New cryptocurrencies and trading platforms are proliferating. Blockchains are increasing in both numbers and length. Non-fungible tokens (NFTs) are entering the mainstream. In other words, the crypto world is unrecognizable from how it began. But along with this growth, crypto crime is also on the rise. Managing this threat is vital to ensure safe and legal trading.Back in … [Read more...] about Growing Compliance Adoption Making a Safer Crypto Space
Compliance
‘Compliance is a journey,’ says Binance CEO amid regulatory scrutiny
Amid intensifying concerns over Binance’s global regulatory issues, the company’s CEO and founder, Changpeng Zhao, has underscored the exchange’s commitment to cooperating with regulators.In an open letter on Tuesday, Zhao emphasized that the cryptocurrency industry has massively evolved over the past four years since Binance’s launch, while there is still a lot of regulatory … [Read more...] about ‘Compliance is a journey,’ says Binance CEO amid regulatory scrutiny
FATF draft guidance targets DeFi with compliance
The decentralized finance, or DeFi, space exploded over the last year, with a total value locked in DeFi of around $90 billion, according to DeBank. The DeFi ecosystem includes projects like Maker, Aave, Compound, Uniswap and more, with new ones rapidly emerging. DeFi is a broad concept to describe an emerging area of finance built using decentralized technological tools and … [Read more...] about FATF draft guidance targets DeFi with compliance
Bybit appoints new general counsel to lead global cryptocurrency compliance
Cryptocurrency derivatives exchange Bybit has appointed a new general counsel to lead the firm in its global compliance matters, and to oversee its legal team. Daniel Lim, formerly head of legal and compliance for the Singapore-based investment bank, Daiwa Capital Markets, was announced in the new role on March 9. Lim joins Bybit shortly after the exchange was forced to close … [Read more...] about Bybit appoints new general counsel to lead global cryptocurrency compliance
Cryptocurrency exchange Bybit shuts up shop in UK in compliance with FCA ban
Singapore-based cryptocurrency derivatives exchange Bybit announced on Friday that it would be suspending services for its customers n the United Kingdom. Bybit offers a range of high-end trading products for cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and more.The move follows a blanket ban on all retail cryptocurrency derivatives … [Read more...] about Cryptocurrency exchange Bybit shuts up shop in UK in compliance with FCA ban