Online cryptocurrency promotions must be regulated to deal with “problematic content”, says British watchdog

Britain’s Financial Conduct Authority (FCA) on Monday asked for powers to govern the online promotion of cryptoassets to combat a flood of “problematic content” it said was worthless. With some cryptoassets using social media influencers and other celebrities to promote so-called tokens, Britain’s finance ministry has already consulted on the need to regulate them. The … Read more

CrossTower, a global cryptocurrency exchange, enters India despite political uncertainty

CrossTower, the US-based currency exchange, has established a local unit in India and launched a trading platform to capture the growing domestic market for cryptography, although the fate of cryptocurrency in India remains unclear. CrossTower India has already hired 35 people and plans to increase its headcount to 100 in six to nine months, the … Read more

Binance removes Singapore products from main platform after regulator notice

Embattled Binance, one of the world’s largest cryptocurrency exchanges, said it would restrict its services in Singapore days after the city’s central bank said it should stop offering payment services. Singapore’s Monetary Authority has become the last regulator to target Binance, warning last week that its global platform, Binance.com, could be breaking the law by … Read more

Binance Founder Changpeng Zhao Claims His US Encryption Exchange Arm Targets IPO Within 3 Years: Report

Changpeng Zhao, founder and CEO of Binance, the global cryptocurrency exchange, said his US arm could have an initial public offering within the next three years, The Information reported on Wednesday. “Binance.US will just do what Coinbase did,” Zhao said, according to the report. Binance.US is also expected to end a large round of private … Read more

Binance CEO Changpeng Zhao says the top priority is to hire more regulatory staff

Binance is on a hiring spree to add compliance teams as the company faces US regulatory scrutiny on money laundering and tax evasion. Changpeng “CZ” Zhao, CEO of the world’s largest cryptocurrency exchange, said his #1 priority is to hire people with regulatory and compliance experience. The company also seeks regular meetings with US authorities. … Read more

Binance Hires Former US Treasury Criminal Investigator As Global Money Laundering Reporting Officer

Binance said on Wednesday it had named a former US Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by one of the world’s largest encryption exchanges to reinvent itself as a regulated finance company. . Governments and financial watchdogs are paying more attention to the cryptocurrency industry, often setting … Read more

Binance: Why is the cryptocurrency giant facing pressure from regulators?

Financial regulators around the world are targeting the leading cryptocurrency exchange Binance. Some banned the platform from certain activities, while others warned consumers that it was not licensed to operate. Here are answers to some key questions about Binance, the world’s largest exchange by trading volume, as regulatory pressure builds. How big is Binance? By … Read more

Binance Restricts Money Laundering Checks After Regulatory Pressure

The leading cryptocurrency exchange, Binance, said on Friday that it will require more stringent background checks on clients to bolster anti-money laundering efforts, with immediate effect. Binance, the world’s largest platform, has come under pressure in recent months from regulators around the world who are concerned about the potential for money laundering encryption and the … Read more