Crypto Exchange Financial News

Kraken, a prominent cryptocurrency exchange, has recently introduced a new requirement for its users in the United Kingdom.

CoinDesk’s CEO Kevin Worth has stepped down as part of a major restructuring effort led by the crypto exchange Bullish, which recently acquired the media outlet.

Binance Thailand has opened its cryptocurrency exchange in Thailand for trading, the company said on Tuesday.

OKX, one of the world's largest cryptocurrency exchanges, has been granted a regulatory licence in Dubai that will allow it to offer crypto services to retail clients, the company said on Tuesday. Dubai's Virtual Assets Regulatory Authority (VARA) has awarded OKX Middle East a Virtual Asset Service Provider (VASP) licence for exchange services. When operational, it will enable OKX to provide spot services and spot-pairs services to qualified retail clients, as well as institutional customers. The United Arab Emirates is pushing to become a global hub for the crypto industry. VARA was formed in March 2022 to regulate the emerging virtual asset sector in Dubai. «We are looking at this as a game changer because we are able now to target both retail and institutional clients in the UAE and allow them to deposit and withdraw in their local currency,» Rifad Mahasneh, OKX General Manager for the MENA region, told Reuters.

In a recent funding round, HashKey Group, the operator of one of Hong Kong’s two licensed crypto exchanges, successfully raised close to $100 million with a valuation of over $1.2 billion.

Indian crypto exchange BuyUcoin has announced that it will now reimburse the entire withdrawal fees for local users transferring their assets from offshore exchanges amid ongoing crackdown.

A South Korean lawmaker has claimed that the nation’s leading crypto exchanges are “neglecting their responsibilities to protect investors.”

The South Korean crypto exchange Bithumb says it wants to find the “dormant” owners of $206 million worth of coins, including Bitcoin (BTC), Ethereum (ETH), and XRP.

Canadian cryptocurrency exchange Catalyx has temporarily suspended trading and withdrawals on its platform after discovering a security breach that it suspects may involve one of its employees.

The South Korean city of Busan is edging closer to the launch of a long-awaited blockchain-powered digital assets trading platform, and has named a preferred bidder.

A “tectonic rift” is threatening to separate the South Korean crypto exchange Upbit from its rivals, as tensions begin to fray between domestic platforms.

The Philippine Securities and Exchange Commission (SEC) has clarified the issues raised over the former advisory to the effect that any unregistered platform will be banned after three months. 

South Korea’s five biggest crypto exchanges will team up with financial regulators to search for “undeclared crypto operators.”

Russia’s Central Bank says there has been a drop in the number of citizens trading crypto – with citizens staying away from major overseas trading platforms.

Coinbase has revealed a significant increase in law enforcement requests over the past years in its latest transparency report.

Dunamu, the South Korean operator of the Upbit crypto exchange, has seen year-on-year profits fall by a staggering 82% in the third quarter of FY2023.

Dutch-based cryptocurrency exchange Bitvavo has received regulatory green light in France to act as a digital asset service provider.

crypto exchange Binance over the past 24 hours, market data showed, after its chief, Changpeng Zhao, stepped down and faced prison time after pleading guilty on Tuesday to settle a years-long U.S. illicit finance probe. The deal, in which Binance will pay $4.3 billion to U.S. authorities, raises questions over the future of the world's largest crypto exchange and marks another blow for an industry beset by scandals. Zhao has been replaced by Richard Teng, a senior Binance executive who joined in 2021, the company said. It remained unclear on Wednesday how much jail time, if any, Zhao would ultimately serve, and how much influence he — as Binance's founder and major shareholder — could continue to exert on Binance under the terms of the settlement. Some analysts also noted that the deal was unlikely to end the exchange's U.S. legal woes, with Securities and Exchange Commission charges alleging Binance broke U.S. securities laws still unresolved.

One of Russia’s biggest banks says international crypto exchanges such as OKX, Bybit, and Bitstamp are “cooperating with Russian arbitration managers” in bankruptcy investigations.

Another international crypto exchange wants to gain a foothold in the elusive South Korean market, with a platform named Bitbest planning to launch in 2024.

The US Department of Justice (DoJ) is seeking a settlement of more than $4 billion from the world’s largest crypto exchange Binance as a proposed resolution to a yearlong investigation into the exchange, Bloomberg reported on Monday citing people familiar with discussions.