofollow">CoinDesk</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/cmccommunity" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/ApolloX_Finance" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_Finance" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXFinance" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_finance/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://coinmarketcap.com/community/profile/ApolloX" rel="noopener noreferrer nofollow">CMC</a>

Crypto News of the Day: Circle denies receiving SEC enforcement notice, 684M BUSD burned for redemptions

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