Tag: Binance

Coinbase and Binance settlement with SEC is a good idea, analyst says

Fineqia International’s Matteo Greco comments on Bittrex’s $24 million SEC settlement, drawing parallels with ongoing cases involving crypto giants Coinbase and Binance. Bittrex’s recent $24 million agreement with the SEC mirrors the one currently involving Coinbase and Binance, according to Fineqia International’s Matteo Greco. In two separate lawsuits, the SEC alleges that both Coinbase and Binance broke securities laws. Greco offers his take on how each company should proceed and whether the Ripple Labs outcome bodes well for the two crypto exchanges. Bittrex resolved charges that it was offering U.S.…

Binance Will Halt These 39 Liquidity Mining Pools This Week

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On Sunday, Binance announced that it will halt 39 liquidity mining pools this week following the latest assessment. As a result of a supposed failure to pass this assessment, these 39 liquidity pools are expected to stop operating on September 1, 2023. Liquidity Pools Stopped By Binance This decision was made due to the platform’s recent liquidity mining performance. The announcement said Binance Liquid Swap will “periodically review listed liquidity pools to concentrate liquidity for our users and ensure optimized trading experience, price and slippage.” As a result of the…

Ceffu Launches Newest Off-Exchange Settlement Solution MirrorX for Binance Institutional Users

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August 28, 2023 – Vilnus, Lithuania Ceffu, the institutional crypto custodian and partner of Binance – the world’s largest cryptocurrency exchange by trading volume – announced today the release of its newest off-exchange settlement solution, MirrorX. Launched as an evolution of its predecessor, this innovative custody solution provides institutional investors with the fastest gateway to the Binance Exchange – with instantaneous access to most of the products available in the Binance ecosystem, including spot, margin and futures trading – without needing to move their assets to the exchange. Digital assets…

Binance says it ‘continues to serve’ Belgian users via Poland entity

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After an order from the Belgian Financial Services and Markets Authority (FSMA), crypto exchange Binance announced its Poland entity would be providing services to residents of Belgium. In an Aug. 28 announcement, Binance said Binance Poland sp. z o.o. — an entity the exchange registered with Polish regulatory authorities in January — would comply with “regulatory obligations” for residents of Belgium looking for services on the exchange. According to Binance, some users may need to submit documentation in accordance with Know Your Customer requirements for Poland rather than Belgium. The announcement…

Binance sheds light on low-cap altcoin risk management process

In an email conversation with crypto.news, a Binance spokesperson discussed the exchange’s risk management approach and confirmed initiating contact with low-market cap altcoin projects. The initiative is part of Binance’s overall strategy to bolster trading activities on its platform and curb risks for its users. Binance aims to enhance liquidity protection Binance has confirmed initiating contact with low-market cap altcoin projects as part of its strategy to bolster trading activities on its platform and curb risks for its users. In the past week, the cryptocurrency exchange reportedly contacted various low-cap…

Binance under scrutiny, increased enforcement amid growing scams, Pepe’s drama

This week, Binance takes the spotlight amid allegations of market manipulation and sanction violations. Meanwhile, regulators ramp up enforcement actions against a backdrop of crypto-related crimes — the latest involving Pepe Coin. Binance’s SEPA concerns Binance emerged as a focal point of attention this week, owing to a sequence of circumstances.  The official Twitter support of the exchange alluded to a momentary cessation in EUR transfers, indicating the temporary suspension of SEPA transfers, without specifying a definite timeline for reinstatement. Despite the lack of explicit reasons, Binance’s efforts to keep…

Binance suspends P2P transactions with sanctioned Russian banks

Last year, crypto exchange Binance claimed that it no longer allowed customers to pay each other through sanctioned Russian banks. In reality, that wasn’t the case. The company’s crypto exchange’s peer-to-peer (P2P) service no longer recommends five blacklisted Russian financial institutions as a way to send and receive rubles. But the decision only came after the Wall Street Journal reported this week that Binance was helping Russians shift money out of the country. Binance has stopped offering clients the option to pay one another through sanctioned Russian banks, days after…

Coinbase-Circle re-alignment, Binance fiat hurdles, and USDC at Shopify

Global regulatory landscapes are once again proving to be a turning point for crypto companies, demanding constant adaptation to navigate shallow regulatory waters across the world, particularly in the United States. In the latest developments, Coinbase and Circle decided to dissolve the Centre Consortium in a strategic realignment driven by demand for regulatory clarity on stablecoins, possibly as an anticipation of upcoming legislation coming from the U.S. Congress. A legal alternative to remaining operational was also sought by Binance.US this week. The exchange announced a partnership with MoonPay featuring the…