The Australian Transaction Reports and Analysis Centre (AUSTRAC) has taken significant steps to bolster the enforcement of Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regulations, specifically targeting crypto ATM operators. This proactive stance comes in response to the growing trend of utilizing crypto ATMs for money laundering and various illicit financial activities. Despite Australia boasting approximately
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In an era where regulatory scrutiny is intensifying, the Coinbase-led Travel Rule Universal Solution Technology (TRUST) initiative has introduced a pioneering platform known as TRUSThub. Announced on December 5, this platform is poised to transform the way Virtual Asset Service Providers (VASPs) handle data transmission related to cryptocurrency transactions. By bridging the compliance gap, TRUSThub
Woori Technology, a prominent venture capital firm in South Korea, is contemplating the divestment of its stake in Dunamu, the operator of the widely-used Upbit cryptocurrency exchange. As the leading crypto trading platform within South Korea, Upbit has become a focal point for both local traders and international investors. Woori’s financial involvement spans back to
The cryptocurrency landscape in Japan has witnessed radical changes recently, especially with the strategic moves made by SBI VC Trade, a subsidiary of the notable SBI Holdings. This development underscores not only the growing popularity of crypto in the region but also the urgent need for stronger security and trust in trading platforms. As one
In a significant move to enhance user experience, Coinbase has integrated Apple Pay into its Coinbase Onramp service as of December 2, 2023. This integration not only reflects Coinbase’s commitment to evolving crypto accessibility but also aims to simplify the process for users who wish to convert their fiat currencies into cryptocurrencies. Historically, many potential
The European Economic Area (EEA) is bracing for significant regulatory changes with the impending Markets in Crypto-Assets (MiCA) framework, set to reshape how digital assets operate within its jurisdictions. The recent announcement by Coinbase to end rewards for USD Coin (USDC) holders in the EEA effective December 1 highlights the swift impact of these regulations
In a groundbreaking development for the cryptocurrency landscape, Cboe Global Markets is set to unveil the first-ever cash-settled options linked to the spot price of Bitcoin (BTC) on December 2. This novel financial instrument is designed to provide investors with exposure to Bitcoin’s price movements while circumventing the need for direct ownership of the cryptocurrency.
FTX, the cryptocurrency trading platform that suffered a catastrophic collapse in November 2022, has charted a hopeful course towards recovery. In an announcement that comes as a sigh of relief to countless creditors and customers, FTX and its associated debtors revealed they are aiming to finalize their Chapter 11 Plan of Reorganization by January 2025.
In 2019, the Upbit exchange experienced one of the most significant cyberattacks in the cryptocurrency realm, resulting in the theft of 342,000 Ethereum (ETH). This brazen heist, connected to North Korean hacker groups Lazarus and Andariel, exposed vulnerabilities in the security infrastructure of cryptocurrency platforms. As the dust settles years later, South Korean authorities have
In a significant development within the cryptocurrency arena, Binance has unveiled a new yield-bearing stablecoin named BFUSD, specifically tailored for futures and perpetual traders. Announced on November 18, this stablecoin aims to reshape the trading experience by offering an enticing annual percentage yield (APY) of approximately 19.55%. This yield enables users to earn rewards daily