Stakeholders urge Nigeria to adopt compliance-focused crypto regulation
While the government’s concerns are valid, industry stakeholders agree that a more measured approach could yield better outcomes. Go to Source
Binance
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Long-Term Holders Secure $138M Daily As Bitcoin Market Shows Mixed Signals
In recent months, Long-Term Holders (LTH) have been consistently locking in around $138 million in daily profits despite turbulent market conditions. This steady flow of profits underscores the ongoing supply and demand dynamics, where each transaction involves a buyer and a seller, with price adjustments balancing these forces. This $138 million daily sell-side pressure from … Read more
Binance Unveils Plan to Hire 1,000 Employees This Year, Prioritizing Compliance Amid Regulatory Pressure
Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance CEO Richard … Read more
India Expected to Release Consultation Paper on Cryptocurrency Regulations in Coming Months, Report
The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather feedback on effective regulation. India is emphasizing the importance of international … Read more
Binance Launches Mobile Money Feature for Crypto Transactions in Africa
Crypto exchange Binance has launched its One Click Buy and Sell (OCBS) service in Africa, enabling users in Ghana, Tanzania, Uganda, and Zambia to buy and sell cryptocurrencies via mobile money accounts. This initiative aims to enhance financial inclusion, particularly for the unbanked and underbanked populations. Binance Expands Services in Africa, Boosting Crypto Accessibility Cryptocurrency … Read more
Changpeng Zhao moved to custody of field office ahead of Sept release
As of Aug. 22, the US Federal Bureau of Prisons listed the former Binance CEO as an inmate of the Residential Reentry Management Long Beach field office. Go to Source
20% of Binance’s new hires this year will be in compliance, says CEO
The company aims to increase its compliance workforce by 200 this year, along with another 800 staff in other departments. Go to Source
Miami Heat star, ‘Bitboy’ agree to cough up $340K to settle Binance promo suit
Pro basketballer Jimmy Butler and crypto influencer Ben Armstrong are looking to settle claims in a Binance-related class lawsuit while denying any wrongdoing. Go to Source
Binance Says It Protects Over $2.4 Billion From Crypto Scams This Year
Crypto exchange Binance says it has protected over $2.4 billion from scams and fraudulent activities this year, safeguarding more than 1.2 million users worldwide. The exchange’s AI-driven and manual risk management system identified and blocked suspicious transactions, particularly during crypto withdrawals, where $1.1 billion in scam-related activities were thwarted, Binance explained. $2.4 Billion Saved, Says … Read more
Binance Faces Renewed Legal Battle Over Alleged Crypto Money Laundering
Binance and its former CEO, Changpeng Zhao (CZ), are facing a revived class action lawsuit in the U.S. District Court for the Western District of Washington, Seattle. The lawsuit, filed by three cryptocurrency investors, alleges that Binance facilitated money laundering of stolen crypto assets, making them untraceable. The plaintiffs claim that their stolen crypto was … Read more