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Binance, which was founded by Changpeng Zhao in Shanghai in 2017, has grown to dominate the crypto industry but also faces scrutiny from regulators keen to clamp down on money-laundering.
Bitcoin had struggled to gain traction after a series of crypto company meltdowns, including the sudden collapse of exchange FTX late last year, which authorities say was running a multi-billion dollar fraud.
NEW YORK, June 29 (Reuters) – Coinbase, the largest U.S.
cryptocurrency platform, said it will ask a judge to dismiss the U.S. Securities and Exchange Commission lawsuit claiming it broke the law by failing to register its business.
A source at the regulator said on Wednesday that Binance never launched its business in Cyprus. It was unclear when Binance applied to deregister.
The exchange, the world’s biggest, announced its registration with the Cyprus Securities and Exchange Commission in October 2022.
Bets for a pause were supported by data on Thursday that showed the number of Americans filing new jobless claims surged to a more than 1 1/2-year high, indicating a loosening labour market that could further quell inflation.
June 28 (Reuters) – Bankrupt FTX is moving ahead with efforts to revive its flagship international cryptocurrency exchange, the Wall Street Journal reported on Wednesday citing CEO John Ray.
June 16 (Reuters) – Binance, the largest cryptocurrency exchange, said on Friday that it was leaving the Dutch market because it had been unable to meet registration requirements to operate as a virtual asset service provider.
Leading crypto asset bitcoin dipped 0.2% to $26,648 after crypto exchange Binance said it was suspending dollar deposits and would soon pause fiat currency withdrawal channels following a U.S.
Securities and Exchange Commission crackdown.
Nowadays, cryptocurrency transactions take ages to complete. Since cryptocurrency-based companies have to exchange transactions on a regular basis, it is a great move to have more partners.
And we know the reason behind these partnerships. And then there is a problem of higher fees because of the long transaction processing times. This is one of the primary reasons cryptocurrency investment may not be suitable for 币安交易所 routine investment in the here and now.
Analysts say prices have also been depressed by regulatory uncertainty, as the SEC is increasingly cracking down on what it sees as a culture of rule-breaking across the industry.
The SEC earlier this month sued major exchanges Coinbase and Binance.
The world’s largest asset manager will be using Coinbase Custody – an offline storage solution for digital assets – for the ETF, and the crypto exchange’s spot market data for pricing, the report added.
OKX plans to hire 30 staff, Byun said, after opening an office last month in the Dubai World Trade Center in the business and financial hub of the United Arab Emirates.
Bankman-Fried said some charges relied on a fraud theory — where a defendant could be convicted for depriving someone of economically valuable information and not just tangible property — the U.S.
Supreme Court last month deemed invalid.
Last year, Nigeria’s SEC published a set of regulations for digital assets, signalling Africa’s most populous country was trying to find a middle ground between an outright ban on crypto assets and their unregulated use.
Global equities were set for a small weekly gain on Friday following a Wall Street rally overnight, as rising bets the Federal Reserve will skip a rate increase next week overshadowed worries about U.S.
markets being drained of cash.
BlackRock, WisdomTree, Invesco and VanEck also submitted paperwork for spot bitcoin ETFs on Cboe BZX, Nasdaq and NYSE Arca, which is owned by Intercontinental Exchange Inc . Fidelity is one of several big asset managers that have applied to list bitcoin ETFs recent weeks.
Fed Chair Jerome Powell said on May 19 it was still unclear whether U.S.
interest rates will need to rise further, and the risks of overtightening or undertightening had become more balanced.
Coinbase has said the agency hardened its stance and became less willing to work with crypto firms in the wake of the FTX scandal in late 2022.
(Reporting by Chris Prentice; Editing by Nick Macfie)
Binance and Coinbase have both denied the allegations and have accused the SEC of walking away from the firms’ efforts to cooperate and come to a resolution.
In the long run, we can say the former type of investments prove highly profitable compared to the latter.
Diversification of Portfolios
One of the biggest advantages of investing in cryptocurrencies is portfolio diversity.
Since all sorts of cryptocurrencies exhibit different characteristics, the overall risk in crypto investments is less compared to standard fiat currency investments.