Bankruptcy claims exchange OPNX has issued a new governance token that is designed to reduce trading fees on the platform. Source
Bankruptcy Claims Exchange OPNX Issues New Governance Token, FLEX Rises 16%
Tag: Exchange
Cryptocurrency Exchange Crypto.com Receives Digital Token License from Monetary Authority of Singapore (MAS)
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Crypto Exchange Kraken’s Canada Customer Deposits Rose 25% After Binance Announced Departure
Kraken also saw a fivefold increase in app downloads within a week of OKX saying it was leaving the country back in March. Source
Winklevoss twins’ crypto exchange Gemini to seek UAE crypto license
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
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…
Crypto exchange Bybit exits Canada, citing ‘recent regulatory development’
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 Bybit Exits Canada Citing Recent Regulatory Development
Bybit has announced that it will be exiting the Canadian market starting as soon as May 31 due to recent regulatory developments in the country, adding to several other exchanges that pulled out from the country. Source
Decentralized exchange PancakeSwap moves into GameFi
On May 29, decentralized exchange (DEX) PancakeSwap announced that it had launched a new tower-defense GameFi game in conjunction with BNB GameFi protocol Mobox. Dubbed “Pancake Protectors,” the game allows players to utilize the DEX’s native CAKE tokens to earn in-game rewards. Utilities for CAKE tokens within Pancake Protectors include accelerating the level-up process, purchasing in-game currency, claiming CAKE heroes, staking CAKE to earn resources, and unlocking game levels. There will also be an in-game marketplace for trading CAKE heroes, which can be further enhanced by participating in lotteries yielding…
Russia Shifts Strategy: Abandons National Crypto Exchange for Private Sector Regulation
The Russian Federation has reportedly decided to halt its plans to establish a national cryptocurrency exchange. It has instead decided to concentrate on regulating the private cryptocurrency sector. This decision aims to foster the development of a legal and regulatory framework for crypto businesses operating within the country, according to Anatoly Aksakov, the Head of Economy in the State Duma, media reports said. The move to regulate the private sector rather than rely on a centralized exchange will likely provide multiple advantages for Russia. By encouraging the establishment of compliant…
Russia Scraps Plan for a Crypto Exchange under MOEX
The Russian government has abandoned its plan to establish a national cryptocurrency exchange. Instead, the country now wants to set up rules to regulate cryptocurrency exchanges, according to the local news agency Izvestia, which cited State Duma member Anatoly Aksakov. The Russian lawmakers initially floated the idea of launching a unified cryptocurrency exchange as a part of the Moscow Exchange last year. However, the country’s Ministry of Finance was among the authorities against the development of such a government-backed crypto exchange. “The [Ministry] did not support the establishment of one…