Exchange Archives

Indian Crypto Exchange CoinDCX Reduces Headcount by 12%

August 22, 2023 boss

Leading Indian crypto exchange CoinDCX has announced a 12% reduction in headcount due to a prolonged bear market and difficult tax policies in the domestic market. The Mumbai-based company has about 590 employees and about 71 are affected by the lay-off decision. CoinDCX was founded in 2018 by Neeraj Khandelwal and Sumit Gupta. The company has offered a support package to the outgoing employees, which consists of “severance pay equivalent to the full notice period, additional one month of salary, variable pay & incentives dues, encashment of unutilised leaves, extension…

Crypto Exchange Gemini Slams SEC in New Court Brief in Lawsuit Over Earn Program

August 21, 2023 boss

Crypto exchange Gemini is calling out the U.S. Securities and Exchange Commission (SEC) in its lawsuit over the platform’s Earn program. In a lengthy post, Gemini lawyer Jack Baughman says that the SEC’s lawsuit targeting the protocol’s Earn program, which allowed customers to loan their digital assets to crypto firm Genesis as a means of earning interest, is “absurd” and contradictory. “The SEC is floundering. They can’t even decide what the security is. On the one hand, they claim that the loan agreement was a security. On the other hand,…

Ethereum Co-Founder Vitalik Buterin Sends $1M ETH to Crypto Exchange Coinbase

August 21, 2023

The move comes as ether, the second largest cryptocurrency by market capitalization suffered a 10% decline over the last seven days, amid a broad market downturn which saw traders witness $1 billion in liquidations. Ether has recovered slightly on Monday, trading in the green over the last 24 hours at $1,700. Source

Crypto Exchange Bitget to Tighten Know-Your-Customer (KYC) Requirements Starting Sept. 1

August 21, 2023 boss

From Sept. 1, new customers will have to complete level 1 KYC verification, which involves submitting an identity document like a passport and completing facial authentication. Existing customers have until Oct. 1 to complete the process, after which time they will only be able to withdraw, cancel orders or close positions, Bitget announced on Monday. Source

U.S. Securities and Exchange Commission Inches Closer to Appealing the XRP Decision in Ripple Lawsuit

August 18, 2023 boss

The U.S. Securities and Exchange Commission (SEC) is getting closer to filing an appeal on their recent partial defeat in their lawsuit against Ripple. James K. Filan, a defense lawyer and crypto legal expert, notes that District Judge Analisa Torres has set a briefing schedule for “the SEC’s request to file a motion for leave to file an interlocutory appeal.” “This does not mean an interlocutory appeal has been authorized. It just means the SEC is allowed to request it.” Torres says in her order that the SEC should file…

Mexican crypto exchange Bitso launches international service

August 18, 2023

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Mexican crypto exchange, Bitso, will launch an international payments service. The main aim of the new service is to connect the Latin American region with the rest of the world. It will allow companies to send and receive international payments in cryptocurrencies, fiat money and stablecoins. “With this launch, we seek to boost the economies of our region, by facilitating operations between countries and opening trade corridors that increase the development and prosperity of Latin…

Crypto Exchange Coinbase (COIN) Will Suspend Trading with Tether’s USDT, MakerDAO’s DAI and RAI Stablecoins in Canada

August 17, 2023

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Coinbase, Tarred as an Illicit Exchange by the SEC, Quietly Got Regulated Elsewhere in the U.S.

August 17, 2023

As Coinbase Inc. (COIN) scraps with the U.S. Securities and Exchange Commission (SEC) on its right to exist as an exchange, the company has achieved an unprecedented milestone in U.S. oversight by winning approval to handle customers’ buying and selling of crypto futures. Source

XRP Options Now Available on Crypto Exchange BIT

August 17, 2023

“We are proud to become one of the first exchanges making XRP options trading accessible to both institutional and retail traders, enabling long and short for options traders at the same time. We look forward to bringing this product to more traders and investors alike across the globe,” Justin Buitendam, global head of institutional sales at BIT, said in the press release. Source

Strict Canadian crypto exchange rules allowed Kraken clarity to invest there, exec says

August 16, 2023 boss

Size and energy allowed Kraken to stay in Canada after the imposition of new registration requirements for crypto exchanges in February. But in spite of the demanding process, the regulatory clarity has benefited the company, Kraken managing director for Canada Mark Greenberg said. Speaking to Cointelegraph’s Sam Bourgi at the Blockchain Futurist Conference in Toronto, Greenberg had positive things to say about the Canadian regulatory environment: “The Canadian regulators have been collaborative, helpful. […] There’s a clear regulatory pathway. It’s allowed us to invest in the country.” Kraken has a…