Recently, crypto exchange OKX has announced that it will be closing its operations in Nigeria due to local regulations. Nigerian clients were given until August 16 to close their positions on the platform. This decision has left many users worried about the future of their investments in the crypto space. The news of OKX’s exit
Exchanges
Russia’s Ministry of Finance has put forth a proposal allowing traditional exchanges to facilitate digital asset trading for a select group of investors, as per a report by Interfax on July 10. The government’s draft response to proposed regulations suggests the potential creation of specific rules for conducting organized trading in digital currency, which would
Judge Katherine Polk Failla recently criticized Coinbase’s attempt to subpoena SEC chair Gary Gensler in the ongoing case against the firm. The criticism came during a July 11 hearing, where Failla raised concerns regarding Coinbase’s request for Gensler’s statements before he became SEC chair in 2021. During the hearing, Failla pointed out that Coinbase’s request
The recent announcement of the co-founding of the Blockchain Security Standards Council (BSSC) by Kraken, along with other major industry players, demonstrates a concerted effort to enhance security within the crypto sector. By collaborating with Anchorage Digital, Coinbase, Fireblocks, and other key companies, the nonprofit organization aims to create uniform security standards to address pressing
The Markets in Crypto-Assets (MiCA) regulation introduced by the EU has had a significant impact on the digital asset market, not only affecting companies within the EU but also global firms involved in Euro transactions. One of the most noticeable effects of this regulation is the decrease in new exchange listings. According to data from
The sentencing for two senior FTX executives, Gary Wang and Nishad Singh, has been scheduled for later this year. Wang, who served as the former CTO and co-founder of the defunct exchange, will be sentenced on November 30. Meanwhile, former engineering director Singh’s hearing is set for October 30. Judge Lewis Kaplan, who oversaw the
The recent guilty plea from Paxful Inc. co-founder and former CTO Artur Schaback has shed light on the company’s failure to maintain an effective anti-money laundering (AML) program. According to the Department of Justice, Schaback’s negligence allowed criminal activities such as money laundering, sanctions violations, fraud, romance scams, extortion schemes, and prostitution to thrive on
Recently, Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria, made serious allegations against Binance. According to local media reports, Akinwumi accused Binance of engaging in transactions that are typically reserved for authorized banks and financial institutions. This accusation was made during his testimony in a lawsuit brought by the Economic and Financial
Taiwan Mobile, the second-largest telecom operator in Taiwan, has recently made a significant move by applying for a license to operate as a Virtual Asset Service Provider (VASP). The company’s General Manager, Lin Zhichen, has been named the person in charge, with Taiwan Mobile itself being listed as the legal representative. This step has allowed
Binance.US, the American arm of the leading global cryptocurrency exchange Binance, is gearing up for the next phase in its legal battle with the Securities and Exchange Commission (SEC). Despite its efforts to have the case dismissed, the court has ruled in favor of the SEC. The exchange expressed its readiness to proceed with the