Recently, crypto exchange OKX made the decision to select Malta as its Market in Crypto-Assets (MiCA) hub to cater to the 450 million residents of the European Union. By establishing itself in Malta, OKX aims to provide services that are fully compliant with local regulations, while also ensuring seamless deposit and withdrawal connectivity to local
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Recently, crypto exchange OKX has made the decision to cease operations in Nigeria due to local regulations. Nigerian clients were informed through an email that they have until August 16 to close their positions on the platform. After this deadline, users will only be able to access withdrawal services and close existing positions. This announcement
Hong Kong’s financial regulators have recently completed a consultation period regarding the licensing program for fiat-referenced stablecoin (FRS) providers. This initiative has garnered significant attention from various stakeholders in the financial industry. The Monetary Authority (HKMA) and the Financial Services and Treasury Bureau (FSTB) received 108 submissions during the consultation period. The majority of respondents
CTO and chairman Elon Musk recently made headlines by accusing the European Commission (EC) of offering an “illegal secret deal” to social media platform X. Musk claimed that this deal involved the censorship of speech in exchange for avoiding fines in the EU. These allegations were made in response to the EC publishing preliminary findings
In a recent hearing, Judge Katherine Polk Failla criticized Coinbase’s attempts to subpoena SEC chair Gary Gensler in the ongoing case against the firm. She expressed concerns over the company’s request for Gensler’s statements prior to becoming SEC chair in 2021, calling Coinbase’s arguments “speculative” and not persuasive. Coinbase’s lawyer defended the company’s request by
The recent attempt by the US House of Representatives to overturn President Joe Biden’s veto and rescind SEC Staff Accounting Bulletin (SAB) 121 has ended in a failure. The numbers were close, with 228 House members voting in favor of HJ Res. 109 to end SAB 121, 184 against, and 21 abstaining. Although this represents
Recently, the US Securities and Exchange Commission (SEC) concluded its investigation into stablecoin issuer Paxos. Paxos announced on July 11 that it received a termination notice from the SEC on July 9. The notice confirmed that the regulator would not take any enforcement action against Paxos Trust Company regarding the Binance USD (BUSD) stablecoin. Over
Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria (CBN), recently made serious allegations against Binance, a popular cryptocurrency exchange platform. Akinwumi accused Binance of engaging in transactions that are typically reserved for authorized banks and financial institutions. These accusations were part of his testimony in a lawsuit brought by the Economic and
Taiwan Mobile, the second-largest telecom operator in Taiwan, has recently made a significant move by applying for a license to operate as a Virtual Asset Service Provider (VASP). This decision has placed them as the 26th VASP in Taiwan, highlighting their compliance with Money Laundering Prevention Laws. With Lin Zhichen, the company’s General Manager, named
The European Banking Authority (EBA) recently announced updates to its Travel Rule guidelines, now including crypto service providers and intermediaries. This change, set to take effect on December 30, 2024, will require crypto exchanges in the European Union to adhere to the Travel Rule guidelines (EU-2023/1113). The new rule mandates that exchanges report information on