Crypto exchanges Financial News

The OKX API has recently been plagued by a technical glitch that has left users in Singapore, Japan, and the United States with incorrect account balances.

Argentina’s top financial regulator says crypto exchanges must apply for operating permits, in a move that will apply to both “individuals and legal entities.”

The Hong Kong Securities and Futures Commission (SFC) has identified seven unauthorized cryptocurrency exchanges and placed them on its Alert list for conducting unauthorized activities in the region without obtaining the required licenses.

An Australian man received a two-year prison sentence for cyber-enabled identity fraud, involving the creation of online cryptocurrency accounts using counterfeit documents.

Binance, the world's largest cryptocurrency exchange, has registered with India's Financial Intelligence Unit (FIU), a senior FIU official said on Friday, as the exchange seeks to resume operations in the country. The exchange was barred from operating in India in December for non-compliance with local regulations as part of the financial watchdog's crackdown on offshore crypto exchanges that were operating in the country without registration.

Tradu, a trading platform owned by Jefferies’ Stratos Group, went live with a new crypto exchange aimed at active traders on Wednesday.

If you've been hesitant to jump in, you're not alone – but the longer you wait, the more you might be missing out. Fortunately, a range of intuitive apps now simplify cryptocurrency investing. We'll assess a selection of top cryptocurrency apps in India, breaking down the key criteria that a novice investor should consider.

Nigeria’s Securities and Exchange Commission (SEC) amended the regulatory framework governing platforms offering cryptocurrency services on Friday, suggesting increased registration fees for crypto exchanges.

South Africa’s regulator Financial Sector Conduct Authority (FSCA) has approved 59 operating licenses for cryptocurrency exchanges, according to a Reuters report citing an official from the regulatory body.

South Korea plans to conduct virtual asset exchange inspections to expel ineligible platforms later this year.

The combined trading volume of the top 10 crypto exchanges in 2023 reached a staggering $34.26 trillion, a 16% decline from the previous year, cryptocurrency rating and research firm TokenInsight revealed in a report today.

cryptocurrency exchanges and virtual digital asset service providers such as Binance, Kucoin, OKX, and others, were blocked in India on Friday. This comes after the government sent show-cause notices to these crypto exchanges for not complying with the country's money laundering laws. Earlier, on December 28 last year, show cause notices were sent to Binance, Kucoin, Bittrex, Bitstamp, MEXC Global, Houbi, Kraken, gate.io and Bitfinex for operating illegally in India. The notice was issued because these companies failed to comply with registration and local tax rules. As a result, the Finance Ministry directed the Ministry of Information Technology to block their URLs. On the development, Edul Patel, CEO of Mudrex, said, «In response to the FIU’s show cause notices to non-compliant crypto exchanges, we took proactive steps, advising investors to transfer their funds to compliant platforms. We are also providing dedicated support to ensure seamless fund transfers from other exchanges, upholding the highest safety and compliance standards.» «Indian investors should always aim to have their assets in the FIU compliant entities as it gives them a way for legal recourse against any fraudulent activity on their account,» Edul suggested.

Apple has removed the world’s biggest cryptocurrency exchange Binance from its App Store after a show-cause notice was sent to nine such virtual digital asset (VDAs) service providers by the Finance Ministry for not complying with the country's money laundering laws. The company has also removed other apps like Kucoin, and OKX. The Financial Intelligence Unit, under the Finance Ministry, had last month issued show-cause notices to nine offshore VDA service providers, including Binance, for operating in the country without complying with money laundering laws. Last month, the Finance Ministry had also asked the IT Ministry to block the URLs of these crypto firms as they have been operating illegally in the country. Binance is already facing investigation in the US after being convicted of breaking anti-money laundering laws. Also Read | Bitcoin falls below $46,000 amid false ETF approval announcement

Financial Intelligence Unit (FIU) to nine offshore virtual digital asset service providers, including Binance, Bitfinex, MEXC Global, and Kraken, for non-compliance under the Prevention of Money Laundering Act (PMLA) likely holds more significance than it might initially seem. It could have implications for anyone holding crypto assets. It is akin to a ‘demonetisation moment’ for the local crypto exchanges who had committed to abide by the country’s laws which the authorities have been pressing for quite some time. The crypto assets held by these non-FIU compliant exchanges are likely to witness a shift towards exchanges that adhere to FIU compliance.

The Financial Monitoring Agency (FMA) blocked 980 digital asset exchanges for offering trading services to users in Kazakhstan without the required regulatory nod.

Cryptocurrency exchanges have transformed over the years, evolving from basic exchange services to comprehensive financial ecosystems. This evolution reflects a growing demand for platforms that offer more than just transaction capabilities. Today’s traders seek environments that provide enhanced security, user-friendly interfaces, and a range of financial tools. These platforms are increasingly integrating educational resources and community features to support informed trading decisions.

Enforcement Directorate (ED), the income tax department, and the Central Bureau of Investigation (CBI) with vital data on crypto assets. The objective is to monitor and curb the use of cryptocurrencies in illegal activities like crime and money laundering. The goal is to augment the regulatory framework surrounding the digital asset market, which has often been likened to the Wild West due to its lack of oversight. The envisaged database will serve as a repository of critical information on crypto exchanges, aiding regulators in monitoring and ensuring compliance within the crypto sphere. The Genesis of the Database The goal of this ambitious project is to construct a centralized system capable of monitoring various elements of crypto transactions. The database will not limit itself to recording activity within India alone. Instead, it intends to include a raft of information from major international exchanges, such as Binance, Bybit, and Kucoin. By doing so, it will offer governments worldwide a panoramic view into the often opaque world of crypto asset transactions. Detailed Oversight

Centralized exchanges witnessed a significant decline in trading volume in September, marking the third consecutive month of decreasing activity. 

India is planning to introduce a comprehensive global database of cryptocurrency exchanges to help law enforcement agencies combat crypto-related crimes. 

Taiwan’s crypto community is coming forward to establish a working group in mid-October to “effectively integrate” digital currency adoption and self-compliance, in a move to “establish an effective and smooth communication channel with the government.”

Cryptocurrency derivatives exchange Bitget announced revised Know Your Customer (KYC) requirements to ensure compliance with global regulatory standards.