Binance set to reenter Japanese crypto market
Binance is set to reenter the Japanese crypto market after acquiring the regulated crypto exchange platform, Sakura Exchange Bitcoin (SEBC). The SEBC platform will terminate its current crypto exchange and brokerage services by May 31, 2023, and reopen as Binance Japan in June. Binance had to fold its Japan operations in 2018 after regulatory warnings, but has since mended relations with regulators and reentered other markets through acquisitions.
Hong Kong to Release Cryptocurrency Exchange Licensing Guidelines
The Hong Kong Securities Futures Commission (SFC) plans to release guidelines for cryptocurrency exchange licensing next month, in support of trading services to retail investors by June 1. AML/KYC regulatory requirements were key considerations in the consultation process. Some trading platforms have already received licenses, while others have chosen to cease operations.
Binance CEO Denies Bloomberg's Net Worth Report
Binance CEO CZ denies Bloomberg's finance rich list that reported his net worth to be $28.2 billion. He claims to have a lot less than what is reported by some media outlets. CZ also stated that he does not view FTX exchange as a rival and welcomes more well-run exchanges in the space. CZ has been critical of mainstream media's representation of the cryptocurrency industry and has repeatedly denied information from major sources like Bloomberg and Forbes.
Bitget Pledges $10 Million for Fetch.ai Ecosystem
Bitget, a cryptocurrency derivatives exchange, has pledged $10 million towards the development of the Fetch.ai ecosystem. Fetch.ai provides infrastructure for autonomous services and features an AI agent network and smart wallet.
Decentralized Perpetual Exchange PairEx Announces Beta Trading Competition with Up to 8,888 USD ARB & PEX Tokens
PairEx.io, a decentralized perpetual exchange built on the Arbitrum network, is excited to announce its beta trading competition with a prize pool of up to 8,888 USD equivalent in ARB and PEX tokens. The competition, which is now live, offers traders the opportunity to showcase their trading skills and win lucrative rewards.
Zipmex Requests Moratorium Extension in Singapore
Cryptocurrency exchange Zipmex has requested an extension of its moratorium on debt in Singapore due to liquidity issues. The company plans to use the extra time to reopen withdrawals on its Z Wallet platform.
US Prosecutors Seek Lengthy Sentence for Crypto Shadow Bank Executive
US prosecutors seek a sentence of at least 7 years imprisonment for Reginald Fowler, a former minority owner of the Minnesota Vikings NFL team, over his alleged involvement in shadow banking practices through Crypto Capital Corp, an alleged crypto shadow bank. Fowler is accused of acting as an unlicensed money transmitter and deceiving financial institutions through Global Trading Solutions (GTS), a firm he established under Crypto Capital in 2018. GTS and Crypto Capital are alleged to have processed approximately $750 million in cryptocurrency transactions, providing unlicensed crypto firms with unlawful access to the U.S. banking system.
Bittrex Faces Potential Legal Action from US SEC
Bittrex, a US-based cryptocurrency exchange, may face legal action from the US Securities and Exchange Commission (SEC) over alleged violations related to investor protection, despite preparing to shut down its local operations.
Uniswap to Launch on Polygon's zkEVM
Decentralized exchange Uniswap is set to launch on the Ethereum scaling solution provider Polygon's zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up. The proposal has already passed the 40 million vote threshold required for approval, with 100% of addresses voting in favor.
Argentina Approves First Regulated Bitcoin Futures Index
The securities regulator of Argentina has approved the first regulated Bitcoin futures index on the Matba Rofex exchange, with the futures contract based on the price of BTC provided by various entities in the country. This provides a safe and regulated way for qualified investors to gain exposure to Bitcoin in a transparent environment. The launch of the Bitcoin futures contract comes as Argentina struggles with high inflation and citizens turn to Bitcoin as a way to mitigate its effects.