South Korea’s Financial Supervisory Service (FSS) is working on regulations to complement the Virtual Asset Users Protection Act, which was recently passed. The FSS aims to have these regulations ready by January, well in advance of the law taking effect. During an audit conducted by the South Korean National Assembly Political Affairs Committee, FSS head […]
Major cryptocurrency exchange Binance has temporarily halted the onboarding of new users from the United Kingdom. This decision comes after the exchange’s previous local partner, Rebuildingsociety.com Limited (REBS), was restricted by the UK financial regulator, the Financial Conduct Authority (FCA), from approving cryptocurrency marketing materials. Binance is now searching for a new FCA-authorized partner to […]
The Australian government is proposing a new regulation that would require cryptocurrency exchanges to obtain a license from the country’s financial services regulator in order to operate. Under the proposal, digital asset intermediaries would need to obtain an Australian financial services license from the Australian Securities and Investments Commission (ASIC) to issue and deal in […]
Binance.US, the US-based unit of cryptocurrency exchange Binance, has suspended dollar withdrawals from its platform amid an ongoing legal battle with the US Securities and Exchange Commission (SEC). Customers can no longer directly withdraw US dollars and must convert their funds to stablecoins or other digital assets. This move effectively transitions Binance.US into a crypto-only […]
Ripple Labs, the blockchain-based payment protocol company, has sparked speculation about a potential Initial Public Offering (IPO) with a recent job posting for a “Shareholder Communications Senior Manager.” This development has led many to infer that Ripple is preparing for an IPO, although the company has not issued an official statement regarding this matter. The […]
After conducting thorough investigations, it has been revealed that a significant amount of funds is missing from FTX customer assets. In response to this, FTX Trading Ltd and its associated debtors have proposed a settlement that would result in the majority of lost crypto and financial assets being refunded to customers.The proposed settlement, which is […]
Cryptocurrency exchange Binance.US has made changes to its terms of service, indicating that direct withdrawals in USD are no longer supported on the platform. The updated terms state that users can convert their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts. This change has caused concern […]
In a significant policy change, Binance US, the American arm of global cryptocurrency exchange Binance, has decided to withdraw FDIC insurance coverage for user funds. This move comes amidst an ongoing legal battle with the US Securities and Exchange Commission (SEC), which has accused the exchange of violating federal securities laws. Previously, Binance US users […]
Bankrupt cryptocurrency exchange FTX has proposed a plan to return up to 90% of the funds held by creditors before its collapse in November. The plan, which will be filed with a U.S. bankruptcy court by December 16, states that customers with a preference settlement of less than $250,000 can accept the settlement without any […]
Australia’s Treasury has announced plans to introduce a comprehensive licensing regime for cryptocurrency exchanges in an effort to regulate the rapidly expanding industry. The proposed framework requires exchanges to obtain an Australian Financial Services license (AFSL) from the Australian Securities and Investments Commission (ASIC) if they hold more than AUD 1,500 of any single client’s […]
