Bitwage halts USDC payments for US residents, cites ‘strict regulations’

In an email sent to customers on July 5, crypto payroll company Bitwage announced it would disable payments in USD Coin (USDC) for U.S. residents. Over the past month, financial regulators in the U.S. have increased their regulatory scrutiny of the crypto space, bringing charges against major crypto firms, including Binance and Coinbase.