The Southern District of New York has announced charges against the global cryptocurrency exchange Kucoin and its founders for major violations of U.S. anti-money laundering laws. Kucoin Faces Legal Firestorm for Alleged Anti-Money Laundering Failures Damian Williams, the United States Attorney for the Southern District of New York, detailed the charges against Kucoin, accusing the…
Read more
Earlier this year, Binance quietly split from its venture capital division, Binance Labs, and established as an independent entity now valued at $10 billion. This change in operation became effective on March 15 under Binance’s newly appointed Chief Executive Officer, Richard Teng, who assumed the role four months ago. Binance Labs Severs Ties, Maintains Branding…
Read more
De Nederlandsche Bank (DNB), the Dutch Central Bank, has imposed a major fine on crypto exchange Crypto.com. The fine, which amounted to 2.85 million euros ($3 million), was imposed in October last year but only announced on March 13. The fine was imposed on Foris DAX MT, operating as Crypto.com. The exchange was fined for providing crypto…
Read more
The recent surge in the price of Bitcoin (BTC) has injected fresh life into Indian cryptocurrency exchanges, as trading volumes on the top platforms reached a ten-month high in February. CoinDCX, WazirX, and BitBNS, the leading Indian exchanges, recorded trading volumes of $2.6 million, $3.4 million, and $7.8 million last month, respectively, BusinessLine reported, citing data…
Read more
The Hong Kong Securities and Futures Commission (SFC) issued a public warning today, urging investors to be cautious of suspicious websites impersonating legitimate virtual asset trading platforms. Two specific platforms were identified: HSKEX, impersonating Hash Blockchain Limited, operating these urls – www.hskexpro.com, www.hskex.com, www.hskexs.com and www.hskexit.com. www.oslexu.com and www.oslint.com were found impersonating OSL Digital Securities…
Read more
Banking services provider Revolut is set to debut a new “invite-only” crypto exchange, according to a February 16 report. A U.K.-based customer email confirmed by CoinDesk stated that Revolut is launching a new crypto exchange with advanced traders in mind. Revolut’s ‘Standalone’ Cryptocurrency Exchange “You’ll find deeper analytical tools and lower fees than the app,”…
Read more
A group of cryptocurrency exchanges known as the Digital Asset Exchange Alliance (DAXA) has reported rival OKX to the financial authorities in South Korea. According to a Feb 7 report, OKX faces regulatory scrutiny by South Korean authorities after a report that it targeted local traders without the required regulatory approvals. The report, citing people…
Read more
A Seoul court jailed South Korean crypto exchange Bitsonic executives for manipulating crypto prices – and profiting to the tune of $7.5 million. Newsis reported that the Seoul Eastern District Court sentenced the CEO of the Bitsonic trading platform to seven years in prison. South Korean Crypto Exchange Bitsonic Case: Judge Gives ‘Lenient’ 7-year Sentence…
Read more
The South Korean crypto exchange Bithumb ended its four-month campaign of commission-free crypto trading on February 5. Per Insight Korea, Bithumb began charging a 0.04% fee “for all crypto transactions starting from February 5.” Bithumb vs Upbit: South Korean Crypto Exchange Rivals Go to War? The exchange has been trying to claw back market share…
Read more
The United States Department of Justice has charged three individuals accused of masterminding the SIM-swapping attack that siphoned over $400 million from FTX. The indictment of the trio appears to undercut claims that incarcerated FTX founder Sam Bankman-Fried was the mastermind behind the hack. FTX’s Lax Security The U.S. Department of Justice (DOJ) has leveled…
Read more
