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Binance to Gradually Phase Out Support for BUSD Stablecoin
31.8.2023
The world’s largest cryptocurrency exchange by global trade volume, Binance, has announced it is discontinuing support for the stablecoin asset BUSD. The trading platform is encouraging users to swap their BUSD as Binance gradually phases out BUSD markets. BUSD Support Ending on Binance...
Binance Finds Way to Serve Belgian Users After Cease Order
31.8.2023
Cryptocurrency exchange Binance said it continues to provide services to residents of Belgium through its Polish entity. The announcement comes two months after the crypto trading company was ordered by the Belgian financial regulator to cease all crypto services in the country. Binance Offers...
UK Plans To Ban Crypto Cold Calls, Seeks Public Opinion For Evaluation On Businesses
24.8.2023
The UK government is evaluating the impact of a potential financial services cold call ban on businesses and private enterprises.
As part of its plans to minimize the risk to consumers in the economy, the UK Treasury has issued a consultation paper to poll citizens on the perceived impact of...
Paypal Pauses UK Crypto Purchases Amid Regulatory Changes; Assures Resumption in Early 2024
16.8.2023
In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their crypto within the Paypal ecosystem and are free...
Payments Giant Paypal Launches Dollar-Backed Stablecoin PYUSD
7.8.2023
Paypal has introduced its own stablecoin, representing the first venture of its kind by a leading financial firm. Initially reported by Bloomberg, the launch could notably accelerate the slow integration of cryptocurrencies for payment purposes. A New Era for Paypal: Introduction of PYUSD...
Binance Users Reach 150 Million, CZ Reveals
5.8.2023
Registered users of Binance have hit 150 million, the crypto exchange’s founder and CEO, Changpeng Zhao (CZ), announced on social media. The milestone has been reached despite increased regulatory pressure on the world’s largest trading platform for digital assets in the past few months. Crypto...
Crypto․com Granted Registration Approval in the Netherlands
30.7.2023
Digital asset exchange Crypto․com has been approved for registration as a crypto service provider in the Netherlands. The regulatory nod comes after a review of its business operations and compliance with the Dutch anti-money laundering legislation, the company pointed out. Trading Platform...
Binance Reportedly Lays Off Over 1,000 Employees, CZ Says Exchange Is Hiring
15.7.2023
Leading crypto exchange Binance has cut hundreds of jobs after a string of executive exits, according to a media report. The news, which comes as the coin trading platform marks its sixth anniversary amid increased pressure from regulators, was termed as FUD by founder Changpeng Zhao who said...
EU Regulators Issue Stablecoin Guidance, Calls For Compliance Ahead Of MiCA
12.7.2023
Financial regulators within the European Union (EU) have urged stablecoin issuers alongside other industry participants to adopt the guidelines set out in Markets In Crypto Assets Regulation (MiCA).
MiCA is the first comprehensive digital asset regulatory framework that covers exchanges, assets...
CZ Says News of Exec Departures at Binance Is FUD
9.7.2023
Founder of Binance, Changpeng Zhao (CZ), sought to downplay the significance of the exits of some executives at the crypto exchange, describing news about them as “more FUD” (fear, uncertainty, and doubt). The managers are leaving during an ongoing regulatory crackdown on the major coin trading...
SEC Approval of Spot Bitcoin ETF Is Unlikely to Be a Game Changer for Crypto Markets: JPMorgan
7.7.2023
Such ETFs have existed for some time in Canada and Europe, but have failed to attract large investor interest, the report said
Former SEC Chair Jay Clayton on US Regulator’s New Enforcement Ethos: ‘I Think That’s Problematic’
1.7.2023
Jay Clayton, former chair of the U.S. Securities and Exchange Commission (SEC), has revealed his stance on the recently implemented enforcement strategy of U.S. regulators. In an interview on CNBC, Clayton stated that the SEC’s strategy of bringing myriad cases to court against U.S....
Binance Reportedly Denied Crypto License in Germany
1.7.2023
Germany’s financial regulator has refused to grant Binance a crypto custody license, according to a media report. A rejection would prevent the exchange from advertising and growing in the major European market and deal another blow to its efforts to do regulated business on the Old Continent....
Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes
29.6.2023
The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators...
Winklevoss Twins Rail Against US SEC’s Anti-Crypto Stance: ‘It Does Not Feel Like America, It Feels Like Venezuela’
24.6.2023
The Winklevoss twins, founders of Gemini, a U.S.-based cryptocurrency exchange, have criticized the U.S. Securities and Exchange Commission (SEC) for its perceived anti-crypto stance and recent enforcement actions. In a recent interview, the Winklevoss twins commented that the regulatory...
Blockchain Assoc. requests info on Prometheum over ‘suspicious’ approval
16.6.2023
A FOIA request with the SEC regarding Prometheum has been filed, while others found former FINRA and SEC staffers among the firm's ranks
Crypto Firm Abra Said to be Insolvent in Texas State Regulators’ Cease-and-Desist Order
16.6.2023
According to an emergency cease-and-desist order from the Texas State Securities Board, the cryptocurrency firm Abra is “insolvent or nearly insolvent.” The filing alleges that a group of state securities regulators has been investigating Abra, and the working group interviewed William...
Microstrategy’s Saylor Envisions Bitcoin-Only Future for Crypto Industry as US Regulators Hammer the Sector
15.6.2023
According to Microstrategy founder Michael Saylor, regulators perceive no “legitimate path forward” for cryptocurrencies such as stablecoins, crypto securities, and tokens. In an interview with Bloomberg on Tuesday, Saylor emphasized that the entire industry is bound...
Notions of DAO Immunity Sink as CFTC Lawsuit Declares Ooki DAO a ‘Person’ Under the Law
11.6.2023
On June 9, 2023, the Commodity Futures Trading Commission (CFTC) declared victory in a lawsuit against Ooki DAO, a decentralized autonomous organization. According to the CFTC, the judge’s ruling that the Ooki DAO is a “person” under the Commodity Exchange Act sets a new legal...
Gemini and Genesis Fight Back Against SEC Lawsuit, Seek Dismissal of Allegations
29.5.2023
Gemini Trust Company and Genesis Global Capital filed a court document on May 26, 2023, seeking the dismissal of a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). The regulatory body had accused the two crypto firms of offering unregistered securities. Gemini and Genesis...