Binance is Legitimizing Crypto Market by Eliminating Money Laundering

Binance, the world’s largest crypto exchange, has voluntarily engaged in an initiative to eliminate money laundering on its platform. For years, despite the inherent lack of privacy measures on major public blockchain networks like Bitcoin and Ethereum that discourage the settlement of illicit transactions, a widely pushed narrative against crypto has been the suspected usage …

China’s Internet Agency Regulator Has Strict Demands For Blockchain Startups

China’s central internet regulator has issued strict rules targeting blockchain companies and entities operating in China. The Cyberspace Administration of China has published draft regulations on Friday demanding blockchain-based information service providers to register users using real names, national identification numbers, censor postings and store user data. The regulations follow an open letter posted by a Chinese student activist …

South Korea Remains Firm on ICO Ban Despite Calls for Legality, For Now

The chairman of South Korea’s primary markets regulator has reaffirmed the authority’s initial coin offering (ICO) ban in a top-level meeting on Thursday. Financial Services Commission (FSC) Chairman Choi Jong-ku has told lawmakers during the annual government audit in a parliamentary meeting that the authority will stick to its policy of a sweeping blanket ban …

BitMEX Taps Former Hong Kong Regulator as Chief Operating Officer

BitMEX, one of the largest cryptocurrency trading platforms, has named Angelina Kwan, formerly managing director and head of regulatory compliance for Hong Kong Exchanges and Clearing Limited (HKEX), as its chief operating officer. Kwan, who joins the company as it rides exceptional growth, will work with regulators worldwide to develop rules that will support cryptocurrency’s …

Mongolia Issues First Digital Currency License to Local Telecom Operator

Mongolia has taken a significant step forward toward bolstering its fintech sector, with the East Asian country’s central bank authorizing a local telecom operator to issue a digital currency under the country’s recently-passed national payment system bill. As first reported by state-owned news agency Montsame, the Bank of Mongolia on Friday issued its first-ever digital …

Japan Slaps Crypto Exchange Operator after $60 Million Theft

Japanese financial authorities are ramping up their scrutiny into the domestic crypto exchange sector after last week’s ¥6.7 billion ($60 million) hack of Tech Bureau’s exchange Zaif. In an announcement today, Japan’s Ministry of Finance struck Osaka-based Tech Bureau, operator of the licensed cryptocurrency exchange Zaif, with “administrative penalties” wherein the latter sees a number …

SEC Director Vows ‘More Substantial’ Enforcement Against Illegal ICOs

U.S. Securities and Exchange Commission (SEC) co-director of enforcement Stephanie Avakian mentioned in a Sept. 20 speech that the regulatory agency is most likely going to recommend “more substantial remedies” against those who fail to follow proper initial coin offering (ICO) registration requirements in the future According to a transcript of the speech posted on …

Proper Regulations Will Boost Confidence in Cryptocurrency Sector: Abu Dhabi Regulator

The regulatory chief of Abu Dhabi’s international financial center and free zone has called for tighter regulations for cryptocurrency trading and ICOs while recognizing the growing global industry. Nearly a year after issuing its guidelines for cryptocurrencies and initial coin offerings (ICOs), effectively regulating the industry, the Financial Services Regulatory Authority (FSRA) is sharing its …

Cryptocurrencies ‘Here to Stay, Market Growing despite Recent Turbulence’: EU Watchdog Chief

Following the meeting of the EU Economic and Financial Affairs Council (ECOFIN) in Vienna, Austria on September 7, European Commission Vice-President Vladis Dombrovskis has stated that the Council’s position on cryptocurrencies is that they are here to stay despite market turbulence. CCN earlier reported that the 28 EU finance ministers would meet for an informal …

Philippines Prepares to Regulate Cryptocurrency Exchanges as Trading Platforms

The head of the Philippines’ Securities and Exchange Commission (SEC) is targeting draft rules for domestic cryptocurrency exchanges within weeks ahead of finalizing regulations later this year. Cryptocurrency exchanges in the Philippines could soon operate as regulated trading platforms as authorities proactively seek to both protect investors and enable an inclusive ecosystem for cryptocurrencies to …