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
Exchanges
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
Coinbase recently filed a closing brief with the US Court of Appeals for the Third Circuit, taking on the Securities and Exchange Commission’s (SEC) denial of its rulemaking petition. The crux of the matter lies in the SEC’s order, which seemingly dismissed Coinbase’s claim that current SEC rules are unworkable for digital asset firms. In
The Rehabilitation Trustee of the now-defunct crypto exchange Mt. Gox recently provided an update regarding its significant Bitcoin holdings. Despite transferring over 140,000 BTC (approximately $10 billion) in a recent transaction, the trustee confirmed that it has not sold any of its Bitcoin holdings. The trustee clarified in a statement on May 28 that preparations
Coinbase is taking a bold stand against the SEC, accusing the regulatory body of attempting to skirt around established legal tests in their ongoing legal battle. The exchange argues that the SEC is avoiding the fundamental question of whether a digital asset transaction without post-sale obligations can be considered an investment contract under the Howey
Recently, there have been rumors circulating on social media about Bybit crypto exchange’s alleged insolvency. These rumors started spreading through obscure social media accounts, suggesting that a bug in a proof-of-reserves graph from Arkham Intelligence could have sparked the speculation. However, Bybit’s CEO, Ben Zhou, has firmly denied these claims, stating that they are baseless
