The cryptocurrency exchange giant, Binance, is considering leaving the Russian market amidst ongoing controversies surrounding its operations in the region. Reports from the Wall Street Journal on August 28 revealed that a Binance representative stated, “all options are on the table, including a full exit.” This potential exit comes at a time when the company
Regulation
Binance, one of the leading cryptocurrency exchanges, has recently taken the decision to remove several sanctioned Russian banks from its peer-to-peer (P2P) trading service. This move comes as the exchange aims to ensure compliance with local and global regulatory standards. The decision made by Binance highlights its commitment to addressing gaps in its systems promptly
The U.K. Treasury Fraud Strategy, introduced in May, aims to crack down on fraudulent activities in the country. As part of this strategy, U.K. regulators are now seeking to ban cold calls for consumer financial services. The crypto sector is likely to be one of the industries affected by this proposed ban. A consultation paper,
The U.S. Securities and Exchange Commission (SEC) recently filed charges against John DeSalvo, the mastermind behind Blazar Token, a minor cryptocurrency. DeSalvo managed to raise a significant amount of money from investors before the collapse of the token. This article delves into the details of DeSalvo’s fraudulent scheme, how he targeted specific individuals, and the
PayPal recently sent an email to select users notifying them of the temporary suspension of its crypto buying services in the U.K. The service will be paused from October 1, 2023, and is expected to resume in early 2024. While users won’t be able to buy cryptocurrencies during this period, they can still hold and
Bloomberg’s Senior ETF Analyst, Eric Balchunas, has announced that the Security and Exchange Commission (SEC) could reveal a significant decision regarding Grayscale Investments as early as today, August 15, or by the latest, this Friday, August 18. This decision is expected to have significant implications for the approval of Bitcoin exchange-traded products (ETPs), with specific
The Securities and Exchange Commission (SEC) under the chairmanship of Gary Gensler is facing significant regulatory hurdles in approving a Bitcoin spot ETF application. Former SEC attorney John Reed Stark believes that these concerns revolve around the prevention of fraud and the protection of investors. However, what makes this situation even more complex is the
In a recent development, U.S. Senator Cynthia Lummis has come out in support of Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit. In her amicus brief, Lummis highlights the ongoing debates in Congress surrounding crypto regulation and argues that it should be left to Congress to develop fair and balanced regulations.
Democratic U.S. Congresswoman Maxine Waters recently voiced her criticism of PayPal’s stablecoin, highlighting the need for federal regulation and oversight in the cryptocurrency space. In a statement, she expressed concerns about the lack of a regulatory framework and emphasized the importance of protecting users and ensuring financial stability. Waters argued that the launch of PayPal’s
Bitstamp, one of the leading cryptocurrency exchanges, announced on August 8 that it would cease U.S. trading for several cryptocurrencies that have been declared as securities in recent cases against Binance and Coinbase. The affected tokens include Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near Protocol (NEAR), The Sandbox (SAND), and Solana (SOL).
