Regulations

In a court filing on April 23, US prosecutors said Binance founder and ex-chief executive Changpeng Zhao should serve 36 months in prison over the allegations of violating the anti-money laundering laws (AML). Zhao pleaded guilty in the US to anti-money laundering and sanctions violations in November 2023. He then stepped down from his chief […]

On April 5, crypto exchange Binance unveiled more stringent Know Your Customer (KYC) measures. Starting from April 20, users who have not submitted the required KYC information will no longer be able to access their sub-accounts created as part of the Binance Link program. This measure will affect the sub-accounts created solely for depositing cryptocurrencies. […]

According to local reports, detained Binance executive Tigran Gambaryan filed a lawsuit against Nigeria’s National Security Advisor (NSA) and the Economic and Financial Crimes Commission (EFCC) on March 28 for violating his basic human rights.  Nigerian authorities detained Gambaryan, a US citizen overseeing the exchange’s crime investigation unit, along with Nadeem Anjarwalla, Binance’s regional manager […]

The Philippines’ Securities and Exchange Commission (SEC) is blocking local user access to Binance, the world’s largest cryptocurrency exchange, citing concerns over the firm’s unlicensed operations in the country. The ban will take effect within three months to offer investors time to sell any shares they may have acquired through Binance, according to a March […]

Indonesia has experienced an impressive surge in crypto transactions, reaching Indonesian Rupiah 30 trillion ($1.92 billion) in February, according to the country’s crypto regulator. The number of registered cryptocurrency investors in the country also hit 19 million last month, indicating an increase of 170,000 users from January.  The Commodity Futures Trading Supervisory Agency (Bappebti) attributes […]

Thailand’s Securities and Exchange Commission (SEC) has greenlit asset management firms in the country to launch private funds to offer Bitcoin (BTC) exchange-traded funds (ETFs). However, these private Bitcoin ETF funds will only be available for institutional investors and “ultra-high-net-worth individuals.”  According to a March 12 report from the Bangkok Post, private funds managed by […]

Hong Kong’s Securities and Futures Commission (SFC) cautioned investors against two “suspicious” investment offerings named “TokenFi Staking Program” and “Floki Staking Program.”  Both products affiliated with the Floki ecosystem offer crypto staking. These programs claim to offer high annualized return targets ranging from 30% to over 100%. However, the SFC emphasized that neither of the […]

United States-approved spot Bitcoin exchange-traded funds (ETFs) could eclipse the entire cryptocurrency exchange-traded product (ETP) market. According to new data from BitMEX research, the existing global market for crypto ETPs includes about 150 products totaling $50.3 billion in assets under management. The list includes spot and futures funds that typically track the performance of leading […]

The Japanese government has approved a tax reform that will provide favorable conditions for companies holding cryptocurrencies. An amendment to fiscal 2024 taxation laws will exempt companies from paying tax on “unrealized gains” on third-party digital tokens like Bitcoin (BTC). According to local reports, Japan’s government disclosed the new tax reform on December 22 following […]