Author: NBTC
Twenty-Four companies have applied for licenses to operate digital asset exchanges in Hong Kong, marking a move in the city’s bid to establish a regulated hub for the industry. Notable applicants include Bybit, OKX, and Crypto.com. Among the list of applicants were Gate.io, HTX, and Bullish, each boasting notable trading volumes in the digital asset sphere. The application process came with a deadline of February 29th, after which platforms failing to submit must cease operations by the end of May. Angela Ang, Senior Policy Adviser at Blockchain Intelligence Firm TRM Labs, Source: LinkedIn Notably absent from the applicant roster were…
In response to Changpeng “CZ” Zhao’s legal entanglements and pending criminal sentencing for AML violations, the United States Department of Justice (DOJ) has filed a motion to bolster the bond conditions for the former Binance CEO. This move comes in the wake of Judge Richard Jones’ December order mandating Zhao’s presence in the continental U.S. until sentencing, thereby denying his appeals to travel to the United Arab Emirates (UAE) to be with his family. Prosecutors have cited the need for stricter conditions in line with the court’s directives, emphasizing the importance of ensuring Zhao’s compliance with legal proceedings and fostering…
In a recent post on the decentralized social network Warpcast, Ethereum Co-Founder Vitalik Buterin discussed his disappointment regarding Reddit’s upcoming IPO and user ownership initiative. However, Buterin appreciated Reddit’s experimentation with “contributor ownership.” Reddit shared the IPO details, inviting eligible users who have contributed to Reddit to take part in their IPO. Interestingly, the letter highlighted that only U.S. residents are allowed to take part in the IPO. The letter stated, We’re offering a Directed Share Program (“DSP”) that invites eligible users and moderators who have contributed to Reddit to participate in our initial public offering (“IPO”). (Including you!) Moreover,…
The Nigerian government has imposed a staggering $10 billion fine on Binance as part of a crackdown on the platform in an effort to stabilize the nation’s local currency. Bayo Onanuga, the special adviser on information and strategy to President Bola Tinubu, revealed the fine in an interview with the BBC, according to a report Premium Times reported on Friday. According to Onanuga, Binance has allegedly profited significantly from “illegal transactions” in Nigeria while the country has suffered substantial losses. Nigeria’s ONSA Confirms Investigation into Binance The Nigerian government’s move comes after the Office of the National Security Adviser (ONSA)…
Nigeria’s fiat currency is experiencing a significant decline in value against major foreign currencies, and the government is blaming cryptocurrency. On Feb. 21, Binance stirred controversy within the Nigerian crypto community by imposing a price cap on the USDT P2P exchange rate as part of its compliance efforts. In response to widespread backlash, the exchange quickly reversed this decision, allowing transactions to resume as usual. While the intention behind this action was to ease tensions, it might have unintentionally worsened the situation for Binance. This occurred as the government moved to block cryptocurrency platforms and specifically targeted the Binance website…
US Presidential Candidate Robert F. Kennedy Jr. has hailed cryptocurrencies as the best hedge against inflation. In a recent discussion with Caitlin Long, founder and CEO of Custodia Bank at ETHDenver, Kennedy said that cryptocurrencies reclaim control from both the government and monopolistic institutions, offering a myriad of freedoms to individuals. “And among the freedoms that we’re concerned about is the freedom to keep the fruits of your labor, which inflation robs you of,” he said. The Presidential Candidate added that cryptocurrencies provide the best hedge against inflation, safeguarding individuals’ financial well-being. There has been a growing interest and acceptance…
Cryptocurrency trading platform Binance has made the decision to remove the Nigerian currency, the naira, from its peer-to-peer (P2P) service, prompting discontent and concern among Binance users in Nigeria. This development coincides with reports that two Binance executives have been detained in Nigeria, with their passports confiscated. The executives had traveled to Nigeria to address the country’s ban on crypto exchange websites. Binance Removes Naira from P2P Market Binance has officially delisted NGN from the P2P market. pic.twitter.com/t13ko4ouXQ — Ade₿ayo (@juwon_adebayo) February 28, 2024 The removal of the naira from Binance’s P2P market follows claims by Nigerian authorities that the…
Binance is in hot water in Nigeria in the aftermath of its settlement with the U.S. Department of Justice (DOJ). Nigeria’s House of Representatives Committee on Financial Crimes issued an ultimatum to Binance CEO Richard Teng on Friday, according to a local news report. Ginger Onwusibe, the chairman of the committee, has asked Teng to appear before the committee by March 4. The summons was issued over its alleged involvement in financial crimes, including money laundering and terrorism financing. Onwusibe warned that Teng’s failure to answer the summons would force the committee to invoke its constitutional powers and take appropriate…
Looking over the global crypto landscape, it seemed recently as though the UK wasn’t keeping pace with other regions. In the US, the SEC finally approved spot Bitcoin ETFs, and the new products have enjoyed an explosive start, demonstrating sustained demand and impressive volumes. There is anticipation also for similar ETFs in Hong Kong, and on the regulatory front, the EU appears to be moving quickly, having already created a bespoke package of crypto regulation called MiCA. ✅ BREAKING: U.S. Bitcoin ETFs had RECORD inflows today, primarily due to $IBIT ’s record flows 👇 pic.twitter.com/7ZQcN9Jw52 — HODL15Capital 🇺🇸 (@HODL15Capital) February…
Nigeria’s government has denied reports that it’s set to hit crypto exchange Binance with a $10 billion fine, claiming that a statement from one of its senior advisors was misquoted. The Premium Times had claimed that Bayo Onanuga, Nigeria’s special advisor on information and strategy, had announced the fine in an interview with the BBC. However, Onanuga later told the Peoples Gazette that his words were misrepresented. He told the Gazette, “I never said Binance had been informed about the fines or that it would definitely be $10 billion,” adding, “I only said the amount may be imposed, which is…