Regulatory challenges and market fluctuations prompt Dupay's departure as the crypto sector shifts direction
- Dupay, a crypto payment card firm, shuts down due to regulatory pressures and market volatility, reflecting broader industry challenges. - Canada's $10M stablecoin regulation mandates reserves and transparency, raising compliance costs for smaller crypto firms. - JELLYJELLY token's 224% surge triggered $13M liquidations, exposing risks of high-leverage trading in volatile crypto markets. - U.S. government shutdown disrupts social safety nets, potentially reducing demand for crypto-linked payment solution
Dupay, a crypto payment card company focused on connecting traditional finance with blockchain technology, has revealed it will shut down, attributing the move to increasing regulatory demands and unstable market conditions. This announcement comes as the crypto sector faces heightened scrutiny and unpredictable interest in digital asset services, as detailed in
The company's decision echoes recent regulatory actions in Canada, where authorities have introduced a $10 million plan to oversee fiat-backed stablecoins as part of the 2025 federal budget, first reported by Lookonchain. The updated regulations require stablecoin providers to hold adequate reserves, establish comprehensive risk controls, and maintain clear redemption processes, according to
Ongoing market swings have added pressure to crypto businesses. Recently, the JELLYJELLY token—a
The U.S. government shutdown, which has interrupted programs like SNAP, further highlights the broader economic uncertainties influencing crypto usage, as covered by
Dupay’s shutdown is part of a larger pattern of crypto companies adjusting strategies or leaving the market as regulations struggle to keep pace with technological advances. Canada’s stablecoin rules, which are in line with U.S. efforts to regulate digital payments, reflect a worldwide trend toward curbing unregulated crypto activities, according to
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Update: The Crypto Landscape Shifts as Influencers Depart and Major Institutions Enter
- BSC meme coin KOLs are liquidating holdings amid volatility, triggering market consolidation. - GIGGLE and "Binance Life" saw short-term rebounds, but most tokens face ongoing sell-offs. - Analysts link exits to macroeconomic pressures and institutional entry reshaping crypto ownership. - Bitcoin/ETH ETF outflows ($327M) and rising sell-pressure age (100 days) highlight broader risk-off sentiment.
Ethereum News Update: Transforming Blockchain Privacy: Zama and Kakarot Unite to Achieve Over 10,000 Private TPS
- Zama acquires KKRT Labs to merge FHE and ZK technologies, targeting 10,000+ confidential TPS on Ethereum and Solana . - KKRT, backed by Buterin and StarkWare, brings ZK rollup expertise to enhance blockchain scalability and privacy infrastructure. - The $1.2B-valued Zama aims to expand research teams and integrate modular systems for high-throughput confidential finance. - Industry leaders praise the merger as pivotal for advancing privacy-preserving DeFi and overcoming blockchain adoption barriers.
Ethereum News Update: Bearish Whale’s $24 Million ETH Short Confronts Bullish Divergence
- Ethereum whale increases ETH short position 25x to $24M, signaling heightened bearish sentiment amid market recalibration. - Holder Accumulation Ratio (HAR) drops to 30.45%, reflecting reduced long-term holder buying pressure and aggressive short-term whale positioning. - Technical analysis reveals hidden bullish divergence with ETH near $3,860, but key resistance at $4,240 remains critical for trend validation. - Market uncertainty persists as whale positioning clashes with staking yield-driven accumula
Trending news
MoreCrypto prices
More
