Exchanges

Cryptocurrency exchange OKX recently announced to its Nigerian clients that they will need to close their positions by August 16th, as the platform is ceasing its operations in the African country. This decision comes as a result of local regulations that have made it difficult for OKX to continue offering its services to users in

Russia’s Ministry of Finance recently proposed a new approach to digital asset trading by allowing traditional exchanges to handle such transactions for select investors. This proposal, outlined in a government draft response to two pieces of regulation, suggests creating special regulations specifically for conducting organized trading in digital currency, treating it as a commodity, and

During a recent court hearing, Judge Katherine Polk Failla criticized Coinbase’s efforts to subpoena SEC chair Gary Gensler, a crucial figure in the ongoing legal battle between the cryptocurrency exchange platform and the Securities and Exchange Commission. Failla raised concerns about Coinbase’s request, which included Gensler’s statements prior to his tenure as the SEC chair

In an effort to enhance security within the crypto sector, Kraken recently announced the co-founding of the Blockchain Security Standards Council (BSSC) alongside several other major industry players. This nonprofit organization, which includes well-known companies such as Anchorage Digital, Coinbase, and Fireblocks, aims to establish uniform security standards across the crypto industry to combat various

The recent case involving Paxful Inc. co-founder Artur Schaback has shed light on the consequences of failing to uphold an effective anti-money laundering (AML) program. Schaback’s negligence not only resulted in criminal activities thriving on the platform but also posed a significant threat to the integrity of the financial system. From money laundering to fraud

Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria (CBN), recently accused Binance of engaging in transactions that are typically reserved for authorized banks and financial institutions. This accusation came as part of Akinwumi’s testimony in a lawsuit brought by the Economic and Financial Crimes Commission (EFCC) against Binance and its executive, Tigran

Taiwan Mobile, the second-largest telecom operator in Taiwan, recently made a bold move by applying for a license to operate as a Virtual Asset Service Provider (VASP). This strategic decision has positioned the company as the 26th VASP on the Financial Supervisory Commission’s list of Virtual Currency Platform Operators compliant with Money Laundering Prevention Laws.

The European Banking Authority (EBA) has recently announced updates to its Travel Rule guidelines, expanding its scope to include crypto service providers and intermediaries. According to a statement released on July 4, starting on December 30, 2024, crypto exchanges operating within the European Union will be required to comply with the Travel Rule guidelines outlined

Crypto exchange KuCoin recently announced that it would be implementing a 7.5% value-added tax on trading fees for its Nigerian users starting on July 8th. This decision has been attributed to an important regulatory update, and the tax will be applied to transaction fees, not the transaction amount itself. The move by KuCoin is significant

In a recent statement released on July 1, Binance.US revealed that the ongoing legal battle with the Securities and Exchange Commission (SEC) is ready to move into the next phase. The US arm of the world’s leading crypto exchange, Binance, expressed its readiness to face the SEC’s allegations and proceed with the judicial process. This