Regulatory challenges and market fluctuations prompt Dupay's departure as the crypto sector shifts direction
- Dupay, a crypto payment card firm, shuts down due to regulatory pressures and market volatility, reflecting broader industry challenges. - Canada's $10M stablecoin regulation mandates reserves and transparency, raising compliance costs for smaller crypto firms. - JELLYJELLY token's 224% surge triggered $13M liquidations, exposing risks of high-leverage trading in volatile crypto markets. - U.S. government shutdown disrupts social safety nets, potentially reducing demand for crypto-linked payment solution
Dupay, a crypto payment card company focused on connecting traditional finance with blockchain technology, has revealed it will shut down, attributing the move to increasing regulatory demands and unstable market conditions. This announcement comes as the crypto sector faces heightened scrutiny and unpredictable interest in digital asset services, as detailed in
The company's decision echoes recent regulatory actions in Canada, where authorities have introduced a $10 million plan to oversee fiat-backed stablecoins as part of the 2025 federal budget, first reported by Lookonchain. The updated regulations require stablecoin providers to hold adequate reserves, establish comprehensive risk controls, and maintain clear redemption processes, according to
Ongoing market swings have added pressure to crypto businesses. Recently, the JELLYJELLY token—a
The U.S. government shutdown, which has interrupted programs like SNAP, further highlights the broader economic uncertainties influencing crypto usage, as covered by
Dupay’s shutdown is part of a larger pattern of crypto companies adjusting strategies or leaving the market as regulations struggle to keep pace with technological advances. Canada’s stablecoin rules, which are in line with U.S. efforts to regulate digital payments, reflect a worldwide trend toward curbing unregulated crypto activities, according to
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.
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