6Mês·

Nubank has announced that trading in Nucoin, its in-house cryptocurrency, will be discontinued.


This comes around a year after the launch of Nucoin at the end of 2022. The decision is mainly due to increasing regulatory requirements in Brazil and high operating costs.


Nucoin was designed as a rewards program where customers could earn points for using Nubank services, which they could convert into discounts and offers or trade.


Brazilian legislation regulating cryptocurrencies, passed at the end of 2022, has resulted in companies like Nubank having to comply with stricter licenses and regulations.

These regulations, combined with the challenges of sustaining Nucoin's growth, have forced Nubank to end Nucoin's operations.


Users will be able to convert their remaining Nucoins into cash in the coming months before the blockchain shuts down on December 9, 2024.


$NUBR33
$NUBR33T
$NUBR33S

#nucoin
#nubank
#news
#crypto
#banking

https://cryptotvplus.com/2024/09/nubank-halts-nucoin-trading-over-costs-and-regulations/

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6 Comentários

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Nubank shuts down the "decentralized blockchain" of the "decentralized cryptocurrency" due to regulatory hurdles😆
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@stefan_21 Decentralization is of little use if a company is no longer allowed to earn money with it.

Or, in this case, it's more about regulations to prevent money laundering and tax evasion.
Nubank could implement these things and continue to operate Nucoin, but they don't want to.

Why is that?
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@Staatsmann I wasn't directly talking about Nubank :D I'm generally talking about all the crypto nonsense that companies or foundations sell as supposedly decentralized based on "blockchain technology".
If they were decentralized, they couldn't be abschalten🤷‍♂️
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@stefan_21 Ah, ok. :)
Then I just misunderstood you. 😅
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@DonAlvaro
So should we also abolish laws on vacation, maternity protection, pregnancy protection, bans on dismissal for sick people and a statutory minimum leave?

All things that were fought for by “socialists” and trade unions.
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