Binance recently made a statement regarding its operations in Nigeria, stating that the country is not one of its top markets. This comes in the midst of a conflict with local authorities over allegations of manipulating the local fiat currency. The dispute escalated to the point where two senior executives from the exchange were detained.
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Crypto.com, a prominent crypto trading platform, has recently faced a hefty fine of €2.85 million from the Netherlands Central Bank for operating within the European country without proper registration for two years. The Dutch regulations stipulate that crypto firms must register with De Nederlandsche Bank (DNB) under the Anti-money Laundering and Anti-Terrorist Financing Act to
The Nigerian government recently made headlines by obtaining a court warrant to detain Binance officials for a minimum of twelve days. This move came after the officials insisted on being taken to their respective countries’ embassies, further escalating the situation. The government’s accusations against Binance include aggravating the country’s foreign exchange challenges by manipulating rates
The relationship between Coinbase and the Securities and Exchange Commission (SEC) has hit a roadblock, with Coinbase strongly criticizing the SEC’s rejection of its rulemaking petition as “arbitrary and capricious.” This critique was put forth in a petition filed by Coinbase before the US Court of Appeals for the Third Circuit on Mar. 11. The
Coinbase, a prominent US-based cryptocurrency exchange, has experienced a substantial increase in its market share recently. This growth can be attributed to the launch of multiple spot Bitcoin exchange-traded funds (ETFs) in January. As a result of this surge, analysts at Goldman Sachs have decided to upgrade their rating on Coinbase shares from selling to
The cryptocurrency market experienced a surge in trading volume as Bitcoin reached an all-time high in November 2021, breaking through $69,000. However, this achievement was short-lived as Bitcoin quickly corrected by 14%, dropping its price to $59,300. Despite regaining some lost ground the next day, Bitcoin struggled to stabilize at $66,000, showcasing the market’s intense
Binance, a major cryptocurrency exchange platform, has recently announced the discontinuation of all services related to the Nigerian local fiat currency, Naira (NGN). This decision will have a significant impact on Nigerian users, as they will no longer be able to access services such as deposits, withdrawals, conversions, spot trading, P2P, Auto-invest, and Binance Pay.
Recently, cryptocurrency exchange Coinbase encountered a recurring issue where some users were faced with an empty account balance. This problem arose on both March 4 and February 28, causing inconvenience to users and disrupting trading activities. The first incident on February 28 led to users experiencing zero balances in their accounts and an inability to
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
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
