The government of Japan is looking to introduce cryptocurrency transfer rules in May 2023 to track money transfers by criminals, according to a Nikkei Asia report on Sept. 27. The government will amend the Act on Prevention of Transfer of Criminal Proceeds to crack down on money laundering via cryptocurrencies, according to the report. A…
FTX US president Brett Harrison announced Sept. 27 that he is stepping down from his role and moving into an advisory role at the United States-based crypto exchange. 1/ An announcement: I’m stepping down as President of @FTX_Official. Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at…
Binance announced that the exchange has started applying the 1.2% tax burn on Terra Luna Classic (LUNC) trades. The announcement stated: “Binance will implement a burn mechanism to burn all trading fees on LUNC spot and margin trading pairs by sending them to the LUNC burn address.” The calculation of total LUNC to burn will…
Binance CEO Changpeng Zhao (CZ) was asked if Binance was ever going to apply the 1.2% tax on Terra Luna Classic (LUNC) off-chain trades. CZ answered the question during a Twitter AMA, stating that Binance would add an opt-in button for those wishing to apply the burn. However, he later posted a blog post to introduce…
Cryptocurrency exchange Binance hired Kraken’s former chief of compliance Steven Christie in May as senior vice president of compliance to lead its global compliance team, The Wall Street Journal reported Sept. 23. Binance’s CEO Changpeng Zhao (CZ) said he is looking to hire more compliance experts in the near future. Christie left his position at Binance’s rival…
Kraken’s Co-founder and CEO Jesse Powell is stepping down from his position and will be replaced by the firm’s COO Dave Ripley, according to a Sept 21 press statement. Powell will become the chairman of the company’s board; he will now be focusing on product development and crypto industry advocacy. The press release stated that…
BitGo said that Galaxy Digital’s decision to pull out of the merger deal has nothing to do with its financial statements but with Galaxy’s inability to finance the deal owing to its loss of over $661 million in the first half of 2022. On August 15, Galaxy Digital announced that it would terminate its merger…
India’s largest crypto exchange WazirX has announced that it’ll stop supporting USDC, USDP, and TUSD on Sept. 26 to “enhance liquidity and capital efficiency.” According to the announcement, the exchange will continue to support withdrawals of USDC, USDP, and TUSD until Sept. 23 and de-list these currencies and their spot market pairs at 06:30 AM…
A crypto trader on GMX exchange leveraged the zero slippage feature to extract over $565,000 in profit by manipulating the price of the AVAX token. GMX is a decentralized exchange that allows users to execute trades at zero slippage. Traders on the platform are able to execute trades at the same price it was initiated….
The U.K. Financial Conduct Authority (FCA) said FTX operates within the country without authorization, the Financial Times reported on Sept 19. According to the FCA, those using FTX “will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money…