Tag Archives: Exchange News

If the new regime takes effect, the SFC will collaborate with the C&ED to oversee OTC services in Hong Kong. Financial hub Hong Kong looks to introduce a new regime for over-the-counter (OTC) virtual asset trading services as the Securities and Futures Commission (SFC) conversed with multiple ‘industry participants.’ Should the jurisdiction proceed in that direction, the SFC will work with the Customs and Excise Department (C&ED) to better regulate the crypto industry. A proposal...

Upbit, South Korea’s largest cryptocurrency exchange, has announced the launch of Nervos Network (CKB) on its platform. Starting today at 16:00, users will be able to trade Nervos in the KRW, BTC, and USDT markets. This new listing enables the trading of CKB with three primary pairs, which will improve the token’s flexibility and market depth. The deposit for Nervos Network (CKB) will start another 3 hours after the announcement, while the transactions will begin at 17:00 on September 13. It...

Indodax, a leading cryptocurrency exchange based in Indonesia, has been hit by a significant security breach, leading to losses estimated at approximately $15.7 million. PeckShield, a cybersecurity firm, first identified the exploit that saw significant cryptocurrency movements from Indodax’s wallets. The breach affected roughly $15.7 million in digital assets, including large quantities of Ethereum and other tokens. Another security firm, Cyvers Alerts, confirmed the suspicious activity. It...

MOEX departs from Russia’s crypto pilot and focuses on other digital ventures. Russia promotes the digital ruble and proposes additional cryptocurrency exchanges to increase trading. The Moscow Exchange (MOEX), Russia’s largest financial exchange, has decided not to take part in a new pilot program for cryptocurrency trading, despite recent legislation allowing digital currencies to be regulated by the central bank. Nikolai Trunichkin, MOEX’s head of digital projects, confirmed the decision,...

South Korean Financial Supervisory Service (FSS) announced on Tuesday that it will start inspecting cryptocurrency exchanges to uncover illegal or unfair practices. This is the first inspection since the new Virtual Asset Users Protection Act came into effect in July. It looks for signs of money laundering and checks if new rules designed to safeguard virtual assets and record transactions are being complied with by the exchanges. According to the FSS, they plan to: “Maintain market order by...

Binance Kazakhstan has received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license. This is a significant step towards achieving a fully regulated Digital Asset Trading Facility (DATF) status, the first of its kind in Kazakhstan. This was after a rigorous and step-by-step assessment that involved financial audits, ISO certifications, and internal and external assessments. It should be noted that the AFSA, the regulator of financial and...

Mark Karpeles, the former CEO of Mt. Gox, is set to launch a new cryptocurrency exchange, EllipX, later this month. Announced during an interview at the Korea Blockchain Week in Seoul, the platform will debut in Europe, with its base in Poland. Karpeles will act as EllipX’s chief technology officer. He emphasized that the exchange will prioritize transparency and user-friendliness. EllipX can differentiate itself within the market by offering operation clarity. As mentioned earlier, Karpeles...

The recent hack of the cryptocurrency exchange WazirX has witnessed a significant development. The hackers have transferred 2,600 ETH, worth approximately $6.5 million, to Tornado Cash, a cryptocurrency mixer that is under U.S. sanctions. This action, identified by the security firm PeckShield, is a common technique used by cybercriminals to obscure the trail of stolen funds and make it more challenging for authorities to trace and recover them. On the 18th of July 2024, WazirX was struck by...

Global cryptocurrency exchange OKX has officially received its full Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) for its Singapore branch, OKX SG. This license permits OKX SG to engage in digital payment services, transfers of money internationally, and spot cryptocurrency trading for any investor in Singapore. Apart from obtaining the license, OKX has also hired Gracie Lin as the CEO of its Singapore offices. Lin brings extensive experience to her...

Binance’s head of financial crime compliance and former federal agent Tigran Gambaryan was brought to court as his trial resumed on September 2 after over a month of Nigerian court holidays. His trial was initially slated to resume in November but was pushed ahead to this month. Gambaryan’s legal counsel motioned to have him out on bail due to worsening health conditions. The opposing counsel fired back at the claims, asking the judge not to grant Gambaryan bail as they feel his health is...