Stringent regulatory requirements and an inability to serve mainland investors is pushing global cryptocurrency exchanges out of Hong Kong, with several major firms having withdrawn their licence applications a year after scrambling to set up shop ahead of new regulations meant to transform the city into a virtual asset hub. The local affiliates of major
Crypto goes up, and crypto goes down. Then, often, crypto goes back up. It can be a dizzying and volatile cycle. Just collapsed cryptocurrency exchange FTX’s customers, who, having once feared they’d lost their collective billions, can now take solace from the news Tuesday (May 7) that FTX’s bankruptcy team is ready to repay them
Crypto.com said it’s postponing a planned launch in South Korea after local news outlet Segye Ilbo reported on Monday that the exchange platform was facing an “urgent on-site inspection” over money laundering concerns. The report said that South Korea’s Financial Intelligence Unit (FIU) under the Financial Services Commission had discovered “problems related to anti-money laundering
Like the Summer Olympics and the presidential election, bitcoin’s “halving” comes every four years. The latest halving — a preprogrammed event that cuts the amount of available coins to be mined in half — happened Friday (April 19) evening, according to multiple published reports. As noted here late last week, the halving is built in
Crypto.com’s venture capital unit has doubts about some of the sector’s steep valuations. That’s according to CEO Kris Marszalek, who spoke on the topic in an interview with Bloomberg News published Wednesday (April 17). As the report noted, Marszalek is making this observation as a rally in the crypto sector has kicked off an uptick in billion-dollar