Today’s top headlines in the crypto roundup: Facebook is holding talks with the CFTC over its ‘GlobalCoin’, Binance launches margin trading and their new DEX will block users from 29 countries including the US.

After significant volatility that saw bitcoin trade from $9,065 to $8,213 in only 6 hours on Friday 31 May, the markets made a steady recovery to $8,800 over the weekend. However the rally appears to be shortlived and today - 3rd June - the markets are selling off.

At time of writing bitcoin (BTC) and ether (ETH) are trading at $8,481.15 (-2.5%) and $261.82 (-3.67%). Over the last 24 hours, EOS was the second most traded cryptoasset and is down over 8% in the last 24 hours with a volume of $1.4 billion. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 4,135.5 (-2.77%).

Binance Launches Margin Trading

Binance is currently offering (in beta mode) margin trading on its custodial exchange (Binance.com) as part of their re-designed UX/UI (Binance 2.0) for this platform. However, this feature will not be available to all of Binance's customers (most notably, those based in the United States).

As Binance explained via a tweet on May 30, when you go to Binance.com via a desktop browser, on the top left of your screen, you should see a "Try Now" button that you can click on to try out the beta version of Binance 2.0, which offers support for margin trading.

Before you use margin trading, you need to apply to be approved, which requires going through it's KYC process. Margin trading is not available in six jurisdictions (including the United States). The beta version of Binance 2.0 seems to support margin trading with 2X leverage for five of the most cryptocurrencies: Binance Coin (BNB), Bitcoin (BTC), Ethereum (ETH), Tron (TRX), and XRP.

Facebook Holds Talks With CFTC Over GlobalCoin

Facebook has started a discussion with the U.S. Commodity and Futures Trading Commission (CFTC) over the social media giant’s cryptocurrency initiative. According to a report from the Financial Times published on Sunday, CFTC chairman Christopher Giancarlo said the agency held “very early stages of conversations” with Facebook. The goal was to better understand if the firm’s crypto stablecoin could potentially fall under the CFTC’s regulatory remit. Giancarlo stated:

“We’re very interested in understanding it better. We can only act on an application, we don’t have anything in front of us.

Binance DEX to Block Users From 29 Countries

Binance’s decentralized cryptocurrency exchange is reportedly set to start blocking users from the United States and 28 other countries in July of this year, presumably over regulatory concerns over the tokens that can be listed on the platform. Binance has been warning users who access its decentralized exchange from an IP address related to affected countries – which include the USA, Cuba, and Venezuela – that from July 1 onward they’ll no longer be able to access the website.

Binance’s DEX has a “transparent and community-driven” listing process. While it doesn’t add every token launched on the Binance Chain the company is likely unable to control security tokens on the exchange. Binance’s goal with its listing process is to facilitate a larger number of crowd-vetted projects.

Max Wallet Will Be Adding Exchange Functionality After 100,000 Users

MaxWallet is a mobile e-wallet which enables users to send, store, and receive Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and other cryptocurrencies.

The MaxWallet team has announced that they plan on extending their list of features by adding an exchange function. The exchange function will be introduced after the app will reach 100,000 users on both iOS and Android platforms.

Security is the most essential aspect of a crypto wallet. This is why MaxWallet has implemented several security features to ensure that your crypto stays safe. The wallet provides a cold storage function, which keeps funds locked offline, away from any online threats. It is also secured by a 4-digit pin, as well as fingerprint recognition protection or Face ID.

All the files and wallet data on your phone are encrypted with advanced cryptography. In the eventuality that you have lost your device, MaxWallet offers a simple backup process through which you can recover your crypto funds.

The wallet’s code is completely open source, meaning that developers are able to find and fix bugs.

A dynamic fee system is implemented, meaning that the fees are adapted according to the changes in network volume. QR code scanning is also supported, enabling users to access their full transaction history. coins and tokens.

To cater to an international audience, the wallet is available being translated in 14 languages.

Moreover, no signup is required in order to use it. With MaxWallet, you can anonymously make online crypto transactions from your phone, without providing any personal data.

The app is compatible with both iOS and Android mobile devices and can be downloaded from the MaxWallet website.

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