Binance Chief Strategy Officer Speaks Out on Cryptocurrency Regulations in US and UK
Chief strategy officer of the largest cryptocurrency exchange Binance said that the oppression of cryptocurrencies in the U.S. has become "very difficult to do business" UK also causes concern. U.S. actions "have been very confusing over the last six months," Patrick Hill ...
BitFlyer USA Fined $1.2 Million for Cybersecurity Violations
This is the decision issued by U.S. regulator NYDFS The reason is a violation of cybersecurity rules Cryptocurrency exchange has promised to "work on the errors" Cryptocurrency exchange BitFlyer USA received a fine from the New York Department of Fina ...
BitFlyer Fined $1.2 Million for Violating Cybersecurity Regulations by NYDFS
The New York State Department of Financial Services (NYDFS) fined cryptocurrency exchange BitFlyer $1.2 million for violating cybersecurity regulations. In 2017, BitFlyer USA, a subsidiary of BitFlyer Holdings, received a license from the New York regulator allowing the e ...
Paxos to Reapply for National Banking License as Previous Application Expires
According to recent reports, Paxos has had its national banking license application terminated by the US Comptroller's Office. Paxos, which issues the Pax Dollar (USDP) stablecoin, had delayed compliance with the regulator's requirements for an earlier application for a banking license and approv ...
NYDFS Superintendent Rejects Claim that Signature Bank Closure was Due to Cryptocurrency Clients
The superintendent in charge of the New York State Department of Financial Services (NYDFS) has dismissed claims that Signature bank's closure was related to its dealings with cryptocurrency companies, deeming such allegations as absurd. Adrienne A. Harris clarified that the actual reason for the ...
AAVE Freezes BUSD Reserves Following NYDFS Ban and Decreasing Market Demand
The unanimous approval of the proposal to freeze BUSD reserves in the Ethereum Aave V2 pool took effect on February 27th. According to comments posted on the official DeFi AAVE protocol resource, the decision to block Binance USD (BUSD) stablecoins was made despite the fact that BUSD is not a borrow ...
Stablecoin Market Update: USDT Regains Majority Share
According to data from CoinGecko, the stablecoin market saw a shift in dominance as the largest stablecoin by capitalization, USDT, gained a majority share of 51.31%, for the first time since May 2022. USD Coin (USDC) came in second with 30.64% of the market, while Binance USD (BUSD) accounted for 1 ...
Paxos CEO Disagrees with Regulators over BUSD Classification as Security
Paxos' CEO, Charles Cascarilla, has expressed his disagreement with regulatory bodies' views on BinanceUSD (BUSD), a stablecoin, being classified as a security. He stated that Paxos has always strived to maintain good relationships with regulators and comply with the law since its inception. Howe ...