Tag: Exchange

South Korean exchange Upbit gets initial license nod from Singapore

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The Singapore entity for Upbit, South Korea’s largest exchange by volume, has been given in-principal approval for a Major Payment Institution (MPI) license in Singapore. On Oct. 16, Upbit Singapore said the Monetary Authority of Singapore (MAS) gave the in-principle license nod, allowing it to continue with digital payment token services to institutional investors while awaiting its full license. Upbit Singapore founder and CEO Alex Kim said in a statement that the firm was founded in 2018 but called the recent approval a strategic milestone for it to deepen its…

Binance.US Updates Crypto Listing Process, Says Exchange Considering Launching Trading Support for Aptos Rival

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Binance’s US arm is updating the way it lists crypto assets by giving traders advance notice when it is considering adding trading support for a new token. Binance.US says the new procedure aims to provide additional transparency to its listing process. The first asset the exchange is evaluating with the new process is the native token of the recently launched layer-1 blockchain Sui Network (SUI). Sui Network’s mainnet first went live in early May. The project is an Aptos (APT) rival and uses the same coding language, Move, which was…

China’s Didi Gears Up for Hong Kong Stock Exchange IPO in 2024

Didi was initially listed on the New York Stock Exchange but then it was compelled to delist due to regulatory issues in China. Chinese ride-hailing giant, Didi Global Inc (NYSE: DIDI) is reportedly making strategic moves in preparation for its upcoming Initial Public Offering (IPO) on the Hong Kong Stock Exchange (HSE) next year. People with knowledge of the matter stated that the company recently informed its employees that they have the option to sell their shares as part of an employee stock ownership program. This program provides a liquidity…

Russia’s stock exchange ready to list Bitcoin under one condition

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Russia’s second-largest bourse is ready to be the first in the country to add support for cryptocurrencies. Saint Petersburg Stock Exchange (SPB Exchange) will list a whole set of cryptocurrencies, including Bitcoin (BTC), once the government legalizes the industry, local news agency TASS reports, citing the exchange’s head Roman Goryunov. Although the time frame was not specified, Goryunov said one day, the world of crypto will merge with the world of traditional financial instruments. He also emphasized the exchange will be the first trading platform to trade crypto in Russia…

USDT Whale Activity Heating Up As Exchange Deposits Rapidly Accelerate, According to Analytics Firm Santiment

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Top stablecoin USDT is witnessing a surge in on-chain activity, according to the crypto analytics firm Santiment. Santiment notes that USDT, which is issued by Tether and aims to maintain to maintain a 1:1 peg with the US dollar, recently notched a three-month high in active addresses, in large part due to an increase in exchange deposits. Earlier this week, Santiment noted that the amount of USDT on exchanges had reached a level last seen in March 2023, giving a boost to the “buying power” of crypto investors. USDT had…

Alameda Research Accused Of Bribing Chinese Officials To Recover $1 Billion In Exchange Accounts

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During the trial of Sam Bankman-Fried, the founder of crypto exchange FTX, shocking revelations emerged from the testimony of former Alameda Research CEO Caroline Ellison.  According to a TechCrunch report, Ellison testified that the crypto trading firm paid Chinese officials to unlock their Alameda trading accounts on OKX and Huobi in China. Judge Lewis Kaplan clarified that Bankman-Fried was not charged with bribery in this case. Still, the evidence was presented to demonstrate trust, confidence, and motive between Bankman-Fried and Ellison. Alameda Research Former CEO Exposes Hidden Payments To Chinese…

Hata receives in-principle approval to be fifth Malaysian digital exchange

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The Malaysia-based Hata has received in-principle approval from Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. The approval means Hata could launch its services in six to nine months. Hata will become the fifth regulated digital asset exchange in Malaysia and the first legal entity to receiveapproval as a digital broker, allowing it to display trade orders from other regulated exchanges. Hata also received a money broker license from the Labuan Financial Services Authority in June, allowing it…

USDC issuer partners with Philippines exchange to promote stablecoin

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Circle, the issuer of the U.S. dollar-pegged stablecoin, USDC (USDC), is increasing its presence in the Philippines with a new local partnership. On Oct. 10, Circle announced a strategic partnership with Coins.ph, a major cryptocurrency exchange and digital wallet provider in the Philippines. As part of the partnership, Coins.ph and Circle will work jointly to drive awareness of USDC payments and help Filipino people pay less for cross-border money transfers and make faster transactions, the companies said. The average cost of sending a $200 payment to Asia was 5.7% in…

Trader Joe’s supermarket files lawsuit against namesake crypto exchange

Trader Joe’s supermarket has initiated legal action against a similarly named decentralized cryptocurrency exchange, alleging trademark infringement and brand dilution. U.S. grocery retailer Trader Joe’s has initiated a lawsuit in a California court against a cryptocurrency trading platform that goes by an almost identical name. The legal action targets both the platform, named “Trader Joe,” and its co-founder Cheng Chieh Liu. The supermarket’s legal team contends that the naming of the decentralized cryptocurrency exchange aims deliberately to blur the lines between the two entities. Trader Joe’s lawyers argue that the…