Cryptocurrency Exchanges

All but four platforms in South Korea obligated to announce the suspension of their services by today.

Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.

Under scrutiny around the world, the largest cryptocurrency exchange wants to do a better job engaging with regulators.

Mid-sized crypto exchange Foblgate announced the closure of its Korean won (KRW) trading functions in advance of a government mandate banning digital asset platforms from operating cash-to-crypto services without a local bank partnership. Fast facts Foblgate announced it is temporarily suspending its KRW withdrawal, deposit and trading market between cryptocurrencies and the Korean won. Instead, […]

Financial authorities reveal an updated list of virtual asset platforms that have complied with new regulations.

Broctagon Fintech Group is launching what it hopes will become a new global standard for cryptocurrency exchanges to reduce price discrepancies. Will it work?

The platform reports more users than WazirX and CoinDCX, and aims to make crypto trading as easy as ordering food online.

Football giant Paris Saint-Germain (PSG) today announced a multi-year partnership agreement with Hong Kong-based cryptocurrency exchange Crypto.com that will see the exchange become the Parisian club’s official cryptocurrency platform partner. Fast facts PSG competes in Ligue 1, the top division of French football, and its star-studded team includes forwards Lionel Messi, Kylian Mbappé and Neymar. […]

At the risk of losing billions, crypto industry officials weigh options to oppose authorities.

Korea crypto damage assessed meanwhile Initium’s news based NFTs sell out

Smaller virtual asset exchanges ask for mercy as a deadline looms to commit to Korea’s new standards.

Only 21 out of 60 exchanges are expected to continue their services in Korea.

Korean exchanges offered lifeline while NFL bans crypto sponsorships

The American football league’s 32 teams cannot sell NFTs or accept backing from crypto trading firms — at least for now.

Deadline looms for Korean exchanges as Doge meme valuation explodes

Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.

India crypto exchanges allow bank deposits while FTT token on a roll

The founder of the now-defunct crypto exchange BitConnect is being sued for a US$2 billion “textbook Ponzi scheme” by the U.S. Securities and Exchange Commission, according to a Reuters report. Fast facts The SEC alleges BitConnect’s founder Satish Kumbhani, an Indian citizen, lied about the exchange’s ability to earn 40% returns on investments of BitConnect’s […]

FTX’s exchange token — FTT — has reached a new all-time high following the exchange’s acquisition of crypto derivatives platform LedgerX earlier this week. Fast facts The token hit US$66.33 this morning, according to CoinMarketCap, breaking its previous high of US$61.28, which it set back on May 11, right before the market-wide crash. FTT had […]

FTX US, the affiliate of Hong Kong-based crypto derivatives exchange FTX, on Tuesday announced that it was acquiring Ledger Holdings Inc., parent company of LedgerX, a digital currency futures and options exchange regulated by the Commodity Futures Trading Commission (CFTC). Fast facts LedgerX is a CFTC-regulated designated contract market (DCM), swap execution facility (SEF) and […]

Zipmex, a Singapore-based cryptocurrency exchange, has completed a US$41 million Series B funding round as it innovates toward a “full 360 digital banking offering,” the company said during a media briefing today. Fast facts Investors in Zipmex’s Series B funding round indicate increasing institutional buy-in to the digital assets industry. The investors include Krungsri Finnovate, […]

Hong Kong’s Securities and Futures Commission on Monday warned that digital tokens and initial coin offerings (ICOs) could be involved in unauthorized collective investment schemes (CIS) and urged investors to exercise extreme caution. Fast facts The SFC’s warning comes as the regulator added two property-related CIS investment projects and the “LABS Security Token” to its […]

Korea’s love for crypto continues while Crypto exchange Bilaxy hacked

Amid the immense growth in the non-fungible token market, leading Singapore-based crypto exchange AAX is planning to launch its own NFT marketplace in the “near future,” according to a press release shared with Forkast.News. Fast facts In preparation for the launch, AAX is running a campaign in which its users can auction NFTs for charity […]

Korea reveals crypto exchange ‘Death Note’: DeFi investment booms

Upbit submits compliance report: China’s e-CNY trials broaden

ADDX, a digital securities exchange headquartered in Singapore formerly known iSTOX, has partnered with Investcorp, a Bahrain-based alternative investment management firm to offer a tokenized real estate fund focused on residential properties in the United States, ADDX announced on Thursday. Fast facts Investcorp raised US$150 million for the fund that has invested in five multi-family […]

The Ontario Securities Commission (OSC) is seeking to bring an enforcement action against Aux Cayes Fintech Co. Ltd., which operates the OKEx platform, for allegedly violating Ontario securities law, according to a statement. Fast facts According to the statement of allegations filed by the OSC’s enforcement team on Aug. 18, Seychelles-incorporated Aux Cayes — which […]

Crypto traders who suffered losses on Binance due to tech outages are turning to arbitration and crypto litigation finance.

Bybit, a cryptocurrency exchange based in Singapore, announced today a multi-year partnership with popular esports team NAVI (“Natus Vincere”), which will display Bybit’s logo on NAVI’s jerseys as well as charity initiatives, school projects, and anti-hate and anti-bullying campaigns. Fast facts “The Covid-19 pandemic has changed many established conventions in a number of human experiences,” […]

Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Greg Monahan, a former U.S. Treasury criminal investigator, as its global anti-money laundering officer, according to a company statement. Fast facts Monahan’s appointment comes as Binance seeks to bolster its compliance efforts amid increasing scrutiny from regulators around the world — […]

Crypto exchanges, or VASPs, are coming under increasing regulation. Complying with the Financial Action Task Force’s travel rule will be one of them.

Tier II and Tier III cities in India registered massive growth in new user signups on WazirX, more than the larger cities.

DBS Vickers, the brokerage arm of Singapore’s DBS Bank, today announced that it has received in-principle approval from the Monetary Authority of Singapore to provide digital payment token services in Singapore as a major payment institution under the Payment Services Act. Fast facts DBS Vickers’ notification follows that of Australian cryptocurrency exchange Independent Reserve, reported […]

After nearly a year under investigation, crypto exchange and derivatives trading platform Bitmex has agreed to pay as much as US$100 million to settle charges brought by the U.S. Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, according to a company blog post. Fast facts Alex Höptner, BitMEX’s CEO, told Forkast.News in a […]

CoinDCX, an Indian cryptocurrency exchange, has become the country’s first crypto unicorn with a US$90 million Series C fundraise, the company announced today. The funding was led by Facebook co-founder Eduardo Saverin’s B Capital. The fresh funding pegs CoinDCX’s valuation at US$ 1.1 billion. Fast facts Founded in 2018, CoinDCX offers a range of crypto […]

Unocoin offers bitcoin vouchers as Alonzo upgrade onboards users

Singapore-headquartered cryptocurrency exchange Zipmex has announced that it has struck a cooperation agreement with Visa. Fast facts The exchange’s payment network, ZipSend, will be integrated into Visa’s global merchant network. Visa will also cooperate with another 50 cryptocurrency platforms. Zipmex plans to launch Visa-branded payment cards later this year. In July, Visa said that its […]

Singapore and Hong Kong are at the forefront of regulations over crypto exchanges, writes Vince Turcotte of Eventus Systems. Here’s why trade surveillance and risk management will be critical.

As more crypto companies go public, some are returning to a decentralized business model. ShapeShift CEO Erik Voorhees explains the ethos and reasons why.

Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it will be restricting the use of its derivatives products for customers from Hong Kong. Fast facts Hong Kong customers will, with immediate effect, not be able to open new Binance deriviative product accounts, according to a Binance announcement posted at […]

Australian cryptocurrency exchange Independent Reserve said Monday that it had received an “in-principle approval” for a Major Payment Institution License in Singapore to operate as a regulated digital payment token (DPT) service provider, according to a company statement. Fast facts Founded in Australia in 2013, Independent Reserve set up its first overseas operations in Singapore […]

A provision in an infrastructure bill being debated by the U.S. Senate has prompted concerns in the crypto industry as it boosts Internal Revenue Service reporting requirements for investors and brokers. Fast facts According to the New York Times, the provision is an effort to help fund a US$ 1 trillion bipartisan bill and could […]

Speaking to Parliament, India’s finance minister reveals that the government does not know how many crypto exchanges India has nor the number of crypto users.

The fee-free trading platform’s initial public offering promises plenty of action for retail investors, but pitfalls may lie in wait amid trading volatility and wider adoption of business model.

Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.

Closure of center comes despite — or perhaps because of — professional pedigree of crypto exchange founder board members.

Facing an onslaught of regulatory scrutiny, Binance CEO calls crypto regulations ‘positive sign’ of a maturing industry and announces new hires in compliance.

Crypto exchange Huobi yesterday issued an announcement in simplified Chinese saying that it would implement a “T+1” withdrawal freezing time for all over-the-counter trades, meaning that traders can transfer cryptocurrency out only 24 hours after depositing it. In some cases, the freeze will last up to 36 hours.  Fast facts At present, the announcement appears […]

Formula 1 has announced that Hong Kong-based Crypto.com will be an inaugural global partner for the new F1 Sprint series in 2021.

Taiwan is set to enact new anti-money laundering rules that take effect July 1 to further boost AML requirements for crypto exchanges.

Bithumb — South Korea’s second-largest crypto exchange — has rubbished claims that it is charging token issuers fees to list their coins on its platform.

Nasdaq-listed Coinbase, the largest cryptocurrency exchange in the United States, announced today its plans to expand its business internationally as it seeks to improve its asset-listing process and build a crypto app store. Fast facts: “We’re seeing crypto quickly mature from its initial use case of trading bitcoin to the trading of thousands of new […]

Cryptocurrency exchange FTX today announced that American football star Tom Brady and his wife, Gisele Bündchen, are taking equity stakes in it, in a multi-year partnership.

Singapore cryptocurrency exchange Coinhako today announced a 500% increase in trading volume during the first five months of 2021 compared to the whole of 2020.

Four executive employees of South Korean crypto exchange V Global have been arrested on charges of alleged fraud involving more than US$1.9 billion.

Chinese cryptocurrency exchange Huobi has stopped providing crypto derivative trading services to users in China and Taiwan.

FCA says Binance is not permitted to offer regulated activities in the UK, but users of the world’s largest crypto exchange remain unaffected — for now.

Payment for listings raises questions over integrity of cryptocurrencies’ credit scores as compliance deadline nears.

South Korean crypto exchange Upbit — the country’s biggest — is facing a lawsuit filed by a university foundation alleging patent infringement.

South Korean cryptocurrency exchange Upbit is preparing legal action against crypto coin issuer Pica Project, whose tokens it has delisted from its platform.

South Korean lenders have started money laundering risk assessments of the country’s “big four” cryptocurrency exchanges, with which they have contracts to provide real-name accounts.

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.

Singapore-based decentralized exchange SynFutures has closed a $14 million series A round to bring crypto derivatives to new users around the world.

South Korea’s Financial Services Commission today revealed plans to ban cryptocurrency exchanges in the country from listing their own coins.

SynFutures, a Singapore-based decentralized derivatives exchange, today announced the closure of a US$14 million series series-A funding round led by Polychain Capital.

Nasdaq-listed Diginex, a Singapore-based digital asset financial services company, today announced a rebranding of its businesses, including the EQUOS cryptocurrency exchange, as EQONEX.

Fifty South Korean crypto exchanges have applied for certification under the country’s Information Security Management System — the first step in meeting stringent new crypto exchange regulations.

Thailand’s securities regulator has announced new rules for cryptocurrency exchanges in the country, including a ban on utility tokens and meme tokens.

Huobi Group has announced the launch of a Blockchain Assets Center to provide a standardized, streamlined process for projects seeking to list on its cryptocurrency exchange, Huobi Global.

Despite regulatory uncertainty over cryptocurrency trading in India, some of the world’s largest crypto exchanges are looking to enter the market.

South Korea’s main finance sector regulator has launched an investigation of accounts operated by crypto exchanges under false or third-party names.