Crypto exchange OKX is reportedly delisting Tether (USDT) pairs in the EU and will only support USDC and Euro-based stablecoin pairs, according to a message sent to a customer on March 18. The move comes days after the EU released draft technical standards related to stablecoins, which are set to come into effect from June.… Continue reading OKX removes USDT pairs in Europe as new stablecoin regulations loom
Category: Exchanges
Nigeria intensifies probe into Binance with court-ordered data disclosure
A Federal High Court in Nigeria has ordered Binance to provide detailed information on all its Nigerian users to the country’s foremost anti-corruption agency — the Economic and Financial Crimes Commission (EFCC). The ruling comes amid rising tensions between the crypto exchange and Nigerian authorities over the past month as the country’s fiat currency collapsed… Continue reading Nigeria intensifies probe into Binance with court-ordered data disclosure
Binance Labs spun-off into independent entity outside the Binance group umbrella
Binance spun off its $10 billion venture capital arm, Binance Labs, into an independent entity that will no longer be under the group’s purview months ago. Bloomberg drew attention to the silent change in a March 15 report, which revealed that Binance Labs had added a disclaimer about the change on its website earlier in… Continue reading Binance Labs spun-off into independent entity outside the Binance group umbrella
US prosecutors want SBF to serve at least four decades in prison
Federal prosecutors have requested a prison sentence of 40 to 50 years for FTX founder Sam Bankman-Fried (SBF) following his conviction for conducting one of the most significant financial frauds in recent times through the misappropriation of over $8 billion of customer funds. The US Attorney’s Office for the Southern District of New York filed… Continue reading US prosecutors want SBF to serve at least four decades in prison
Hong Kong SFC expands violations list adding MEXC for unlicensed operations
Hong Kong financial regulator, the Securities and Futures Commission (SFC), issued a public warning about MEXC’s unlicensed operations within its jurisdictions. SFC stated : “The entity purports to be a virtual asset trading platform operating at the above website. It has been targeting Hong Kong investors but is not licensed by the Securities and Futures… Continue reading Hong Kong SFC expands violations list adding MEXC for unlicensed operations
Binance says Nigeria ‘not yet one of its top markets,’ despite high crypto adoption in African country
Binance said Nigeria is not one of its top markets amid recent issues with authorities in the African country. In a March 13 statement , the exchange revealed its extensive cooperation with local law enforcement agencies to promote the responsible growth of crypto in Nigeria. Over the past weeks, Binance and the Nigerian authorities have… Continue reading Binance says Nigeria ‘not yet one of its top markets,’ despite high crypto adoption in African country
Crypto.com hit with €2.85 million fine by Dutch Central Bank for regulatory noncompliance
Crypto.com has incurred a €2.85 million ($3.1 million) fine from the Netherlands Central Bank for operating within the European country without registration for two years. The penalty specifically targets Forix DAX Mt, the Dutch trading entity of Crypto.com. In a March 13 statement , it was revealed that the Apex Bank imposed this fine on… Continue reading Crypto.com hit with €2.85 million fine by Dutch Central Bank for regulatory noncompliance
Court upholds SEC’s unregistered securities claims against Gemini, Genesis’ Earn program
A federal court denied crypto exchange Gemini and Genesis Global Capital’s joint motion to dismiss the SEC’s case regarding their defunct Gemini Earn program, according to a March 13 filing. The court also denied the companies’ motion to strike the regulator’s requests for permanent injunctive relief and disgorgement. The court found that the SEC’s complaint… Continue reading Court upholds SEC’s unregistered securities claims against Gemini, Genesis’ Earn program
US court tightens grip on Changpeng Zhao with travel and passport restrictions
Changpeng Zhao , co-founder and former CEO of Binance , has been instructed by US authorities to surrender his Canadian passport before sentencing in April . The directive forms part of a series of restrictions imposed on his bond terms by Judge Richard A Jones on March 11. New restrictions Judge Jones ruled that Zhao… Continue reading US court tightens grip on Changpeng Zhao with travel and passport restrictions
OKX secures key payment license in ‘priority market’ Singapore
The Monetary Authority of Singapore (MAS) has granted in-principle approval to the Singapore subsidiary of OKX exchange, permitting it to function as a payments Institution, according to a Mar. 12 statement . With this Major Payments Institution (MPI) license, OKX gains the authority to offer crypto and cross-border money transfer services within Singapore, marking a… Continue reading OKX secures key payment license in ‘priority market’ Singapore