Binance bought Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange regulated by the country’s Financial Services Agency (FSA), for an undisclosed amount. Source
Binance Enters Japan With Acquisition of Regulated Crypto Exchange Sakura
Category: Exchanges
Crypto Exchange Kraken Settles With Treasury Department Over Sanctions Violations – Regulation Bitcoin News
Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) over its apparent violations of sanctions against Iran. The cryptocurrency exchange has agreed to remit $362,159 to settle its potential civil liability and invest an additional $100,000 in certain sanctions compliance controls. Kraken Settles With OFAC The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Monday a settlement with Payward Inc. (d/b/a Kraken), a Delaware-incorporated crypto exchange. The announcement states: Kraken agreed to remit $362,158.70 to settle its…
Coin Bureau Host Predicts Centralized Crypto Exchanges Will Be Displaced in Coming Years
A popular crypto analyst thinks decentralized exchanges (DEXs) will take over crypto in the wake of the recent FTX collapse that spurred fears about centralized exchange (CEX) transparency. Despite his own prediction, pseudonymous Coin Bureau host Guy warns his 2.17 million YouTube subscribers that it will take “some time” time before the DEX experience can rival that of centralized exchanges. DEXs are more difficult for beginners and less flexible for experts, according to the analyst. “These technologies are still very much in their infancy, but I could see an order-book-based,…
US lawmaker questions major crypto exchanges on consumer protection amid FTX collapse
Ron Wyden, chair for the United States Senate Finance Committee, has requested information from six crypto firms on consumer protection following FTX’s liquidity issues and bankruptcy. In separate letters dated on Nov. 28, Wyden targeted Binance, Coinbase, Bitfinex, Gemini, Kraken and KuCoin, requesting information on what protections the exchanges had in place if a failure like the one that happened at FTX occurred. The senator said that crypto users who had funds with FTX had “no such protections” like those at banks or registered brokers under the Federal Deposit Insurance…
Libertex crypto exchange head Vyacheslav Taran dies in helicopter crash in France
Russian billionaire Vyacheslav Taran, president of Libertex Group and founder of Forex Club, died Nov. 25 in a helicopter crash in France while en route from Lausanne to Monaco, Switzerland. He was 53. The helicopter pilot, the only other person aboard the craft, also died. Libertex has confirmed Taran’s death, stating: “It is with great sadness that Libertex Group confirms the death of its co-founder and Chairman of Board of Directors, Vyacheslav Taran, after a helicopter crash that took place en route to Monaco on Friday, 25 November 2022.” Taran,…
Collapsed Crypto Exchange FTX Resumes Normal Salary Payments to Employees Worldwide
Beleaguered crypto exchange FTX says most of its subsidiaries are resuming salary and benefit payments to employees after being interrupted during the company’s insolvency crisis. In a statement, FTX’s new CEO John J. Ray III says that ordinary course payment will also resume for some of the firm’s non-US contractors and service providers to preserve business operations. Ray says the company acknowledges the inconvenience caused by the interruptions in payments, and thanks employees and partners for their support. “With the Court’s approval of our First Day motions and the work…
Korean Crypto Exchange Upbit's Parent Q3 Profit Slides 73%: Report
Dunamu’s net profit dropped to 160 billion won ($120 million), hit by lower trading and crypto market declines, CoinDesk Korea reported Tuesday. Source
Japan’s LINE Shuts Down Crypto Exchange Bitfront, Cites Industry Challenges
Japanese messaging giant LINE has decided to shut down its Bitfront cryptocurrency exchange and will halt all withdrawals from the platform in March 2023. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. Bitfront announced the development on Monday in a statement published on its website, noting the decision “is unrelated to recent issues related to certain exchanges that have been accused of misconduct.” The collapse of FTX, a once-beloved Bahamas-headquartered cryptocurrency exchange,…
Social Media Giant LINE Closes Its Crypto Exchange Bitfront
Bitfront is one of several crypto companies that has been forced to cease operations during the year-long cryptocurrency bear market. FTX filed for bankruptcy earlier this month following a liquidity squeeze that spawned out of a 75% corrective phase in the crypto market. Bitcoin is currently trading at $16,400 down from $69,000 this time last year. Source
Cryptocurrency Fraud in UK Rises by 32% to $270m
In one year, the value of financial losses due to cryptocurrency fraud increased by 32%, according to data from the UK Police Action Fraud unit seen by the Financial Times. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. From October 2021 to September 2022, losses from cryptocurrency fraudsters’ actions amounted to £226 million, which is significantly more than in the same period a year earlier. The number of reported offences alone exceeded…