The Nigerian government has raised concerns about the operations of Binance in the country, accusing the exchange of profiting from illegal transactions and causing significant financial losses to the nation. Special adviser to the Nigerian president, Bayo Onanuga, has hinted at imposing fines of up to $10 billion on Binance as a form of retribution
Exchanges
The Chamber of Digital Commerce recently filed an amicus curiae defending crypto exchange Kraken in the lawsuit initiated by the US SEC. The Chamber’s purpose behind this amicus brief is to put an end to the SEC’s attempted regulation of the digital asset industry through enforcement without legislative authority. In a statement, the CDC emphasized
HTX, a cryptocurrency exchange formerly known as Huobi, has recently resubmitted its application for a Virtual Asset Trading Platform (VATP) license in Hong Kong. This move comes after the exchange withdrew its initial application without explanation, raising questions about its eligibility and compliance with regulatory requirements. According to the Securities and Futures Commission (SFC) website,
The Hong Kong-based crypto exchange BitForex has recently faced a sudden and unexpected shutdown, leaving users with their funds stuck on the platform. The suspension of both the website and trading application on Feb 23 has caused a stir in the crypto community, with concerns rising about the exchange’s credibility. Questionable Trading Volumes BitForex boasted
Kraken, a prominent cryptocurrency exchange, has been at odds with the US Securities and Exchange Commission (SEC) over allegations of operating unlawfully as an unregistered securities exchange. The SEC’s decision to sue Kraken following the firm’s advocacy for regulatory reform raises questions about the agency’s motives. By targeting Kraken for its political speech, the SEC
The trend of declining exchange balances for Bitcoin has been evident since mid-March 2020, marking a significant shift in investor behavior. Initially, over 17% of Bitcoin’s total supply was held on exchanges, reaching a record high. However, this trend has continued through Bitcoin’s 2021 bull run and into 2024. According to CryptoSlate’s analysis of Glassnode
In a recent announcement, cryptocurrency exchange Binance revealed its plans to discontinue trading and subscription services for leveraged token offerings such as Bitcoin, Ethereum, and its BNB Coin, effective Feb. 28. The exchange stated that it would delist these tokens and halt redemption by April 3, affecting tokens like BTCUP, BTCDOWN, ETHUP, ETHDOWN, BNBUP, and
The Korea Financial Intelligence Unit (KoFIU) has recently unveiled an extensive plan aimed at enhancing supervision and regulation within the crypto industry. This move comes as part of South Korea’s commitment to strengthening financial oversight and consumer protection in the ever-evolving digital asset landscape. With the development of their comprehensive strategy for 2024, which involved
Hong Kong’s Securities and Futures Commission (SFC) and local law enforcement have issued a public warning regarding an entity impersonating the legitimate crypto exchange, MEXC Global. The scammers are using deceptive tactics to lure unsuspecting victims into a crypto investment scam, posing as a virtual asset trading platform. This article analyzes the warning and highlights
The surge in the total assets under custodial accounts within the crypto market has been nothing short of remarkable. Over the past four months, these accounts have seen a staggering 250% increase, fueled in part by the growing anticipation of a bull run and the integration of cryptocurrencies into daily life. In addition, macroeconomic conditions
