Gate.io exchange halts Japanese operations due to FSA regulatory compliance demands

1 min read

Gate.io, a prominent crypto exchange, has said that it will halt its services for consumers in Japan as a result of regulatory obstacles imposed by the Financial Services Agency (FSA) of Japan. The decision is a response to compliance requests from the FSA and will also result in the cessation of new account openings for Japanese users. Japan’s stringent laws for crypto trading, such as the Payment Services Act (PSA),

Cryptocurrency exchange OKX to stop offering services in Niger

2 mins read

OKX, a cryptocurrency exchange, has announced its withdrawal from Nigeria. Starting from July 17, 2024, all services provided to Nigerian customers will be terminated. This decision is a result of recent modifications in local legislation and regulations. The decision comes after Naira withdrawals were halted in May 2024, also due to regulatory concerns. Subsequently, the Nigerian government levied allegations against Binance, asserting that the crypto exchange had engaged in the

Gemini crypto exchange settles a nearly two-year-old $36 million crypto theft lawsuit

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The Gemini crypto exchange has reached a settlement with IRA Financial Trust regarding the misappropriation of $36 million from its crypto fund. The controversy commenced in February 2022 and revolved around Gemini’s purportedly deceptive security assertions. IRA Financial Trust said that Gemini neglected to adequately convey the significance of safeguarding the master key, resulting in the occurrence of the theft. Gemini’s habit of transmitting unsecured and unencrypted emails using the

FireUp Finance Launches Its Alpha Mainnet on Binance Smart Chain (BSC)

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FireUp Finance has initiated the deployment of its Alpha Mainnet, signifying the shift from the development phase to a fully functional and active ecosystem. The platform prioritizes user experience, self-custody, and transparent pricing, which will lead to a new era in decentralized finance (DeFi) possibilities. Waveslab Ventures, a blockchain firm, addressed its confidence in FireUp Finance’s infrastructure and its ability to make a valuable contribution to the DeFi ecosystem. They

Vitalik Buterin urges the crypto community to support politicians who uphold decentralization

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Vitalik Buterin, co-founder of Ethereum, has voiced reservations over the political strategy of the crypto movement. He argues that just endorsing candidates based only on their support for crypto is insufficient. He stressed the need for political candidates to endorse overarching principles such as decentralization, privacy, and technological freedom. He also cautioned against the potential long-term dangers of limiting the criteria for supporting political politicians. Buterin criticized the increasing tendency

ChromaWay Collaborate with EU to Implement Chromia Technology

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ChromaWay has announced its ongoing partnership with the European Union in the advancement of blockchain-powered sustainability solutions. The collaboration was showcased during the EU PCP final review meeting, in conjunction with the European Blockchain Services Infrastructure (EBSI) project of the European Union. The outcomes, presented under its institutional brand RBN Eco, demonstrated the progress made in creating decentralized applications for Digital Product Passports and Intellectual Property Rights. The solutions are

Dutch court denies bail for Tornado Cash developer Alexey Pertsev

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Alexey Pertsev, a developer for Tornado Cash, has been refused release on bail by a Dutch court while he challenges a conviction for money laundering. Pertsev received a five-year and four-month prison sentence from a three-judge panel in the Netherlands. Notwithstanding the diligent endeavors of his legal team to get bail and make arrangements for the appeal to be conducted from his residence, the court declined, resulting in his detention

FDIC nominee Christy Goldsmith Romero proposes banks should choose if they serve crypto firms

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Christy Goldsmith Romero, the nominee for Chair of the FDIC, has suggested that banks should have the autonomy to determine whether or not they will provide services to digital asset companies. The FDIC’s departure from its earlier conservative position on cryptocurrency may foster improved collaboration between US financial institutions and the crypto industry, thereby mitigating current limitations. Faryar Shirzad, the Chief Policy Officer of Coinbase, underscored the significance of Romero’s

The SEC faces setbacks but continues its aggressive crackdown on the crypto industry

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The Securities and Exchange Commission (SEC) has faced numerous legal challenges, including a court sanction in Utah, during its tenure as chairman. Gary Gensler, who became SEC chairman in 2021, initially aimed to crack down on the crypto industry but quickly showed skepticism towards it. During his tenure, the SEC filed numerous lawsuits against major players like Coinbase, Binance, and Terraform Labs. While the SEC has won or settled several

Nearly $100 billion in illicit crypto flows since 2019 target stablecoins and centralized exchanges

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According to a study by Bloomberg, over $100 billion of illegal cash have been transferred via the cryptocurrency market since 2019, causing substantial effects on stablecoins and controlled exchanges. Stablecoins are being utilized more frequently by criminals, and they currently account for the majority of illegal transactions inside the cryptocurrency realm. More than 50% of these illegal money are ultimately deposited into controlled exchanges like as Binance and Coinbase. Kim

US District Judge advises Coinbase to reconsider subpoena for SEC Chair Gensler

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The US District Judge Katherine Polk Failla has recommended that Coinbase exchange either abandon or modify its attempts to obtain US Securities and Exchange Commission (SEC) Chair Gary Gensler’s personal communications through a subpoena. The hearing was conducted in response to the SEC’s petition to prevent Coinbase’s subpoena, which granted access to Gensler’s correspondence pertaining to cryptocurrencies. Judge Failla expressed astonishment at Coinbase’s request and recommended that the exchange submit

A Web3 market maker and investment firm announces plans for continued growth

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DWF Labs, a Web3 market maker and investment firm, has announced plans for continued growth and innovation amidst challenging market conditions. The company has been expanding since its inception and is focusing on transparency and fair market practices. In 2023, DWF Labs was recognized by Binance as the most active investor and Bybit’s top liquidity provider. The firm aims to be the next-generation liquidity partner, providing end-to-end support for its