Abstract:
On November 8, Bitcoin remained below $76,000. European regulatory pressure and cryptocurrency platform security issues continued to suppress market sentiment. As of 14:06 Beijing time, Bitcoin fell 0.34% to $75,776.7, continuing the weak trend from the previous week. At the same time, Binance, the world’s largest cryptocurrency exchange, confirmed that it plans to close some affected European user accounts before December 31 as the transition period of the EU’s Cryptoasset Market Regulation (MiCA) is coming to an end.
Currently, some Binance users in France, Spain, Italy and Poland have received withdrawal notifications. The deposit function of the relevant accounts has been suspended, but funds can still be withdrawn. Binance plans to charge a monthly fee of 0.025% on the remaining balance of the affected accounts starting from November 29, with a minimum fee of 10 USDC. This adjustment is mainly due to the fact that Binance has not yet obtained relevant licenses under the EU’s unified crypto-asset regulatory framework. The exchange previously withdrew its Greek license application in June and is still seeking regulatory approval in other European countries.
The EU has also recently established a special working group on cryptocurrency, which plans to coordinate law enforcement actions among member states in the next 12 months, focusing on cracking down on trading networks that use digital assets to circumvent sanctions against Russia, and further strengthening the supervision of cryptocurrency trading activities.
In terms of security, cryptocurrency debit card service provider Gnosis Pay disclosed that its consumer system suffered unauthorized access on November 3. Some customer addresses, payment card numbers and associated cryptocurrency wallet information were leaked, which may allow criminals to associate user identities with their digital asset holdings. The company said customer funds were not affected and the security breach was under control.
Other cryptocurrencies had divergent trends on Sunday, with Ethereum falling 0.57% to $2,233.99, XRP falling 0.48% to $1.1634, Solana falling 1.21% to $89.16, and BNB rising slightly by 0.33% to $696.99. As European regulatory restrictions and platform security risks increase, the cryptocurrency market is still under pressure, and Bitcoin has not yet regained the $80,000 mark.
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