Upbit Singapore has received initial approval from the central bank and financial regulator of the country for a cryptocurrency license that allows them to operate locally. The Singapore division of Upbit, which is South Korea’s largest exchange in terms of trading volume, has received initial approval for a Major Payment Institution (MPI) license in Singapore….
Crypto firms like Binance, OKX, and MoonPay are working to follow the United Kingdom’s new financial promotion regulations. The UK’s Financial Conduct Authority (FCA) introduced these regulations on October 8 to ensure that crypto promotions are fair, transparent, and clean. Binance has launched a new domain for UK users and partnered with a local lending…
On October 6, 2023, Binance News unveiled a UK-specific domain in compliance with the Financial Conduct Authority (FCA) regulations. Starting October 6, 2023, Binance introduced a dedicated UK domain, binance.com/en-GB, exclusively serving UK-based clients. This move aligns with the Financial Conduct Authority (FCA) regulations, specifically the updated Financial Promotions Regime. Binance’s collaboration with Rebuildingsociety.com Limited…
A class-action lawsuit has been initiated by a resident of California named Nir Lahav against Binance and its CEO, CZ. The lawsuit alleges that Binance and CZ violated legal statutes by allegedly engaging in actions that harmed their competitor, FTX, in what is believed to be an attempt to establish a monopoly within the cryptocurrency…
Binance France actively promotes the adoption of cryptocurrencies while simultaneously tackling banking obstacles following its withdrawal from the Russian market amid a backdrop of persisting regulatory difficulties. In recent updates, Binance France has advised its user base to promptly transition their fiat holdings into digital currencies. This guidance comes in the wake of the conclusion…
Mt. Gox, which lost 850,000 Bitcoins in 2014 due to a security breach, has extended its repayment deadline to October 31, 2024. This year, two individuals were charged by the U.S. DOJ for conspiring to steal a portion of the stolen BTC, which is now worth nearly $23 billion. In the ongoing Mt. Gox saga,…
The Australian Securities and Investments Commission (ASIC) has taken legal action against Bit Trade, the operator of Kraken cryptocurrency exchange in Australia. ASIC has accused Bit Trade of not meeting design and distribution requirements for one of its trading products, specifically a margin trading product. The civil charges were filed in the Federal Court, as…
In the ongoing legal battle between Binance.US and the SEC, a federal judge made an important decision. The judge denied the SEC’s request to access Binance.US’s technology systems during a hearing where Binance.US argued that the SEC’s request was too broad and intrusive. Federal Magistrate Judge Zia Faruqui stated that he was not inclined to…
Prime Trust encountered severe financial difficulties, resulting in an $8 million loss linked to its investment in the failing terraUSD stablecoin. Conversely, BitGo showcased resilience by obtaining $100 million in funding after reevaluating its acquisition plans involving Prime Trust. BitGo and Swan, both prominent names in the world of Bitcoin financial services, are joining forces…
Coinbase, a popular cryptocurrency exchange, has expanded its services by introducing a Web3 wallet tailored for major institutions involved in Web3, DeFi (Decentralized Finance), and NFTs (Non-Fungible Tokens). This new crypto wallet utilizes MPC (Multi-Party Computation) technology, enabling clients to securely store tokens from supported networks, access their funds, engage with decentralized applications (dApps) and…