Tag: Exchange

Crypto.com Exchange Secures ‘In-Principle’ MiCA License, Paving the Way for Full European Union Approval

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The Singapore-based exchange Crypto.com has secured an “in-principle” license to operate under the European Union’s new digital asset regulatory framework. Crypto.com bills itself as the “first major global crypto asset service provider” to receive a Markets in Crypto Assets (MiCA) approval. MiCA is new EU legislation that establishes rules covering the supervision, consumer protection and environmental safeguards of crypto assets. The regulatory framework, which took effect in December, includes measures that aim to reduce financial crimes including market manipulation, money laundering and terrorist financing. It also places stablecoin issuers under…

Lancashire police recover £28m in Bitcoin fraud involving Australian crypto exchange

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Police have seized £28 million (US$34 million) in assets from an international Bitcoin fraud gang that exploited a glitch in an Australian cryptocurrency trading website. As per the report by the Lancashire Telegraph, the investigation centered around James Parker from Blackpool, who identified the vulnerability in 2017. Over three months, Parker and his associates stole more than £20 million in credits through the security flaw. The scheme’s proceeds were laundered with help from Stephen Boys of Clayton-le-Moors, who earned the nickname “Rodney” from “Only Fools and Horses.” The investigation revealed…

Crypto Exchange WazirX Freezes $3,000,000 Worth of USDT Related to Last Year’s Massive $230,000,000 Hack

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The Indian crypto exchange WazirX says it has frozen $3 million worth of the stablecoin USDT connected to the massive $230 million hack on its platform last year. WazirX says the freeze represents an “important milestone” in recovering user assets. “Why This Matters: » Rapid Action: Freezing the funds stops them from being moved and helps with the recovery process. » Focus on Recovery: Every measure is being taken to address the cyberattack’s impact and recover additional funds. » Commitment to Users: Every amount frozen & recovered strengthens our mission…

Top US-Based Crypto Exchange Coinbase Announces Bitcoin (BTC)-Backed USDC Loans

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The top crypto exchange by trading volume in the United States is launching a new Bitcoin (BTC)-backed loan program for US clients. In a new announcement to the social media platform X, Coinbase says users will be able to borrow USDC against BTC with the new program. “Bitcoin-backed loans are here. Borrow USDC against bitcoin, without selling it. Rolling out to US users (ex. NY) starting now. More collateral assets and regions to come. Powered by MorphoLabs and built on Base. The future of finance is onchain.” According to an…

South Korea's Crypto Exchange Upbit Faces Suspension Over KYC Violations

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South Korea’s top cryptocurrency exchange, Upbit, is facing a regulatory storm. Accused of breaching Know Your Customer (KYC) obligations, the platform faces a suspension that could bar it from registering new users for six months. According to local media publication Naver, The Financial Intelligence Unit (FIU), part of South Korea’s Financial Services Commission, issued the suspension notice following a review of Upbit’s business license renewal. FIU Cracks Down on KYC Failures According to the report, the regulator discovered between 500,000 and 700,000 instances of improper KYC verification. This revelation could…

Crypto Options Exchange Deribit Is Evaluating Buyout Offers

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Deribit, a major venue for trading cryptocurrency options, is reviewing offers from potential acquirers, according to a Bloomberg report. The American crypto giant Kraken expressed interest in acquiring the options trading platform but did not proceed further. The exchange could be valued between $4 billion and $5 billion. “Not Been Put Up for Sale” Although Deribit has not disclosed any plans for a sale, it acknowledged receiving investment interest. “In short, Deribit has not been put up for sale,” Deribit stated to the publication. “Over time, we have received interest…

$1.1M Penalty Slammed on Mosaic Exchange in Crypto Fraud Scandal

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A crypto firm has been fined $1.1 million for deceiving customers and misusing funds, as the CFTC highlights growing concerns about unregistered investment schemes. CFTC Strikes: Fraudulent Crypto Firm Banned, $1.1 Million Fine Issued The Commodity Futures Trading Commission (CFTC) announced on Monday that Mosaic Exchange Ltd. and its CEO, Sean Michael, have been ordered […] Source

Crypto Exchange Gate.io Posts 120% Volume Growth in 2024 to $3.8 Trillion

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How Modern Consumer Habits Are Transforming Global Payments How Modern Consumer Habits Are Transforming Global Payments How Modern Consumer Habits Are Transforming Global Payments How Modern Consumer Habits Are Transforming Global Payments How Modern Consumer Habits Are Transforming Global Payments How Modern Consumer Habits Are Transforming Global Payments The evolution of consumer expectations is reshaping the payments sphere worldwide. From seamless in-store purchases to instant cross-border transfers, the demand for secure and frictionless payment solutions is transforming how businesses and financial institutions approach transactions. But what does this mean for…

Ripple Eyes Major Exchange Listings for RLUSD: Are Coinbase and Binance Next?

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Ripple is doubling down on RLUSD’s growth, eyeing major exchange listings like Coinbase, leveraging regulatory approval, and betting on institutional demand to dominate the stablecoin market. Ripple Eyes More Exchange Listings for RLUSD: Is Coinbase in Sight? Ripple is intensifying efforts to expand its U.S. dollar-pegged stablecoin, RLUSD, aiming to secure listings on prominent exchanges […] Source

Three Under-the-Radar Altcoins Skyrocket After Top Crypto Exchange Binance Rolls Out Trading Support

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Three low-cap altcoins skyrocketed in price on Friday after Binance added trading support for the crypto assets. The top global crypto exchange by trading volume listed aixbt by Virtuals (AIXBT), ChainGPT (CGPT) and Cookie DAO (COOKIE). CGPT, the native asset for ChainGPT, a web3 artificial intelligence (AI) infrastructure project, witnessed particularly pronounced gains, ripping by about 105% from $0.2 to $0.41 in a 24-hour period between Thursday and Friday. The 301st-ranked crypto asset by market cap has given up some of its gains and is trading at $0.346 at time…