In 2024, Kazakhstan has taken significant strides to curtail unauthorized cryptocurrency exchanges amidst rising concerns about their association with financial crimes. Central to this initiative is the Financial Monitoring Agency (AFM), which recently reported the closure of 36 unregulated platforms that processed a staggering $100 million in transactions. The AFM’s decisive actions underscore a strategic
Exchanges
In a significant move to diversify its financial services, Crypto.com has officially begun offering stock and exchange-traded fund (ETF) trading within its platform in the United States. Announced on January 3, this expansion is poised to transform the way users interact with both traditional and digital assets. By allowing users to manage their stock and
The intersection of cryptocurrency and traditional banking has been a focal point of concern for regulators, particularly in the United States. Recent developments involving Coinbase’s chief legal officer, Paul Grewal, have brought to light documents that suggest a deliberate strategy by the Federal Deposit Insurance Corporation (FDIC) to urge banks to limit or avoid engaging
On December 16, FTX and its associated debtors set a significant date: January 3, 2025, when their reorganization plan will officially commence. Following this date, creditors can expect distributions to begin within a two-month window. This development marks a pivotal moment for FTX, a company that faced an unprecedented collapse in November 2022 due to
The turbulent landscape of the cryptocurrency sector continues to witness intense legal confrontations, with Celsius Network recently stepping into the arena once more. On December 31, 2022, the firm filed an appeal against a decision made by Judge John Dorsey, which dismissed its significant $2 billion claim for disparagement against the now-defunct crypto exchange, FTX.
In a significant development within the cryptocurrency sector, Binance, the world’s leading cryptocurrency exchange by trading volume, has attained a crucial regulatory endorsement from Brazil’s Central Bank to acquire Sim;paul, a licensed broker-dealer. This approval, announced on January 2, marks a historic moment, as Binance becomes the first crypto exchange in Brazil to hold such
The Malaysian Securities Commission (SC) has recently taken decisive action against the cryptocurrency exchange, Bybit, and its CEO, Ben Zhou, mandating that all operations cease immediately within the country. This enforcement highlights the increasing scrutiny that cryptocurrency platforms are facing globally. Bybit’s inability to obtain authorization as a digital asset exchange (DAX) under Malaysian regulations
In a significant advancement set to reshape the dynamics of decentralized finance (DeFi), Bitget Wallet is taking bold steps to enhance user experiences through its forthcoming GetGas feature. According to a recent announcement on December 27, the wallet will allow users to utilize its native BGB token for gas payments across multiple blockchain networks starting
The downfall of FTX, once a prominent cryptocurrency exchange, has been a significant event in financial history. At the center of this controversy is Sam Bankman-Fried, the exchange’s founder, who has recently faced the harsh repercussions of his leadership during the company’s collapse. His conviction and sentencing have been the subject of intense scrutiny and
WazirX, one of India’s leading cryptocurrency exchanges, is currently navigating turbulent waters following a recent mandate from the Delhi High Court. On December 18, the court ordered an extensive re-investigation into the exchange amidst allegations of a significant security breach that occurred in July 2024, leading to the loss of a staggering $235 million. This