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Binance No Longer Majority Stakeholder of Gopax? Gopax, one of the largest crypto exchanges in South Korea , has signed a purchase and sale contract with a domestic crypto exchange, a local media reported on August 25. advertisement Gopax team met with representatives of another crypto exchange and signed a contract to acquire a majority stake in the troubled crypto exchange. Therefore, the major shareholder of Gopax will possibly become a new acquirer. The details of the acquisition party are not revealed and Gopax expects to make an official announcement next week. “I know that a new acquirer has recently completed a purchase and sale contract with me. The exact information on the acquirer is being thoroughly concealed as confidential even within Gopax, but I know that it will be officially announced next week.” However, a Gopax official has denied an acquisition contract signed by another crypto exchange. He said, “This is not true, and there...

Customer service for troubled crypto exchange Binance told a user that it has suspended EUR withdrawals and deposits through SEPA days after its payment processor Checkout.com terminated the relationship — but has since deleted the post. “We regret to inform you that we have temporarily suspended EUR withdrawals and deposits via SEPA ,” Binance customer support replied on X (formerly Twitter). “Unfortunately, our provider can no longer support these transactions.” Binance customer support was unable to specify when SEPA transfers would be reinstated and instead directed the EU user to alternative methods. “At the moment, we don’t have a specific time frame for the restoration of SEPA transfers ,” the X post read. Binance no longer has access to dollars, pounds, or Euros. Implosion next. https://t.co/vUvOsEbkGQ pic.twitter.com/Q5SZskUGBq — DIRTY BUBBLE MEDIA: GOOD LUCK, GOOD BYE. (@MikeBurgersburg) August 21, 2023 Read mor...

Binance has partnered with the KYC provider known as Liquid to reenter the Japanese market. Liquid offers a facial authentication tool for KYC purposes. It uses an AI-based image processing capability. It enables identity verifications that comply with the local Japanese KYC regulations. Biometric data gathering plays a key role in KYC procedures. However, it has been under the radar of the main regulators due to privacy concerns . Some projects, like Worldcoin, have been strongly criticized by different regulators worldwide regarding gathering biometric data. You might also like: Worldcoin data collection investigated by French privacy regulator Takeshi Chino, general manager for Binance Japan, reassures that Binance took all the necessary safety measures. “Binance’s robust KYC framework plays a critical role in protecting the platform, users and community, and the entire ecosystem from potential threats.” Takeshi Chino, general manager for Binance ...

BNB Token To Debut In Japan The cryptocurrency behemoth’s “Build and Build ( BNB )” exchange token, a native token of the BNB chain with broad usage on the Binance exchange, will launch in the Japanese market. The creation of this coin demonstrates Binance ’s strategic goal to target seasoned users. advertisement A variety of decentralized finance (DeFi) and Web 3-based blockchain-based game stocks, such as Solana (SOL), Aster (ASTR), Avalanche (AVAX), Jasmy (JASMY), and Axie (AXS), will be included in the cryptocurrency choices on sale. Domestic unlisted concerns that are not already managed by other exchanges are still being considered, despite not being included in the most recent notification. Binance Japan will not allow leveraged trading, which often entails using margins to purchase and sell assets repeatedly. This is a divergence from several of its rivals. Binance would need to meet stringent requirements to obtain a “Ty...

Also Read: Alex Mashinsky Arrested As US SEC, DOJ, CFTC And FTC Filed Lawsuits Against Celsius Network advertisement Amid speculation of turmoil, Christie penned down his remarks explaining the personal reasons that drove him to take a break from his job. More importantly, the former SVP had good words to say about the company’s compliance program. The world’s top Crypto exchange is fighting several legal battles including from the United States Commodities Futures Trading Commission (CFTC) as well as the US Securities and Exchange Commission (SEC). Eleanor Hughes, The New Binance General Counsel Hughes, who has over 15 years of legal experience, has been part of Binance ’s legal team since November 2021. In her new role, Hughes is set to lead a team of 85 lawyers and work closely with the company’s Compliance team, the exchange said in a statement. Binance CEO CZ stated on the ocassion that Hughes “has grown to be a trust...

Binance hopes to enable smooth BTC deposits and withdrawals while tackling network congestion issues. On June 20, cryptocurrency exchange Binance announced that it had commenced operating nodes on the Bitcoin Lightning Network as a crucial step toward integrating it for deposits and withdrawals. In a tweet, Binance acknowledged users who noticed their new Lightning nodes and confirmed their presence. However, Binance highlighted that additional technical work must be completed before the Lightning integration is fully implemented, promising to provide updates along the way. #Binance is working to integrate the #Bitcoin Lightning Network for deposits and withdrawals. Some eagle-eyed users spotted our new lightning nodes recently. Yes - that's us! However, there's still more tech work to be done. We'll update once Lightning is fully integrated. https://t.co/N0oN8561sN — Binance (@binance) June 20, 2023 In response to the congestion witnessed on the Bitcoin (BTC) network...

Troubles for crypto exchange Binance continue to mount as it exits from the Netherlands and Cyprus markets amid regulatory challenges and uncertainty. advertisement Binance Withdraws UK Registration With the FCA According to the UK Financial Conduct Authority (FCA), Binance’s request to deregister Binance Markets Limited was completed on May 30. Now, no other Binance entity holds any authorization from the FCA to provide regulated services in the country. “Following the completion of the cancellation of permissions, the firm is no longer authorized by the FCA. No other entity in the Binance Group holds any form of UK authorization or registration to conduct regulated business in the UK.” Ilir Laro, Binance ’s sub-regional manager for growth in the UK and Europe, said the deregistration of Binance Markets Limited doesn’t impact Binance operations as it never offered any services and has no users. Recommended Arti...

Binance recently rebranded its custody arm, now called Ceffu, which launched in Singapore in November 2022. Amid various reports about Binance trying to revive its crypto licensing plans in Singapore, the crypto exchange has come out to set the record straight. Binance told Cointelegraph that Ceffu, its "independent institutional custody partner," is the one looking to apply for an institutional crypto custody license when Singapore’s central bank opens up applications. Singapore has established itself as a hub for crypto businesses owing to its flexible tax policies, access to diverse tech talent, and its convenient location that allows companies to operate smoothly within the region in Asian time zones.  The Monetary Authority of Singapore (MAS) is expected to open up the crypto custody licenses for institutions after relevant amendments to their Payment Services Act. Cointelegraph reached out to Ceffu to get their insights on the Singaporean crypto market and their upcom...

Crypto financial service Matrixport’s head of research believes regulators are not targeting all stablecoins with the regulatory crackdown on BUSD issuer Paxos. Crypto financial services Matrixport's head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves.  In a Feb. 14 analysis, Matrixport's Markus Thielen suggested that Paxos Trust Company, the issuer of the Binance USD (BUSD), may not have been stringent enough with its oversight of the token. He added that the issue "does not appear to be around stablecoins" in itself. "Paxos had violated its obligation to conduct tailored, periodic risk assessment and due diligence of Binance and Paxos-issued BUSD customers," Thielen argued. On Feb. 13, the New York Department of Financial Services (NYDFS) ordered Paxos to halt the issuance of BUSD "as a result of several unresolved issues related to Paxos’ oversight of its relationsh...

Screen actors and sports stars copped most of the backlash for 2022’s crypto endorsements, while soccer legends appear to have gotten away with it. Celebrities had a shaky year promoting crypto firms and projects throughout 2022.  Many found themselves named in lawsuits over their alleged promotion of since-failed projects, while others have been relentlessly mocked on social media for their involvement in the first place. From movie stars to television actors, sports stars to musicians, many celebrities may be regretting their endorsement deals last year, though that’s not to say that there haven’t been exceptions. Who got burned? In February last year, American comedian Larry David, who co-created the television series Seinfeld, appeared in a Super Bowl commercial for now-defunct crypto exchange FTX that encouraged users not to “miss out on the next big thing.” David has since been named in a class-action lawsuit that alleges that he, along with other celebrities, had promoted FTX t...