South Korea’s Financial Intelligence Unit (KoFIU) has recently unveiled a comprehensive plan to strengthen its oversight of the cryptocurrency industry. This move aims to enhance financial regulation and ensure consumer protection in the rapidly evolving digital asset market. The new measures, formulated after extensive consultations with industry stakeholders and policy advisors, include stricter operational standards
Exchanges
Hong Kong’s Securities and Futures Commission (SFC) and local law enforcement have issued a joint warning to the public regarding a fraudulent entity pretending to be the legitimate crypto exchange MEXC Global. This scam involves luring unsuspecting victims into a crypto investment scheme through social media and instant messaging platforms. The scammers use web domains
The crypto market has witnessed a significant increase in the adoption of custodial accounts, with the total assets under these accounts soaring by 250% in the past four months. This surge can be attributed to various factors, including the growing anticipation of a bull run, the integration of cryptocurrencies into daily life, macroeconomic conditions, and
In a surprising move, Binance, the leading cryptocurrency exchange in terms of trading volume, announced that it would be delisting two prominent digital assets, Monero (XMR) and Multichain (MULTI), by February 20. This decision sent shockwaves throughout the crypto community, as the values of both coins plummeted significantly following the news. Once Binance made the
The Securities and Futures Commission (SFC) in Hong Kong has issued a notice to unregistered Virtual Asset Trading Platforms (VATPs) operating within its jurisdiction. According to the notice released on February 5th, these platforms are required to submit their licensing applications by February 29th, 2024. Failure to comply with this deadline will result in the
When Bitcoin’s price briefly dipped below $40,000 and then rebounded to $42,000, it ignited significant interest and speculation within the market. However, the consequences of these price movements went beyond conventional expectations. Glassnode’s data revealed a more nuanced picture, raising questions about the evolving dynamics of cryptocurrency trading. Examining the volumes of exchange deposits and
Coinbase’s Chief Legal Officer (CLO), Paul Grewal, expressed dissatisfaction with the U.S. Securities and Exchange Commission’s (SEC) legal filing on January 30. Grewal took to X to share his thoughts, stating, “Below is the administrative record of [the SEC’s] decision rejecting our petition for digital assets rules. See for yourself whether it’s even close to
In a recent email statement to CryptoSlate, a Binance representative confirmed the platform’s latest development – allowing institutional investors to secure their trading collateral through a third-party banking partner. This new solution, known as a “banking triparty” arrangement, is a result of two years of extensive development. Its primary objective is to address the significant
Despite Bitcoin experiencing a 20% decline from its year-to-date high, it is important to gain a broader perspective on its performance and compare it to the tokens listed in the Coinbase and Binance lawsuits. Both exchanges are currently entangled in legal battles in the United States, with the focus being on whether the crypto assets
Coinbase, one of the leading cryptocurrency exchanges, has recently announced its plans to diversify its execution clients due to concerns over the dominance of go-Ethereum (Geth). This move comes as Coinbase acknowledges the growth in the industry and aims to mitigate the potential risks associated with relying heavily on a single execution client. Coinbase Cloud,
