Binance, the leading cryptocurrency exchange in terms of trading volume, recently announced that it successfully prevented over $2.4 billion in potential user losses from scams and fraud in the first seven months of 2024. A significant portion of these averted losses, over $1.1 billion, were related to withdrawals associated with suspected crypto scams. Thanks to
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Recently, German authorities seized $28 million in cash and shut down 13 crypto ATMs as part of a nationwide effort to combat unlicensed activities within the cryptocurrency market. The Federal Financial Supervisory Authority (BaFin) spearheaded this operation, working closely with law enforcement and the German central bank to crack down on unauthorized crypto ATM operations.
Australia’s Securities and Investments Commission (ASIC) recently made headlines by filing a lawsuit against the Australia Securities Exchange (ASX) Ltd. The lawsuit alleges that ASX made misleading statements about its blockchain trade settlement project. According to ASIC’s statement, ASX falsely claimed in February 2022 that the project was “on track” for an April 2023 launch
Crypto exchange Binance recently faced a significant setback in Brazil, agreeing to pay a hefty fine of $1.76 million to settle allegations of unlicensed derivatives trading in the country. The settlement with the Comissão de Valores Mobiliários (CVM), Brazil’s securities regulator, comes after a year-long investigation into Binance’s activities in the country. This regulatory crackdown
The co-founder of Gemini, Tyler Winklevoss, did not hold back in his recent post where he called the “reset” of Vice President Kamala Harris’ crypto stance a “scam.” This comes on the heels of the Federal Reserve’s crackdown and a roundtable discussion that Harris failed to attend on August 8th. Winklevoss took aim at the
The recent regulatory action taken by the US Federal Reserve against Customers Bank has raised concerns within the crypto community. The Fed’s move comes after allegations that the bank violated several financial regulations, including the Bank Secrecy Act and Anti-Money Laundering laws, due to its involvement with digital assets. Operation Chokepoint 2.0 Resurfaces Tyler Winklevoss
Recently, OKX CEO Star Xu issued a warning to users about the potential risks associated with interacting with the sanctioned crypto mixer Tornado Cash. He highlighted that deposits from sanctioned entities, such as Garantex and Tornado Cash, or withdrawals to these entities could pose compliance risks and result in account suspension. Xu emphasized that OKX
In a recent discussion, Joey Garcia, the Director and Head of Regulatory Affairs and Public Relations at Xapo Bank, shared his experiences and thoughts on the evolution of digital asset regulation. Collaborating with CryptoSlate Senior Analyst James Van Straten, Garcia shed light on the hurdles and achievements encountered while shaping regulatory frameworks for digital assets.
Zoomex, an innovative crypto exchange platform, has made a name for itself by prioritizing user privacy and anonymity. Unlike many other exchanges that require extensive Know Your Customer (KYC) verification processes, Zoomex does not mandate KYC. This policy ensures that users can trade confidently, knowing their personal data remains private and secure. This emphasis on
Coinbase, a prominent crypto company, faced a setback when the UK’s Financial Conduct Authority (FCA) imposed a hefty fine of £3.5 million for Anti-Money Laundering breaches. This fine was a result of CB Payments Limited (CBPL), a Coinbase Group subsidiary, repeatedly violating the FCA’s guidelines. Despite an initial fine of £5 million, CBPL managed to