The Central Bank of Nigeria’s deputy director, Olubukola Akinwumi, recently made some serious accusations against popular cryptocurrency exchange Binance. Akinwumi accused Binance of facilitating transactions that are typically reserved for authorized banks and financial institutions. These accusations were part of his testimony in a lawsuit filed by the Economic and Financial Crimes Commission (EFCC) against
Exchanges
Taiwan Mobile, a prominent player in the telecom industry in Taiwan, has taken a significant step by applying for a license to operate as a Virtual Asset Service Provider (VASP). This move has positioned the company as the 26th VASP in Taiwan, according to the latest report from the Financial Supervisory Commission. The company’s General
Binance.US, the American arm of the world’s largest crypto exchange by trading volume, Binance, recently addressed the ongoing legal dispute with the Securities and Exchange Commission (SEC). Despite the SEC’s decision to continue with the case, Binance.US expressed readiness to move forward in the judicial process. The SEC’s allegations surrounding securities law violations have not
Sony Group, a well-known conglomerate in Japan, has recently announced its plans to launch a crypto exchange after acquiring Amber Japan. The acquisition of Amber Japan’s WhaleFin exchange will result in the rebranding of the exchange to S.BLOX Co. This move comes as part of Sony’s strategy to diversify its portfolio and enter the cryptocurrency
A recent decision by a US bankruptcy court has given FTX the green light to move forward with a liquidation plan that involves paying customer claims in cash. This plan, which is set to pay customers based on crypto prices at the time of FTX’s collapse in November 2022, has faced objections from customers who
Binance, the leading cryptocurrency exchange globally, has recently been hit with regulatory challenges in various countries, including India. The Financial Intelligence Unit (FIU) of India imposed a hefty fine of 188.2 million Indian Rupees on Binance for non-compliance with the Anti-Money Laundering (AML) regulations. This fine amounts to approximately $2.2 million and was issued after
A recent development in the case of Nadeem Anjarwalla, a Binance executive, has resulted in the dismissal of his human rights lawsuit against Nigeria’s National Security Adviser and the Economic and Financial Crimes Commission by a federal high court. Despite the dismissal, it was noted that Anjarwalla did not have legal representation during the proceedings,
In the recent events surrounding the discovery of a critical vulnerability in crypto exchange Kraken’s deposit system, blockchain security firm CertiK has come forward with shocking allegations. CertiK claims that Kraken threatened its employees on June 18, demanding a repayment of a “mismatched” amount in an unreasonable timeframe while failing to provide a relevant wallet
Brazil’s Special Department of Federal Revenue is taking significant steps to regulate foreign crypto exchanges operating within the country. The tax department has announced plans to collect information from these exchanges to ensure their compliance with local regulations. This move comes as a response to the growing concerns regarding the operations of foreign exchanges and
Recently, Binance announced its decision to limit the availability of “unregulated stablecoins” in the EU by June 30, in accordance with the upcoming Markets in Crypto-Assets Regulation (MiCA). This move is expected to have a significant impact on the stablecoin market in the European Economic Area (EEA). Binance revealed that it plans to implement a
