Recent revelations from Coinbase’s chief legal officer, Paul Grewal, have shed light on the Federal Deposit Insurance Corporation’s (FDIC) formal stance regarding cryptocurrency banking services. Grewal unveiled documents on December 6, 2024, after a Freedom of Information Act (FOIA) request, which shows that the FDIC not only encouraged banks to refrain from providing crypto-related services
Exchanges
In an ambitious effort to broaden its services and solidify its position in the competitive financial landscape, Crypto.com has ventured into the realm of traditional finance by launching stock and exchange-traded fund (ETF) trading within its platform. This strategic announcement made on January 3 indicates that not only can users manage their cryptocurrency holdings, but
In a significant development within the tumultuous landscape of cryptocurrency, the Celsius Network has initiated an appeal against a ruling by Judge John Dorsey, which dismissed its $2 billion disparagement claim against the now-defunct FTX exchange. Filed on December 31, the appeal underscores the ongoing legal entanglements faced by both companies, which have been severely
In a decisive move, Malaysia’s Securities Commission (SC) has mandated that Bybit, a well-known cryptocurrency exchange, and its CEO Ben Zhou shut down all operations within the country. This action underscores the persistent issues surrounding regulatory compliance that have plagued the crypto industry globally. The SC’s recent announcement explicitly cites Bybit’s inability to obtain the
Starting January 2025, Bitget Wallet is set to revolutionize how cryptocurrency users handle gas fees through its newly announced GetGas feature, which prioritizes the use of its native BGB token. This initiative aims to simplify transactions across multiple blockchain platforms including Ethereum, Solana, BNB Chain, Polygon, Base, Arbitrum, Optimism, TON, and Tron. By allowing users
In a significant legal development, the U.S. authorities have firmly denied Sam Bankman-Fried’s appeal aimed at overturning his conviction linked to the spectacular collapse of the FTX cryptocurrency exchange. The court’s recent ruling serves as a crucial reflection of the judicial system’s stance on fraud cases and the complexities surrounding Bankman-Fried’s allegations of judicial bias
WazirX, an Indian cryptocurrency exchange, finds itself ensnared in escalating legal and operational challenges following a troubling directive from the Delhi High Court on December 18. This ruling has mandated a renewed investigation into the platform, coinciding perilously with Binance’s announcement to delist its native token, WRX. The court’s involvement derives from a petition lodged
The Australian Securities and Investment Commission (ASIC) has initiated a significant lawsuit against Oztures Trading Ltd, the operator of Binance Australia Derivatives. This legal action is based on allegations of inadequate customer protection practices, specifically targeting the misclassification of retail investors as wholesale clients. This move has raised essential questions about investor rights and the
In an age where digital currencies are interwoven with daily financial transactions, transparency has become paramount for cryptocurrency platforms. Coinbase, a leading player in this sector, has released a transparency report detailing its interactions with global law enforcement and government entities. The report revealed a total of 10,707 requests for information, which reflects an 18%
In the ever-evolving landscape of cryptocurrency, regulatory measures and corporate governance are paramount issues facing exchanges and their listed assets. This is exemplified by the recent legal skirmish between Coinbase, a leading cryptocurrency exchange, and BiT Global regarding the delisting of wrapped Bitcoin (WBTC). At the heart of this dispute lies the question of platform