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Coinbase hit with £3.5M FCA fine in first UK enforcement action against enabling crypto trading
Starting today, Coinbase is rolling out cbBTC – Coinbase Wrapped BTC – an ERC20 token that is backed 1:1 by Bitcoin (BTC) held by Coinbase. At launch, cbBTC will be supported on Base and Ethereum, with plans to support more chains. When Coinbase users send their BTC from Coinbase to an address on Base or Ethereum, that BTC will automatically be converted 1:1 to cbBTC. When users receive cbBTC in their Coinbase accounts, it will be converted 1:1 from cbBTC to BTC. Notably, cbBTC will not have a separate order book or trading pair on Coinbase. cbBTC will also be available to trade on DEXs using Coinbase Wallet, and ... (full story)
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- Posted: Sep 12, 2024 7:16pm
- Submitted by:Category: Crypto Industry NewsComments: 0 / Views: 94
