Binance reportedly wishes to pay fines to settle US investigations
Binance cryptocurrency exchange expects it will be able to finally settle the ongoing issues of regulatory investigations of the cryptocurrency industry in the U.S. by paying fines. Chief Strategy Officer Patrick Hillmann claims that the majority of the software engineers who contributed to the growth of the exchange were not aware of the laws and […]
Binance withdrawals surge following Paxos, BUSD issue
Following the New York Department of Financial Services (NYDFS) crackdown on Paxos and stablecoin Binance USD, Binance cryptocurrency exchange has seen an increase in withdrawals over the past 24 hours. The BUSD token has also experienced significant redemptions; according to Peckshield, 342 million BUSD were burned in the previous day. News of potential enforcement action […]
NYDFS orders Paxos to stop issuing Binance USD
New York Department of Financial Services (NYDFS) has ordered Paxos to stop issuing Binance USD stablecoin (BUSD), one of the world’s largest stablecoin by market cap. The United States Securities and Exchange Commission (SEC), which notifies firms of impending enforcement action, sent Paxos a wells warning not long before the New York regulator took its […]
Binance deploys zk-SNARKs to improve proof-of-reserve systems
Binance announced a huge upgrade to its proof-of-reserves verification system on, stating that it will now incorporate zk-SNARKs. On February 10, cryptocurrency exchange Binance announced a significant improvement to its proof-of-reserves verification process. Binance said it would now include zk-SNARKs, a cutting-edge technology that will enable it to verify its reserves in a more secure […]
Binance launches new tax reporting tool for crypto users
Crypto exchange Binance is launching a new tax reporting tool to help crypto users access tax details aligning with their crypto activity and also to help report information during the upcoming tax season. In order to assist customers to keep track of their cryptocurrency transactions for tax reporting reasons, cryptocurrency exchange Binance announced on February […]