In a decisive move to tackle the rampant illegal cryptocurrency activities, Kazakhstan has ramped up its efforts in 2024 to close down unregulated crypto exchanges closely linked to money laundering. This initiative, spearheaded by the Financial Monitoring Agency (AFM), has led to the shutdown of 36 unauthorized exchanges, which collectively managed transactions exceeding $100 million.
Exchanges
The cryptocurrency market is undergoing significant transformations, particularly with the introduction of exchange-traded funds (ETFs) that cater to digital assets. A recent filing by Nasdaq to increase the options contract limit for the iShares Bitcoin Trust ETF (IBIT) has captured the attention of investors and analysts alike. The proposal aims to elevate the current cap
In a bold and highly strategic maneuver, Backpack Exchange, a crypto platform spearheaded by former executives of the now-defunct FTX, has made a significant inroad into the European market by acquiring FTX EU, the European branch of its predecessor. This acquisition has gained the green light from both the FTX bankruptcy court and the Cyprus
Recent revelations from Coinbase’s Chief Legal Officer, Paul Grewal, have thrown light on an ongoing struggle within the U.S. regulatory framework concerning cryptocurrency. On December 6, 2024, Grewal disclosed documents that indicated the Federal Deposit Insurance Corporation (FDIC) had encouraged banks to either pause or divert from offering any services related to cryptocurrencies, including basic
In a bold move signaling its ambition to become a multifaceted financial services provider, Crypto.com has announced the introduction of stock and exchange-traded fund (ETF) trading on its platform aimed specifically at the United States market. This development marked a significant expansion of the company’s offerings, now allowing users to manage their investments seamlessly across
On December 31, 2023, Celsius Network escalated its legal struggle by filing a notice of appeal regarding a decision made by Judge John Dorsey. This pivotal case centers around Celsius’ bankruptcy proceedings and its disputed $2 billion disparagement claim against the now-defunct cryptocurrency exchange, FTX. The District Court is set to review legacies of disputes
Bybit, established in 2017, has carved out a notable position in the global cryptocurrency exchange arena, handling a volume exceeding $16 billion in assets. However, its expansion has not come without complications, particularly evident in Malaysia, where the Securities Commission (SC) has ordered the cessation of the exchange’s operations. This pivotal decision was influenced by
In a significant move towards simplifying blockchain interactions, Bitget Wallet is set to implement its novel GetGas feature starting January 2025. The platform plans to prioritize its native BGB token for multi-chain gas payments, which is expected to bring substantial efficiency to transactions spanning various networks, including Ethereum, Solana, BNB Chain, Polygon, Base, Arbitrum, Optimism,
Sam Bankman-Fried, once a prominent figure in the cryptocurrency world as the founder of the FTX exchange, has recently encountered a significant setback in his legal battle. The U.S. authorities have firmly rejected his appeal to overturn his conviction and subsequent sentencing linked to the dramatic collapse of FTX. In a recent court filing, the
Indian cryptocurrency exchange WazirX finds itself entangled in a web of legal complications following a Delhi High Court directive for a renewed investigation into its operations. This legal scrutiny emerged on December 18 – the same day Binance announced its decision to delist WazirX’s native token, WRX. The court’s order is largely a response to
