Category: Exchanges

Hong Kong Financial Regulator Forms New Partnership With Police To Monitor Crypto Exchanges

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The supervisory body regulating the securities and futures market in Hong Kong teams up with the city’s police force to form a working group that aims to combat illegal activities on virtual asset trading platforms (VATPs). In a statement, the Securities and Futures Commission (SFC) says it has established a dedicated working group with the Hong Kong Police Force (HKPF) following a high-level meeting between the two parties in late September. The SFC says the group is composed of representatives from its Enforcement Division and Intermediaries Division and HKPF’s Commercial…

MoonPay Introduces Cryptocurrency Swapping Feature

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MoonPay, a crypto payments infrastructure firm, has expanded the capabilities of its retail-facing crypto app by introducing a cryptocurrency swapping feature. “Introducing Swaps! 🔄 Unlock the value from the assets you already own by swapping over 1,500 trading pairs. It’s fast, cross-chain with competitive exchange rates,” MoonPay said in an X Post. Launched in May, the app initially allowed users to buy cryptocurrencies and manage multiple wallets. With the addition of swaps, MoonPay aims to offer users over 1,500 trading pairs, enabling them to unlock value from their existing assets…

FTX Co-Founder’s Trial Commences: Defense Shifts Blame to Ex-Girlfriend and Binance CEO for Exchange’s Collapse

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FTX co-founder Sam Bankman-Fried’s (SBF) defense team tried to place blame on his ex-girlfriend, Caroline Ellison, and Binance CEO Changpeng Zhao (CZ) for the collapse of the cryptocurrency exchange. Mark Cohen, SBF’s lawyer, argued during the opening statements that SBF did not defraud anyone and acted in good faith, shifting responsibility for the alleged misconduct onto CZ, media reports said. Cohen contested the portrayal of SBF as a “cartoon villain,” describing him as a math nerd who abstained from drinking and partying. The defense asserted that SBF believed loans from…

Hong Kong Stock Exchange Unveils Blockchain-Powered Synapse for Seamless Cross-Border Settlements

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Hong Kong Exchanges and Clearing Limited is set to implement an upgrade to its Stock Connect system with the launch of HKEX Synapse, a cutting-edge blockchain-based settlement platform, HKEX said in a statement. This upgrade, scheduled for October 9, leverages smart contracts to enhance post-trade workflows and mitigate settlement risks in the Hong Kong Stock Exchange’s Stock Connect system, which facilitates connections between Hong Kong and mainland China’s stock markets. The HKEX Synapse platform aims to drive operational efficiency, reduce settlement risks, and enhance transparency by integrating smart contracts into…

CoinDCX exchange expands self-custody wallet to support 155 countries

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Major Indian cryptocurrency exchange CoinDCX is expanding its self-custody wallet, Okto, by integrating major on-ramp platform Transak. Okto, a multichain cryptocurrency wallet launched by CoinDCX in August 2022, has integrated the Transak platform to scale the wallet’s global support, the firm announced to Cointelegraph on Oct. 5. The integration is immediately available on Okto, the company said. With the new integration, the Okto wallet has increased the number of previously supported 60 countries to 155 jurisdictions, CoinDCX and Okto co-founder Neeraj Khandelwal said. By integrating Transak, Okto now specifically allows…

Kraken set to acquire Dutch exchange BCM, eyes European expansion

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United States-based exchange Kraken has announced a pending deal to acquire Netherlands-based cryptocurrency exchange Coin Meester B.V. (BCM) as it sets its sights on European expansion. While financial details of the deal have not been disclosed, Kraken and BCM announced the coming acquisition following the European Union’s implementation of its Markets in Crypto-Assets (MiCA) regulatory framework. The announcement from Kraken highlights its plans to grow its business across Europe, having acquired virtual asset service provider (VASP) licenses to operate in Ireland, Italy and Spain. A statement from Kraken CEO David Ripley…

Crypto cards facilitated $3B payment volume since 2021 exchange deals — Visa exec

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The integration of conventional payment cards with cryptocurrency exchanges is playing a crucial role in driving the adoption of digital assets, according to a Visa executive. Speaking to Cointelegraph reporter Ezra Reguerra during a panel at the Blockchain Economy Dubai Summit, VISA’s VP head of Innovation & Design Akshay Chopra highlighted the role that Visa cards have played as a bridge between fiat currencies and cryptocurrencies in recent years. Cointelegraph’s Ezra Reguerra (left) on stage with VISA’s VP head of Innovation & Design Akshay Chopra and Accenture’s CBDC & digital assets…

Hong Kong Stock Exchange launches settlement platform powered by smart contracts

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Hong Kong Exchanges and Clearing Limited (HKEX), the operator of The Stock Exchange of Hong Kong, Hong Kong Futures Exchange, and London Metal Exchange, is launching a novel equities settlement acceleration platform. Dubbed “Synapse,” the platform will utilize smart contracts in the DAML programming language to streamline post-trade flows and enhance operational efficiencies, according to the October 4 announcement.  Synapse will be deployed on Stock Connect, an HKEX channel that enables international investors to access more than 1,000 Mainland Chinese stocks through routing in Hong Kong. “Average daily turnover of…

New book reveals Binance CEO CZ rejected SBF’s $40M request for futures exchange

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Binance CEO Changpeng “CZ” Zhao reportedly declined to pay $40 million to former FTX CEO Sam Bankman-Fried (SBF) for a futures crypto exchange in March 2019, according to an excerpt from Michael Lewis’ book Going Infinite: The Rise and Fall of a New Tycoon. According to the book, SBF proposed a futures exchange with “zero risk” in case of bad trades with high leverage. Traditionally, a futures exchange allows traders to leverage funds against a small collateral, and the exchange often asks traders to increase collateral if the trade starts…

AirBit Club Cryptocurrency Ponzi Scheme

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The United States District Court for the Southern District of New York is advancing in the sentencing process for key individuals involved in the notorious cryptocurrency Ponzi scheme known as AirBit Club. On October 3, the office of the U.S. attorney for New York officially announced the sentencing of three out of the five surviving defendants implicated in the AirBit case. The sentenced individuals include Scott Hughes, Cecilia Millan, and Karina Chairez, all of whom had previously pleaded guilty to money laundering and related charges earlier in 2023. Scott Hughes,…