Category: Exchanges

Winklevoss twins’ crypto exchange Gemini to seek UAE crypto license

boss

The Winklevoss-owned crypto exchange Gemini has announced that it has begun the process of acquiring a crypto service license for customers in the United Arab Emirates (UAE). In a May 31 blog post, Gemini cited increased enthusiasm for cryptocurrencies among citizens and positive conversations with regulators of the UAE as the reason for pursuing the license.  Additionally, Gemini co-CEOs Cameron and Tyler Winklevoss told Zaywa that the move was spurred on after experiencing “hostility and a lack of clarity” on crypto regulation in the United States. 1/ We’re coming to…

Russia Abandons Plans for State-Run Crypto Exchange, Puts Focus on Regulating Centralized Platforms: Report

boss

Russia is reportedly giving up on plans to launch a state-owned crypto exchange and is instead expected to regulate private ones. According to a new Izvestia report, Russia’s Ministry of Finance rejected the idea of establishing a national crypto exchange, after the idea was discussed late last year. Says Ivan Chebeskov, director of the financial policy department of the Ministry of Finance of the Russian Federation, “The Ministry of Finance did not support the establishment of one national crypto-exchange, rather there was an idea to legally regulate the possibility of…

Bitcoin Cash Advocate Roger Ver Hails Ethereum as the Future of Cryptocurrency Adoption

boss

In a recent Show Me The Crypto appearance, renowned Bitcoin Cash advocate and early Bitcoin investor Roger Ver expressed his admiration for Ethereum, asserting that it will play a pivotal role in driving worldwide cryptocurrency adoption. Ver’s endorsement of Ethereum aligns with the sentiments shared by the hosts of the YouTube show, particularly regarding the Ethereum ecosystem’s innovations, such as non-fungible tokens (NFTs). Acknowledging that Ethereum does not currently possess the largest market capitalization compared to Bitcoin, Ver emphasized that Ethereum is the front-runner in spearheading the global adoption of…

Crypto exchange Bybit exits Canada, citing ‘recent regulatory development’

boss

Cryptocurrency exchange Bybit has announced it will be pausing its products and services to residents and nationals of Canada following certain developments in the regulatory space. In a May 30 blog post, Bybit said it will not accept account opening applications from Canadians starting on May 31. Current users of the crypto exchange will have until July 31 to make deposits and “increase any of their existing positions” before these services are phased out, with other positions liquidated after Sept. 30. Bybit did not offer any explanation for the market…

Crypto exchange TrigonX latest to emerge from the FTX rubble

boss

Australian crypto exchange TrigonX is the latest revival story to come out of the FTX collapse, with the exchange set to relaunch after it collapsed in December with debts exceeding $50 million. According to company director Matteo Salerno, TrigonX is earmarked for revival after a deed of company arrangement was approved by creditors, The Australian reported on May 29. Founded in 2014, the digital asset exchange was one of the many affected by the sudden collapse of the FTX in November. TrigonX appointed administrators on Dec. 16, after it was unable to meet…

Crypto Exchange BKEX Suspends Withdrawal to Aid Money Laundering Probe

boss

Cryptocurrency exchange BKEX has frozen customer withdrawal on its platform to cooperate with police investigation into alleged money laundering by some of its users. The exchange on Monday said it decided to halt withdrawal in order to aid authorities in collecting evidence. “The team will actively work with the relevant authorities to resolve the current issues faced to ensure that the rights of our users are protected to the greatest extent possible,” BKEX said in a statement on its blog. #BKEX Announcement on Suspension of Withdrawals – Details: https://t.co/gDh6Z3bg9apic.twitter.com/EMTEuU2DDO —…

Russia scraps plans for a national cryptocurrency exchange

boss

The Russian government is no longer planning to launch a regulated national cryptocurrency exchange but rather wants to regulate multiple crypto trading platforms. After introducing a plan to create a national crypto exchange in November 2022, Russian lawmakers have abandoned the idea, according to State Duma member Anatoly Aksakov. As previously reported, the local government was considering launching a unified crypto exchange as part of the Moscow Exchange. Instead of setting up a unified crypto exchange, Russia now wants to set rules for creating and managing such platforms, Aksakov said, the…

From the Field to the Blockchain: Cryptocurrency’s Impact on Sports

boss

The cryptocurrency sector has spread globally within a short time. The crypto sector was touted as the next big thing in its early years. However, not even the most ambitious executives would have predicted that the growth would be that rapid. Nowadays, Cryptocurrencies such as Bitcoin have permeated into nearly all industries, including the sports industry. The sports and crypto industries have maintained a close relationship recently. Perhaps it is because the sports industry was not too scared to try the new technology, even as other industries remained skeptical. The…

Binance and Gulf Energy’s Partnership Secures License for Regulated Crypto Exchange in Thailand

boss

Gulf Binance, a collaboration between cryptocurrency exchange Binance and Gulf Innova, the innovation arm of Gulf Energy, has secured a digital asset operator license in Thailand. The Ministry of Finance in Thailand granted the license, giving Gulf Binance the green light to proceed with its plans to establish a regulated cryptocurrency exchange and brokerage. According to a press release, the platform is expected to be launched by the end of this year. The strategic partnership between Binance and Gulf Energy’s Gulf Innova aims to leverage Binance’s expertise in the crypto…

Crypto Exchange Gemini Launches European HQ in Ireland Amid Swirling US Regulatory Uncertainty

boss

Crypto exchange Gemini has found a new European headquarters as regulators in the US remain hostile toward the digital asset industry. On Thursday, Cameron Winklevoss, who co-founded the exchange with his twin brother Tyler, announced his company would be setting up a regional HQ in Ireland. “Awesome meeting this morning with Leo Varadkar, the Prime Minister of Ireland. We talked about the profound promise of crypto and the importance of common sense regulation to realize that promise. We believe MiCA is that common sense regulation. We also announced that Gemini…