Crypto exchange BKEX suspended withdrawals after funds on its platform were used for money laundering, according to a May 29 statement. BKEX stated that its users’ funds were involved in money laundering, adding that it was cooperating with law enforcement agencies to gather evidence. Due to this, the exchange suspended withdrawals for an undisclosed period….
Hong Kong targets May for crypto exchange licensing regulations
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NEXO releases proof of reserves showing no exposure to FTX
Despite posting a proof-of-reserves with neither asset breakdown nor wallet addresses, Nexo praised its risk engine as the sole reason for no bad debts. According to the Nov. 28 tweets, most exchanges were submitting proof of reserves but failing to prove whether their assets exceeded the liabilities. The firm which was lucky to withdraw its…
Report: Coinbase is least risky crypto exchange to trade on
Market data aggregator CryptoCompare has named Coinbase the most transparent and accountable crypto exchange in the world, per the firm’s latest report that ranked 150 trading platforms. According to CryptoCompare’s researchers, the Brian Armstrong-led exchange is closely followed by crypto platforms such as Gemini, Binance, and Bitstamp. /1 Today, we are delighted to release our #ExchangeBenchmark…
Gary Gensler urges crypto exchanges to register with SEC. Says investors ‘will be protected’
In a new press statement, the United States Securities and Exchange Commission boss Gary Gensler has begged crypto exchanges operating under his radar and within the country’s shores to ensure the safety of the investments of their investors by registering with the SEC. Gensler calls on exchanges to register Gensler made the plea as part…
24 crypto exchanges in Korea face regulatory death knell
33 face heat in Korea over alleged $1.48 billion in crypto transfers Seoul’s Central Customs has prosecuted, fined, or is currently investigating 33 individuals who were allegedly involved in 1.69 trillion won ($1.48 billion) worth of illegal overseas cryptocurrency transactions in South Korea, The Korea Times reported today. 2 min read →