Exchanges

Chinese traders turn to OTC desks amid regulatory crackdown

As Beijing attempts to regulate and suppress the cryptocurrency boom, traders have been evading regulatory oversight by using over-the-counter, or OTC trading desks. According toa May 31 report published by Bloomberg, there has been a significant uptick in OTC platform usage since China announced its latest crackdown earlier this month, with China tightening restrictions prohibiting …

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Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains

<div class=”featured_image_container”> </div> <strong>Australia’s revenue service has reminded a growing number of crypto investors about their tax obligations. Rejecting the common misconception that crypto gains are only taxable when coins are cashed back into dollars, the tax office is going to prompt hundreds of thousands of taxpayers to report profits and losses from their cryptocurrency …

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Dutch Central Bank Revokes Strict Verification Rules for Crypto Exchanges

<div class=”featured_image_container”> </div> <strong>The cryptocurrency industry in the Netherlands has won a small but significant battle. The country’s central bank has canceled some excessive verification procedures that it imposed on crypto service providers last fall. The move comes after a local exchange took the matter to court. </strong> DNB Takes a Step Back on Unlawful …

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Restrictions on Crypto Trading to Deprive Nation of Opportunities, Iranian Fintechs Warn

<div class=”featured_image_container”> </div> <strong>Startups have spoken out against government attempts to curb the operations of crypto exchanges in Iran. Cryptocurrency trading is not illegal, Iranian fintechs insist, calling on lawmakers and regulators to develop rules that would allow the sanctioned country to continue to take advantage of decentralized money transfers. </strong> Iranian Fintechs Insist There …

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South Korea to Crack Down on Phishing Websites Attacking Crypto Users

<div class=”featured_image_container”> </div> <strong>South Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year. </strong> Seoul Strengthens Monitoring of Crypto Phishing Scams …

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Dogecoin Market Cap Nears $100B, Critics Blast ‘Joke Coin,’ Community Abuzz With Rumors of DOGE Whales

<div class=”featured_image_container”> </div> <strong>The infamous meme-based cryptocurrency dogecoin is on the move again just before the upcoming Saturday Night Live episode featuring Elon Musk. While dogecoin is up 81% today a lot of cryptocurrency veterans have been warning newbies about the digital currency that was meant to be a joke. Meanwhile, others believe that dogecoin …

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South Korean Police Officers Banned From Buying Cryptocurrency

<div class=”featured_image_container”> </div> <strong>A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. </strong> South Korea to Penalize National Police Agency Officers Who Fail to Disclose …

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Latam Based Exchange Bitso Gets Unicorn Status After $250 Million Funding Round

<div class=”featured_image_container”> </div> <strong>Bitso, one of the biggest cryptocurrency exchanges in Latam, has reached unicorn status after a funding round that managed to raise $250 million with the participation of some big names in the cryptocurrency world. The company announced it would use these resources to expand its operations and keep growing in its core …

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South Korean Police Raid Crypto Exchange Allegedly Involved in a $214M Multi-Level Marketing Fraud

<div class=”featured_image_container”> </div> <strong>Authorities in South Korea have launched a major raid against a domestic crypto exchange allegedly involved in a millionaire multi-level marketing (MLM) fraud. The police accuse V Global platform of running an illicit operation that reportedly stole hundreds of millions of dollars from investors.</strong> Masterminds Could Have Defrauded Over 40,000 People According …

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Turkey Jails 6 People as Police Widen Search for Missing Cryptocurrency Exchange CEO Accused of Exit Scam

<div class=”featured_image_container”> </div> <strong>Turkey has now jailed six suspects connected to the cryptocurrency exchange Thodex, which has been accused of an exit scam. Turkish authorities and Interpol have widened their search for the exchange’s CEO, who fled the country before shutting down his trading platform, preventing customers from withdrawing their funds.</strong> Search Widens for CEO …

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