Community banks fear customers will withdraw deposits to buy stablecoin crypto assets that could pay higher yields.

Sept 15 (Reuters) - Hong Kong-based crypto exchange CoinEx said on Tuesday that it has decided to cease operations, as a prolonged downturn in digital assets shakes up the sector and squeezes out smaller players.

Crypto enthusiasts who once promised that permissionless payments would shatter the tyranny of traditional finance are now trying build third-party trust.

In late June, Reform UK leader Nigel Farage, MP Robert Jenrick, and the party’s treasurer Nick Candy, as well as Restore Britain leader Rupert Lowe, mingled with charity executives, architects and mathematicians at the National Portrait Gallery.

In Minnesota, Lt. Gov. Peggy Flanagan handily defeated Rep. Angie Craig after making Craig’s ties to crypto and support for industry-friendly policies part of a broader argument that the four-term congressmember was too friendly to corporate interests. Flanagan raised the crypto issue in debates, in TV advertising and on social media.

The latest challenge comes just hours before a crucial Senate vote.

Galaxy CEO warns US crypto legislation is at risk if the Clarity Act stalls in Senate. Clarity Act signed into law by 2026 at 18.5% YES.

Two Chinese companies, are alleged to have used trading accounts in Binance to launder the illicit proceeds and funnel the funds to Tehran or its proxies.