Decentralized finance (DeFI) protocol Yield Protocol (YIELD) announced that it will stop all its activities by the end of 2023.
In the official statement made by Yield Protocol, the increasing regulator prints And market of the terms bad to be All operations, including credit activities, with justification On December 29, 2023 It was stated that it would end.
In the last bull run around 22 million dollars Yield Protocol, which has total locked assets (TVL), has gained momentum after the blood loss in the last 1 year. $2 million It dropped to TVL.
In the statement made by the team, it was highlighted that user demand has decreased and the increasing regulatory policies in the USA, Europe and the UK were included:
We felt this decision was necessary because it currently reduces demand for fixed-rate borrowing over a sustainable Yield Protocol. Additionally, the current regulatory environment in the United States, combined with increased regulatory requirements in Europe and the United Kingdom, makes it difficult for us to continue to support the Yield Protocol.
Regulatory policies in the EU, especially in the UK, have accelerated in the past period and started to become more challenging for cryptocurrency companies. UK Financial Conduct Authority (FCA) From 8 October announced that new harsh regulatory policies would be implemented.
According to CoinGecko data, in the last 24 hours 1.3% increase exhibiting YIELD, at the time of writing from $0.00129 finds buyers.
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DeFi Project Gave Up Because of the USA and Other Countries: It’s Closing! The article titled was prepared by Tugay Erdem and published on koinbulteni.com.
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