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CryptoCurrency

Coinbase’s European Retreat? FTX Acquisition Plans Halted amid Regulatory Scrutiny

  • Regulatory hurdles in the US drive Coinbase's offshore expansion efforts.
  • The exchange aimed to acquire FTX Europe to benefit from its lucrative derivatives unit.
by Jared Kirui
CryptoCurrency

Taiwan's Crypto Clampdown: Bans Unregistered Foreign Crypto Exchanges

  • FSC's guidelines emphasize asset separation and self-regulation within the crypto space.
  • Major crypto exchanges like Binance and Kraken are affected by the new regulations.
by Jared Kirui
CryptoCurrency

Not Leaving UK: Bybit Responds to Rumors

  • Media outlets claimed that Bybit considered withdrawing from the UK due to strict crypto marketing rules.
  • The CEO emphasized Bybit's priority of regulatory compliance and ongoing discussions with UK regulators.
by Tareq Sikder
CryptoCurrency

Binance.US Sees More Key Departures: Chief Risk Officer and Legal Head Exit

  • The crypto exchange is facing increased regulatory scrutiny.
  • This latest shake-up in leadership closely followed the exit of the CEO, Brian Shroder.
by Jared Kirui
CryptoCurrency

Binance Elevates Rachel Conlan to Chief Marketing Officer to Bolster Global Presence

  • Prior to her role, Conlan served as VP of Global Marketing.
  • She oversees marketing campaigns, including collaborations with prominent figures.
by Jared Kirui
CryptoCurrency

Luno Responds to FCA’s Looming Crypto Rules: Halts UK Investments Temporarily

  • The platform will suspend some crypto investments for clients in the UK.
  • PayPal recently took similar steps to suspend crypto purchases in the UK until 2024.
by Jared Kirui
Regulation

The Evolution of India's Crypto Policy: From Taxation to Global Collaboration

  • IMF-FSB recommends favoring crypto regulation over bans.
  • Prime Minister Modi urges for the global cryptocurrency regulation.
by Tareq Sikder
CryptoCurrency

South Korean Lawmaker in Crypto Scandal Survives Expulsion Vote

  • A parliamentary vote to dismiss the legislator ended in a stalemate, Yonhap reported.
  • Kim Nam-kuk reportedly transferred his WEMIX holding worth $4.5M to evade a new rule.
by Solomon Oladipupo
CryptoCurrency

DCG’s Payment Plan on Shaky Ground as Genesis Lender Group Objects

  • The Ad Hoc Group called the agreement "wholly insufficient."
  • DCG proposed paying $830M seven years after Genesis' Chapter 11 plan becomes effective.
by Solomon Oladipupo
CryptoCurrency

US DOJ Opposes Sam Bankman-Fried’s Claims on Evidence

  • The lawyers representing FTX's Founder want evidence gathered after July 1 to be inadmissible.
  • However, the DOJ said the lawyers have had access to the discovery materials for months.
by Solomon Oladipupo
CryptoCurrency

Is the First Spot BTC ETF Coming? Grayscale Triumphs over SEC in Court

  • The crypto asset manager launched a legal challenge against the SEC last year.
  • Michael Sonnenshein, the CEO of Grayscale, said the firm is "actively reviewing" the ruling.
by Solomon Oladipupo
CryptoCurrency

Binance Drops Banco de Venezuela: Regulatory Compliance behind the P2P Trading Change

  • The exchange excluded the bank in compliance with international sanctions.
  • This move arrived as Binance navigates heightened regulatory scrutiny globally.
by Jared Kirui
CryptoCurrency

Bankman-Fried Appeals Judge’s Jail Decision as October Trial Looms

  • The FTX Founder exercised his right by sharing Caroline Elison's details, lawyers argue.
  • In a separate filing, the lawyers sought the embattled entrepreneur's temporary release.
by Solomon Oladipupo
CryptoCurrency

SEC Goes after NFTs: Podcaster to Shell Out $6.1M over “Securities” Offerings

  • The regulator says "securities" in whatever form "must be registered."
  • The watchdog previously charged Binance and Coinbase over their "securities" offerings.
by Solomon Oladipupo
CryptoCurrency

Binance Dodges Regulatory Bullet in Belgium, Redirects Users to Poland

  • FSMA said customers can only be transferred if they consent.
  • Binance recently quit the Netherlands, transferring its Dutch clients to a local rival.
by Solomon Oladipupo
CryptoCurrency

Navigating Change: South Korea's Crypto Exchanges Brace for New Reserve Requirement

  • Crypto exchanges in the country must have a minimum reserve of 3 billion KRW from September.
  • The reserves are intended to safeguard users in case of hacks and exploits.
by Jared Kirui
CryptoCurrency

US Wants “Brokers” to Oversee Taxpayers’ Crypto Reporting Process

  • The Treasury Department says the rule will help to fight tax evasion.
  • However, the rules have drawn criticism from both politicians and industry actors.
by Solomon Oladipupo
CryptoCurrency

Binance Allegedly Used Sanctioned Banks for P2P Crypto Transfers in Russia

  • The exchange has denied the report.
  • It quietly lifted restrictions on Russians, according to an earlier report.
by Solomon Oladipupo
CryptoCurrency

FTX Updates Settlement Terms for 'Small Estate Claims' after US Trustee's Disapproval

  • The exchange criticized the US Trustee for objecting to the settlement.
  • Meanwhile, FTX and Genesis recently agreed to a payment of $175 million to resolve their dispute.
by Solomon Oladipupo
CryptoCurrency

Gemini Fires Back: Challenges SEC’s 'Inconsistent' Claims in Lawsuit

  • The crypto exchange argues that the SEC failed to clearly identify its claims.
  • Gemini has also highlighted the SEC’s shifting argument in the reply memorandum.
by Jared Kirui
CryptoCurrency

SEC Gets Judge’s Nod to Argue for Appeal against Landmark Ripple Ruling

  • Ripple secured a 'partial victory' against the SEC in mid-July.
  • However, the SEC believes the case deserves an “interlocutory review.”
by Solomon Oladipupo
CryptoCurrency

Bankrupt BlockFi Gets Court’s Backing, Enables Withdrawal for US Customers

  • The firm looks forward to permitting withdrawal for international clients.
  • BlockFi had exposure of $1.2 billion to FTX and Alameda Research.
by Solomon Oladipupo
CryptoCurrency

FTX Softens $4B Demand, Strikes $175M Settlement with Genesis

  • Both parties reached the agreement 'in principle' on or around July 20.
  • Genesis raised over $350M in customer, avoidance and loan claims against FTX.
by Solomon Oladipupo
CryptoCurrency

Binance.US Fights Back: Motion for Protective Order Referred to Magistrate Judge

  • The crypto exchange is seeking a protective order against the SEC's 'fishing expedition'.
  • The regulator is demanding custody information from Binance.US.
by Jared Kirui
CryptoCurrency

Binance Irked by SEC’s Move to Query CEO of US Affiliate

  • BAM's CEO and CFO do not have 'unique firsthand knowledge' about customer assets.
  • In other news, the SEC delayed a decision on ARK Invest's spot BTC application.
by Solomon Oladipupo
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