Finance Magnates global multi-asset trading news
Finance Magnates is a global provider of multi-asset trading news, a global financial industry online directory, research, and conferences, exhibitions, and events around the world with a special focus on electronic trading, banking, investing, and technologies behind them.
Daily Crypto News With CoinMonks
Live Bitcoin and Cryptocurrency News
MMCrypto Cryptocurrency (ENG)
-
Crypto.com Delays App Launch in South Korea over Regulatory Scrutiny
Crypto.com has postponed the planned launch of its app in South Korea due to scrutiny by the regulators on the exchange's anti-money laundering practices. According to a local media publication Segye Ilbo, Korean financial authorities have initiated an emergency on-site inspection of the crypto exchange.
Anti-Money Laundering Concerns
The inspection, conducted by the
... -
Ripple Pushes Back: Challenges SEC's Proposed $2 Billion Fine
Ripple Labs has formally opposed the US Securities and Exchange Commission’s (SEC) proposition to levy a substantial fine of nearly $2 billion against the company linked to the XRP Ledger blockchain. Filed yesterday (Monday), Ripple's opposition challenges the SEC's proposal, which seeks to persuade a New York judge to impose the hefty penalty.
Legal Battle between Ripple and
... -
Strike's Expansion into Europe Accelerates Bitcoin Adoption
Strike, a payments application utilizing the Bitcoin blockchain, has launched its services in Europe, enabling customers in the region to engage in buying, selling, and withdrawing bitcoin (BTC). The announcement was made today (Wednesday).
Expanding Operations across Continents
Having recently expanded its operations to Africa, Strike has already established its presence in Asia,
... -
US Prosecutors Recommend 3-Year Prison Sentence for Binance's Changpeng Zhao: Report
US prosecutors have proposed a 36-month prison sentence for Binance's former CEO, Changpeng Zhao. According to a report by CNBC, the prosecutors argued that such a sentence, which is double the advisory guidelines, reflects the seriousness of the charges against Zhao.
The recommendation, outlined in a sentencing memorandum filed with the Western District Court of Washington, highlights
... -
Middle East Records 166% Surge in Crypto Adoption, UAE Leads
The Middle East has emerged as a hotspot for cryptocurrency adoption, according to a recent report by Bitget Research. The average daily number of crypto traders in the region soared to 500,000 in 2024. This figure represents an increase of 166% year-over-year.
Crypto in the Middle East
This surge in crypto adoption is driven by several factors, such as favorable
... -
Binance Faces Fresh Regulatory Storm: Philippines Orders Google and Apple to Remove Apps
The Philippines' securities regulator has taken enforcement action against Binance, ordering Google and Apple to remove their apps from their respective app stores. This action follows allegations that Binance offered unregistered securities to Filipino investors.
Philippines' SEC Targets Binance's Apps
The Philippines' Securities and Exchange Commission (SEC), through its
... -
Bitcoin Miner Hut 8 Gains Momentum: Shares Surge as Coverage Begins
Hut 8, the result of a merger with US Bitcoin Corporation last November, has garnered attention due to its diversified business model, according to a research report by Benchmark released today (Monday).
A Close Look at Revenue Streams and Crypto Reserves
Benchmark analysts highlighted the company's various revenue streams, including self-mining, managed services,
-
Worldcoin Defies Regulatory Challenges: Seeks Partnership with OpenAI
Worldcoin is eying a potential partnership with artificial intelligence research firm OpenAI, according to a report by Bloomberg. This latest development arrives despite the regulatory hurdles facing the digital identity platform over privacy concerns. Through its parent company, Tools for Humanity, the cryptocurrency project plans to expand its services.
Navigating Regulatory
... -
Consensys Sues the SEC: Calls Its Authority over Ethereum “Unlawful”
Consensys, a United States-based blockchain firm, has initiated legal action against the Securities and Exchange Commission (SEC) in a bid to deter the regulator from overseeing the Ethereum blockchain. Filed yesterday (Thursday), the lawsuit termed the efforts of the regulator a “campaign to seize control over the future of cryptocurrency.”
A Strategic Lawsuit
The lawsuit argued
... -
Detained Binance Executives’ Bail Hearing in Nigeria Pushed to May 17
Tigran Gambaryan, the detained Binance executive in Nigeria, will remain in custody until a bail hearing on May 17. Meanwhile, his trial is scheduled for May 2.
More Jail Time in Nigeria
The extension of Gambaryan’s remand was granted by the Nigerian court yesterday (Tuesday) amid opposition from federal prosecutors to the appeal for bail. The crypto exchange’s executive has
... -
Breaking: Bitcoin Halving is Sealed after Mining of Block 840,000
The Bitcoin halving just took place at block number 840,000. This event today reduced the mining reward for each block to 3.125 Bitcoins from 6.25 Bitcoins. New Bitcoins are introduced into circulation through these mining rewards.
Another Bitcoin Halving
Halving is one of the most significant events in the cryptocurrency world and occurs approximately every four years,
... -
Bitcoin Halving and Geopolitics: The Liquidity Conundrum
The long-awaited day of the 4th phase of Bitcoin's halving is looming in the cryptocurrency sector. The countdown to this event shows that it could happen around the final hours of Friday evening if you are located in the Americas or Saturday morning if you are in Asia or Europe.
According to the market metrics, the event is much anticipated and should be discounted well in advance of
... -
Federal Prosecutors Charge Samurai Wallet Founders with Money Laundering
Federal prosecutors charged Samurai Wallet founders, Keonne Rodriguez and William Lonergan Hill, with conspiracy to commit money laundering yesterday (Wednesday), marking another development in the US government's ongoing efforts to address the use of crypto mixing tools potentially exploited by illicit actors and foreign entities to conceal financial transactions.
Facing Legal Action
... -
Thailand Cracks Down on Unregistered Crypto Services to Tackle Cyber Crime
Thailand is planning to block unauthorized cryptocurrency service providers to fight online crime. The Office of the Securities and Exchange Commission (SEC) is partnering with Thai government agencies to prevent criminals from utilizing crypto exchanges for illicit activities, including money laundering.
Thailand Warns about Unregistered Crypto Platforms
According to the press
... -
Ripple vs. SEC: Trial Resumes as Crypto Industry Braces for Impact
The legal battle between Ripple and the SEC over allegations of illegal sale of cryptocurrencies has reached a crucial step as the long-awaited trial starts today (Tuesday). The SEC first accused Ripple Labs of offering unregistered securities in December 2020.
Ripple's defense is based on the argument that its native cryptocurrency, XRP, should not be classified as a security. As
...