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Experts: Nigeria’s Binance Crackdown Shakes Investor Confidence
16.4.2024
The Nigerian government’s crackdown on cryptocurrency exchanges, including its targeting of Binance, has prompted some cryptocurrency firms to reconsider plans to either enter or further invest in the West African nation. A founder of a cryptocurrency exchange stated that the crackdown on Binance...
South Korean ‘Crypto Tax Crackdown’ Moves to Another City
16.4.2024
The South Korean “crypto tax crackdown” continues its nationwide tour, moving on to the city of Yeongcheon in North Gyeongsang Province.
The post South Korean ‘Crypto Tax Crackdown’ Moves to Another City appeared first on Cryptonews
Nigeria Targets Binance for User Data in Crypto Crackdown
13.3.2024
Nigerian authorities have reportedly requested Binance to provide information on its top 100 users in the country, along with its entire transaction history for the past six months.
The post Nigeria Targets Binance for User Data in Crypto Crackdown appeared first on Cryptonews
Nigerian Authorities Slap Binance with $10 Billion Fine Amid Crypto Crackdown
1.3.2024
The Nigerian government has imposed a staggering $10 billion fine on Binance as part of a crackdown on the platform in an effort to stabilize the nation's local currency.
The post Nigerian Authorities Slap Binance with $10 Billion Fine Amid Crypto Crackdown appeared first on Cryptonews
Nigerian authorities detain two Binance execs in crypto crackdown
29.2.2024
Nigerian authorities have reasons to feel they are right in cracking down on the cryptocurrency business. The most recent incident involved detaining two Binance executives and taking their passports. It occurred when both executives flew to Nigeria following the country’s decision to...
JPMorgan Warns of Increased Risk for Crypto Market Due to Tether’s ‘Lack of Regulatory Compliance and Transparency’
6.2.2024
JPMorgan has warned of increased risk for the crypto market resulting from Tether’s “lack of regulatory compliance and transparency.” The global investment bank’s analysts explained that other stablecoin issuers that have been more compliant with existing regulations...
German Authorities Confiscate 50,000 BTC Worth $2 Billion From Illegal Movie Site
30.1.2024
Source: Pixabay Following an investigation led by the Dresden General Prosecutor’s Office and the Saxony State Criminal Police, approximately 50,000 Bitcoins were “provisionally” secured in mid-January 2024 in connection with the crackdown on an illegal movie site. According to German...
Apple and Google Remove Several Major Crypto Exchanges From App Stores in India Following Regulatory Crackdown
16.1.2024
Apple and Google have removed several major crypto exchanges from their app stores in India after the Indian Financial Intelligence Unit flagged nine crypto service providers as operating illegally in the country. Various telecom networks and internet service providers in India are also blocking...
BuyUcoin Announces Zero Fee Transfer From Offshore Exchanges Amid Ongoing Crackdown in India
15.1.2024
Indian crypto exchange BuyUcoin has announced that it will now reimburse the entire withdrawal fees for local users transferring their assets from offshore exchanges amid ongoing crackdown. The FIU-IND, a unit of the Finance Ministry, recently issued show cause notices to numerous offshore crypto...
Apple Store Removes Binance and Other Global Exchanges’ Apps in India Amid Wider Crackdown
10.1.2024
Source: Pexels The mobile applications of several global cryptocurrency exchanges, including Binance, Kraken, Mexc, and Kucoin, have disappeared from Apple’s App Store in India. This move comes within two weeks of these exchanges being flagged for operating “illegally” in...
CoinDCX Reports 2000% Increase in Deposits Since India’s Crackdown on Offshore Exchanges
5.1.2024
Source: Shutterstock India’s leading crypto exchange CoinDCX has reported a 2000% increase in deposits from customers since the finance ministry issued a show cause notice to 9 major offshore exchanges, including Binance on December 28. Offshore exchanges Binance, Kucoin, Huobi, Kraken, Gate.io...
Binance Threatens Delisting of 10 Privacy Coins, Including Monero and Zcash Amid Regulatory Crackdown
4.1.2024
Binance threatened to delist prominent privacy cryptocurrencies Monero and Zcash due to increased regulatory attention surrounding anonymous digital assets. Image by Vadim Artyukhin, Unsplash. On Thursday, Binance warned it may soon delist 10 prominent privacy coins, including Monero, Zcash,...
China Tightens Grip on Cryptocurrency Trading, Targets Use of Tether in Foreign Exchange
29.12.2023
Source: AdobeStock / Wit Chinese authorities have issued a stern directive for an enhanced crackdown on the use of cryptocurrencies, emphasizing their role in illegal foreign exchange trading as part of ongoing efforts to mitigate financial risks. In a joint statement released on Wednesday,...
Binance Crackdown Unleashes Unprecedented Scrutiny on Crypto Transactions
18.12.2023
Source: Adobe / natali_mis The recent crackdown on Binance by the US Department of Justice (DOJ) has triggered a seismic shift in how the crypto industry operates, with Binance now set to undergo what experts call an “unprecedented” level of scrutiny. The government scrutiny, which...
Ripple Reveals 2024 Crypto Predictions: SEC Crackdown to Continue, Regulation Will Hinder US Crypto Firms
18.12.2023
Ripple has shared several crypto predictions for 2024. The firm’s chief legal officer expects the U.S. Securities and Exchange Commission (SEC) to continue its crackdown on the crypto industry. In addition, he foresees U.S. Congress disagreeing on the best course of action for crypto...
Senate Coalition Grows to Crack Down on Crypto’s Use in Illicit Finance
13.12.2023
U.S. Senator Elizabeth Warren’s bill to crack down on crypto’s use in illicit finance has gained more support among lawmakers. “The Treasury Department is making clear that we need new laws to crack down on crypto’s use in enabling terrorist groups, rogue nations, drug lords...
DOJ Charges Two Men For $25 Million Crypto “Trading Bot” Ponzi Scheme
13.12.2023
Source: Department of Justice In another crackdown against crypto criminals, the U.S. Department of Justice (DOJ) has charged two middle-aged men with stealing over $25 million from victims in a so-called “cryptocurrency Ponzi scheme.” Citing court documents, the DOJ accused David Gilbert Saffron...
OctaFX legality in India: ED crackdown on forex trading
12.12.2023
OctaFX is a trading platform that enables customers to engage in forex transactions. The official website demonstrates success by highlighting that it grants access to a wide range of assets, currencies, and shares, among other products. It further boosts the offering of low spreads and...
Tax Crackdown: UK Authorities Target Crypto Users for Unpaid Taxes
29.11.2023
Image Source: Pixabay The UK national taxing authority has asked crypto users to disclose any unpaid taxes they might have in order to avoid fines. In a Wednesday announcement, HM Revenue and Customs (HMRC) asked crypto users to make a “voluntary disclosure of any unpaid tax” relating...
Crypto Isn’t Going Anywhere: Industry Leaders Optimistic Despite Binance Crackdown
22.11.2023
Source: Adobe / XaMaps Following Binance’s massive $4.3 billion fine and founder and CEO Changpeng “CZ” Zhao’s decision on Tuesday to step down from the company, industry leaders have been reassuring the community that crypto is here to stay, and that it’s likely to come out even...