In 2024, Kazakhstan embarked on a significant campaign to eliminate illegal cryptocurrency exchanges, responding to the escalating threat of money laundering and other criminal activities. The Financial Monitoring Agency (AFM) of Kazakhstan took decisive action, dismantling 36 unauthorized exchanges that collectively handled transactions exceeding $100 million. Furthermore, the agency restricted access to over 3,500 unregistered
Exchanges
Crypto.com has marked a significant evolution in the financial landscape by expanding its service suite in the United States. In a recent announcement, the platform unveiled the launch of stock and exchange-traded fund (ETF) trading alongside its established cryptocurrency offerings. This strategic move allows users to manage a diversified portfolio that includes not just digital
The cryptocurrency landscape in the United States has become increasingly fraught with challenges as regulatory bodies assert their influence. Notably, Coinbase’s Chief Legal Officer, Paul Grewal, recently made headlines by unveiling documents that indicate the Federal Deposit Insurance Corporation (FDIC) has not only issued warnings to banks about engaging in cryptocurrency-related services but has also
On December 16, FTX and its associated debtors revealed that their reorganization plan is set to take effect on January 3, 2025. This long-awaited announcement has generated optimism among the many creditors and customers affected by the company’s collapse in November 2022. With the promise of beginning distributions within 60 days of the plan’s activation,
The cryptocurrency market has always been a double-edged sword, offering both extraordinary opportunities and significant risks. The recent legal skirmish between Celsius Network and the collapsed crypto exchange FTX epitomizes these challenges. On December 31, Celsius Network took a decisive step by filing a notice of appeal to challenge the ruling made by Judge John
In a pivotal announcement on January 2, Binance, the world’s leading cryptocurrency exchange by trading volume, received regulatory approval from Brazil’s Central Bank to acquire Sim;paul, a licensed broker-dealer. This development signifies Binance as the first cryptocurrency exchange in Brazil to secure such a license, opening up a plethora of opportunities for the company to
The Malaysian Securities Commission (SC) has taken decisive action against the cryptocurrency exchange Bybit, directing both the platform and its CEO, Ben Zhou, to halt all operations within the country. This move arises from Bybit’s failure to obtain the necessary approval to function as a digital asset exchange (DAX) within Malaysia’s regulatory framework. The SC
In a bold move that marks a significant advancement in the realm of decentralized finance (DeFi), Bitget Wallet is set to implement a pioneering feature known as GetGas in January 2025. This update aims to enhance the user experience by allowing the native BGB token to be used for gas fees across multiple blockchains. With
The downfall of FTX, once a colossal player in the cryptocurrency market, has reverberated across the financial landscape, drawing intense scrutiny and legal battles. Central to this saga is Sam Bankman-Fried, the founder, whose recent legal troubles kept him in the limelight. As bankruptcy and allegations of fraudulent activity engulfed FTX, Bankman-Fried stood trial, ultimately
WazirX, one of India’s leading cryptocurrency exchanges, is currently facing a significant legal and regulatory crisis. On December 18, 2024, the Delhi High Court mandated a renewed investigation into the platform, coinciding with Binance’s announcement to delist WazirX’s native token, WRX. This simultaneous occurrence is not just a coincidence but rather a reflection of WazirX’s
