The rapid evolution of the cryptocurrency market across the globe presents an intriguing case study, particularly when examining the United Arab Emirates (UAE). Unlike many other countries where crypto adoption tends to fluctuate according to transaction size, the UAE has emerged as a remarkable anomaly. A recent Chainalysis report reveals that the UAE has successfully
Exchanges
In a bold move signaling its intent to capture a portion of the burgeoning cryptocurrency market, BNY Mellon has taken significant strides toward establishing itself in the crypto custody space. Following the recent exemption granted by the SEC from Staff Accounting Bulletin 121 (SAB 121), the banking giant is set to redefine its approach to
In a significant strategic move, Kraken has officially acquired Coin Meester (BCM), a well-established cryptocurrency broker in the Netherlands, as announced in a statement on September 24. This acquisition is not just a tactical business maneuver; it reflects Kraken’s ambition to solidify its foothold in the burgeoning Dutch cryptocurrency market. Coin Meester’s long-standing presence in
On September 20, 2023, the cryptocurrency exchange BingX made headlines after confirming a “minor asset loss” attributed to suspicious activity in one of its hot wallets. The Chief Product Officer, Vivien Lin, noted that the event occurred around 4:00 A.M. Singapore time and that the exact loss was still being determined. Initial estimates from blockchain
The legal feud between the U.S. Securities and Exchange Commission (SEC) and major cryptocurrency exchange Coinbase has captured considerable attention since it commenced in June 2023. The SEC’s allegations claim that Coinbase has been operating as an unregistered securities broker, offering digital assets that the agency deems to be unregistered securities in violation of U.S.
The American digital asset market is at a pivotal juncture, characterized by uncertainty and tension stemming from regulatory practices. Recently, Robinhood’s Chief Legal Officer, Daniel Gallagher, publicly criticized the U.S. Securities and Exchange Commission (SEC) for what he termed a “scorched earth” approach to crypto regulation, which has fostered a climate of confusion rather than
In a significant development in the cryptocurrency sector, Binance, the world’s largest exchange, has decided to publicly distance itself from WazirX, an Indian cryptocurrency exchange facing critical challenges. This undeniable schism comes in the wake of a $235 million hack that left many users reeling from financial losses. As the events unfold, it is essential
In the ever-evolving landscape of cryptocurrency, the intricacies of market dynamics are often laced with misunderstandings and sensationalism. Recently, allegations aimed at Coinbase, a leading cryptocurrency exchange, prompted discussions among investors, analysts, and forum-goers alike. These allegations suggested that Coinbase was misusing BlackRock’s funds, casting doubt on the integrity of the recently proposed IBIT ETF.
The legal saga surrounding Ryan Salame, a former executive of the beleaguered cryptocurrency exchange FTX, continues to unfold with serious implications following his admissions in court. Salame, who previously pleaded guilty to campaign finance and money-transmitting crimes, is now facing the possibility of harsh legal repercussions after revealing inconsistencies in his testimony during a hearing
In recent news, Binance announced that its subsidiary, Tokocrypto, has obtained a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti). This achievement makes Tokocrypto the third exchange in Indonesia to receive such a license, highlighting the company’s commitment to regulatory compliance and growth in the crypto market. The CEO