Category: Exchanges

Ilies Larbi Leaves FXCM, Launches New Crypto Exchange

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In a Finance Magnates exclusive, we can reveal that FX industry veteran Ilies Larbi, has departed from FXCM after nearly 15 years of service. Larbi, a well-known and popular figure in the FX industry, has departed FXCM to launch Ouinex, an international crypto exchange headquartered in France. The Paris-based Larbi departs FXCM having most recently held the role of Global Head of Retail Partnerships for the last year and a half in a long and distinguished career with the international broker. Having started as a sales associate in 2007, Illes…

Digital Asset Exchange Crypto.com Makes Three Little-Known Altcoins Available for Trading

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Singapore-based exchange giant Crypto.com is rolling out support for three low-cap altcoins. Crypto.com recently announced the listing of the native token for the Akash Network (AKT), a decentralized open-source cloud network that supports decentralized finance, decentralized apps, and decentralized autonomous organizations. The cloud network also supports decentralized machine learning and artificial intelligence. AKT is trading at $0.88 at time of writing. The 308th-ranked crypto asset by market cap is down 13.7% in the past week and down 1.19% in the last 24 hours. Crypto.com is also launching support for FLUX,…

How to avoid front runners on decentralized crypto exchanges

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Decentralized exchanges (DEXs) nip in the bud several issues concerning their centralized counterparts such as concentration of liquidity in the hands of a few players, compromise of funds in case of a security breach, closed control structure and more. One issue, however, that has refused to subside is front-running. Unscrupulous players are still finding ways to defraud unsuspecting traders. If you have received less than expected when placing a trade on a DEX, there is a pretty good chance of you getting hit by front runners. These bad actors exploit…

Georgia to Unveil New Cryptocurrency Law by This Fall – Regulation Bitcoin News

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Authorities in Georgia are now holding discussions with industry representatives to finalize a bill designed to regulate coin trading, among other crypto-related activities. The legislation will be presented to the Georgian society this fall at the latest, a top central bank official announced. Central Bank of Georgia Talks Crypto Regulation With Market Players The National Bank of Georgia (NBG) is fine-tuning a draft law tailored to establish a legal framework for certain operations with cryptocurrencies with the help of interested parties from the sector. Public and business officials are currently…

Kazakhstan Amends Registration Rules for Cryptocurrency Miners – Mining Bitcoin News

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The government of Kazakhstan has revised the registration requirements for persons and companies involved in crypto mining. The updated regulations come amid an ongoing clampdown on the industry in the Central Asian nation, where the influx of miners has been blamed for persisting electricity shortages. Crypto Miners to File Quarterly Reports With Kazakhstan Authorities An order issued by Kazakhstan’s minister of digital development, Bagdat Musin, has expanded the registration and reporting requirements for those minting digital coins. The document obliges individual entrepreneurs and legal entities that intend to mine crypto…

Aussie exchange Swyftx to offer ‘no lock-in’ yield on crypto

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Swyftx exchange will begin offering interest-bearing yields on a wide range of cryptocurrency assets — the first Australian-operated crypto exchange to do so. Swyftx’s new product, called Earn, will offer Australian and New Zealand residents the ability to earn interest on 21 different digital assets, including large-cap cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA) and stablecoins like Tether (USDT) and USD Coin (USDC). Swyftx Chief Executive Officer, Ryan Parsons, said the exchange’s Earn feature was one of the most competitive in the crypto industry, as the Brisbane-based…

Crypto exchange Binance wins regulatory approval in France

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Binance CEO Changpeng Zhao gave a keynote at a Paris crypto industry event in April 2022 to debut a new accelerator program for so-called “Web3” start-ups. Benjamin Girette | Bloomberg | Getty Images Binance has been granted approval from regulators to operate its cryptocurrency exchange in France. The company is now listed as a registered digital asset service provider by the French stock market watchdog AMF, enabling it to offer trading and custody services for bitcoin and other cryptocurrencies. Binance is the largest crypto exchange globally. The company handles spot…

Crypto Exchange OKX Inks Multi-Year Sponsorship Deal with McLaren Racing

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Cryptocurrency companies are now seeing value in the race tracks. Malta-based OKX, which operates a global crypto exchange, announced on Wednesday its partnership with British Formula One team McLaren Racing. It is a major multi-year deal between the two. However, neither revealed the financial terms. Under the agreements of the sponsorship deal, OKX will get the status of McLaren Racing’s Official Primary Partner. Further, the crypto exchange will also become the primary partner of McLaren’s Shadow esports team, which debuted in 2017. The partnership between the two will be put…

Is Cryptocurrency Legal in the UK?

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Over the past few years, cryptocurrency has come into the public eye more than ever, as large investment firms begin to heavily invest in blue-chip cryptocurrencies like Bitcoin and Ethereum. Due to this spike in adoption from companies and the general public, governments all around the world have frantically tried to put in place proper regulations for crypto. The FCA and HMRC, which are the main bodies currently dealing with cryptocurrency regulation in the UK have been progressive in their view of crypto, the regulation it has received, and competent…