European stablecoin issuer Lugh stops issuing EURLs before MiCA takes effect
According to stablecoin issuer Lugh, which is pegged to the euro, announced that it will stop issuing its stablecoin EURL before the implementation of the EU's cryptocurrency asset market regulation (MiCA), and will redeem existing EURL before August 30, 2024. Lugh stated that users can redeem their tokens by visiting their website. According to DefiLlama data, the circulation of Lugh's EURL token has dropped sharply from about $2.8 million in March to about $32,000 as of Tuesday, indicating that most holders may have redeemed their tokens.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum ETFs gain traction with $13 billion in trading volume, but ETH price impact remains subdued
Since their launch on July 23, ether ETFs have been chugging along, accumulating $13 billion in cumulative spot volume across nine funds.The following is an excerpt from The Block’s Data and Insights newsletter.
Bitcoin gears up for 'transition phase' as parabolic rise looms, trader highlights
Australia to Require Crypto Exchanges to Obtain Financial Services Licenses
Trending news
MoreCrypto prices
More
