In recent developments, Malaysia’s exemplary commitment to investor protection has come to the forefront with the Securities Commission (SC) taking a hard stance against cryptocurrency exchange Bybit and its CEO, Ben Zhou. The SC’s directive for Bybit to halt all operations within Malaysia is a critical reminder of the importance of regulation in the rapidly
Exchanges
The Indian cryptocurrency exchange WazirX finds itself in increasingly turbulent waters following a recent ruling by the Delhi High Court, which has mandated a new investigation into the platform’s operations. This directive, issued on December 18, directly coincided with Binance’s announcement regarding the delisting of WazirX’s native token, WRX. The legal scrutiny arises from significant
The Australian Securities and Investment Commission (ASIC) has initiated legal proceedings against Oztures Trading Ltd., the company behind Binance Australia Derivatives, citing serious deficiencies in customer protection protocols. The focus of this legal action stems from allegations that a significant number of retail investors were wrongly labeled as wholesale clients, thus stripping them of essential
In its recently published transparency report, Coinbase provided a comprehensive overview of law enforcement requests received throughout the previous year. Notably, the report highlighted a total of 10,707 requests, showcasing an 18% reduction compared to the preceding year. This decline marks a significant trend that could signal shifts in how global law enforcement approaches cryptocurrency
The cryptocurrency market thrives on innovation and competition, but recent developments indicate a growing concern over monopoly practices within the space. BiT Global, linked to crypto entrepreneur Justin Sun, has initiated legal action against crypto behemoth Coinbase, the leading U.S. exchange. The lawsuit, filed on December 13, alleges that Coinbase’s decision to delist Wrapped Bitcoin
In a significant development for the cryptocurrency sector, Singapore-based Crypto.com has announced a strategic partnership with Deutsche Bank to bolster its corporate banking capabilities. This collaboration, revealed on December 10, represents a vital step in Crypto.com’s mission to enhance its operational efficacy and broaden its presence on the global stage. By focusing on key markets
The collapse of FTX in November 2022 sent shockwaves through the cryptocurrency community and broader financial markets. Once a leading platform for digital asset trading, FTX fell victim to serious mismanagement orchestrated by its founder, Sam Bankman-Fried, and his executive team. This mismanagement primarily involved the misuse of customer funds, leading to catastrophic losses for
In a remarkable turn of events, South Korean authorities have successfully retrieved 4.8 Bitcoin (BTC) originally linked to the notorious 2019 hack of Upbit, one of the largest cryptocurrency exchanges in South Korea. This incident was not merely a typical cyber theft; it involved a substantial amount of 342,000 Ethereum (ETH) being pilfered by suspected
In a startling revelation, the South Korean government has detected substantial Know-Your-Customer (KYC) violations on Upbit, the country’s foremost cryptocurrency exchange. Reports from November 14 indicate that during a standard review linked to the renewal of Upbit’s business license, the Financial Intelligence Unit (FIU) of the Financial Services Commission uncovered a staggering number of KYC
Following the recent United States elections, Binance, the largest cryptocurrency exchange by volume, has experienced an impressive surge in capital inflows, totaling over $7 billion since the elections occurred on November 5. This significant influx positions Binance far ahead of its closest competitor, OKX, which managed approximately $1 billion in inflows during the same timeframe.
