Hong Kong Kicks out All Crypto Exchanges Without SFC License
Hong Kong orders the immediate cessation of operations for all cryptocurrency exchanges without an operational license from the Securities and Futures Commission (SFC). Hong Kong regulators issued cryptocurrency exchanges an explicit request on February 29 to reduce investor risk: either file for a license by that date or cease operations within three months. Over twenty-two […]
Crypto Exchange OKX Withdraws Hong Kong License Application
The well-known cryptocurrency exchange OKX declared that it will withdraw its application for a Hong Kong Virtual Asset Service Provider (VASP) license. The exchange gave no specifics in its notification on OKX’s blog, but stated that it decided after considering its business plan. In accordance with local regulatory regulations, OKX will thus cease providing centralized […]
Coinbase, Meta, Others Announce New Anti-Scam Coalition
Coinbase, in collaboration with Match Group, Meta, Kraken, Ripple, Gemini, and GASO, forms the Tech Against Scams coalition. Coinbase, a cryptocurrency exchange, announced on Tuesday that it has formed the Tech Against Scams coalition alongside industry heavyweights such as Match Group, Meta, Kraken, Ripple, Gemini, and GASO. In order to safeguard customers and dismantle con […]
China Arrests 6 for $300M Crypto Exchange Fraud
According to a recent report, Chinese authorities have arrested six persons in a $300 million crypto fraud investigation, indicating rigorous regulatory enforcement. Chinese authorities have successfully dismantled a substantial cryptocurrency exchange fraud operation, apprehending six individuals implicated in the illicit scheme and seizing approximately 2.14 billion yuan ($300 million). The enforcement operation, spearheaded by the […]
Bancolombia Launches Crypto Exchange, Peso Stablecoin
After nearly a decade of study and research, Bancolombia, the largest bank in Colombia, has established Wenia, a cryptocurrency exchange, and a peso-pegged stablecoin. In conjunction with a cryptocurrency exchange, the Colombian bank introduced “COPW,” a stablecoin pegged to the Colombian peso. In its inaugural year, the cryptocurrency platform intends to acquire 60,000 users and […]