The future of Web3 and the growth of the virtual assets sector is being discussed thematically, and members of the Hong Kong Legislative Council, such as Johnny NG Kit-Chong, are currently seeking industry views in order to make legislative suggestions. The Legislative Council has reportedly formed a subcommittee. This is
Regulators in Nigeria have updated their policies on the issuance, offering, exchange, and custody of digital assets. The SEC announced its intention to revise these important rules in a public notice. A more thorough and adaptable regulatory framework, more suited to the intricacies of digital asset markets, is the goal
A key event is about to unfold as bitFlyer, a prominent Japanese crypto exchange, is slated to buy FTX Japan. Until today, details about the intention to acquire the local unit of the renowned but now insolvent FTX exchange remained undisclosed. Nonetheless, the arrangements for this transaction are nearing completion.
Crypto exchange Binance has been fined $2.2 million by the Financial Intelligence Unit (FIU) of India. Binance is reportedly accused of failing to comply with local anti-money laundering (AML) standards, which is the reason for the penalty. For Binance, already beset by convoluted international financial rules, this new development poses
According to local news sources, Binance regional manager Nadeem Anjarwalla’s lawsuit was dismissed by the Nigerian High Court. Anjarwalla claimed that the seizure of his passport and detention by Nigerian government officials constituted a violation of his basic rights. Due to a “want of diligent prosecution,” Judge Inyang Ekwo dismissed
The North Dakota state financial watchdog has joined seven others in revoking Binance US’s money transmitter license. On June 17, Commissioner Lise Kruse of North Dakota’s Department of Financial Institutions (DFI) said that BAM Trading Services, doing business as Binance US, had violated the money transmitter rules of the state.
Adam Moskowitz and David Boies, who are representing FTX creditors in a class action lawsuit, have made great strides in their quest for justice on behalf of those impacted by the crypto exchange’s demise. They are requesting the seizure of assets associated with the troubled FTX founder, Sam Bankman-Fried (SBF).
Around 94 million Binance Coin (BNB) tokens, or 64% of the total supply, are reportedly owned by Changpeng Zhao (CZ), the former CEO of Binance, according to a Forbes article. A forensic investigation by Gray Wolf Analytics and the news platform showed that the Binance founding team received 80 million
The failure of Gemini Earn, the exchange’s lending program, led to charges of fraud, which Gemini agreed to settle for $50 million. This follows strict regulations imposed in New York on lending initiatives associated with cryptocurrency. The authorities claim that the settlement would recompense the victims of fraud and clear
The Central Bank of Ireland has approved Crypto.com as a Virtual Asset Service Provider (VASP). Crypto.com is the industry leader in regulatory compliance, security, and privacy, with over 100 million clients worldwide. This approval comes after an extensive review of Crypto.com’s compliance record, which includes its capacity to prevent money laundering
