Exchanges

New Guidelines Subject Canadian Crypto Exchanges to Securities Laws

</header> <strong>Canadian regulators have issued new guidance determining when current securities legislation applies to operations conducted by cryptocurrency exchanges. According to the clarifications in the document, many domestic and foreign entities serving Canadian users, for example those that provide custodial services, will have to abide by the country’s securities laws and act like securities dealers. …

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Crypto vs RBI: 3 Days of Intense Supreme Court Hearings

</header> <strong>India’s supreme court heard the crypto case in detail over three consecutive days this week. In addition to intense arguments against the central bank having the power to ban crypto, the judges learned how other countries regulate this new sector, the amended EU directive, the FATF guidance, and less invasive crypto measures.</strong> Also read: …

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New Stablecoins Commence a Fresh Assault on Tether

</header> <strong>Can any stablecoin topple tether? In 2019, the answer to that question was an emphatic ‘No.’ Despite a string of stablecoins being released onto the market, tether (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/USDT” target=”_blank” rel=”noopener noreferrer”>USDT</a>) increased its grip on the cryptoconomy’s fiat supply, racking up $127B of on-chain volume on Ethereum alone. This year, the king …

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Winklevoss-Led Gemini Exchange Now Has Its Own Insurance Company

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has created its own insurance company to protect clients against the potential loss of coins from its offline vaults – with a possibly record-breaking $200 million coverage limit. Announced Thursday, the new “captive” will provide insurance for customers of Gemini Custody, the crypto cold storage …

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Uzbekistan to Create National Mining Pool, Launch Licensed Exchange

</header> <strong>Establishing a “national mining pool” has been declared a priority in Uzbekistan. Miners who join the pool will enjoy lower electricity rates, announced the country’s agency overseeing the crypto industry. The Central Asian nation is also preparing to launch a licensed cryptocurrency exchange, where miners will be able to sell the coins they have …

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Kraken Acquires One of Australia’s Longest-Running Crypto Exchanges

U.S.-based Kraken announced its plans for expansion into the Asia-Pacific (APAC) region on Tuesday after acquiring one of Australia’s longest-running cryptocurrency exchanges, Bit Trade. Kraken is aiming to position itself as the premier cryptocurrency service within the region, identifying Australia as a key growth area for retail and institutional clients. The financial terms of the …

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Indian Supreme Court Hears In-Depth Arguments Against RBI Ban

</header> <strong>India’s supreme court spent all day hearing arguments against the crypto banking ban by the Reserve Bank of India (RBI) on Wednesday. The counsel for the Internet and Mobile Association of India presented extensive arguments to convince the court that the central bank acted outside its jurisdiction and power in placing a banking restriction …

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Kraken Acquires Australian Crypto Platform Bit Trade

</header> <strong>The global crypto exchanges industry continues to consolidate as some smaller players bow out and the big players try to gobble up as much as they can of the rest. As part of this trend, Kraken has now taken over the Australian platform Bit Trade in a bit to strengthen its foothold in the …

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Binance to Launch Korean Support Center Following Investment in Local Startup

Cryptocurrency exchange Binance has made its first direct investment in a South Korean startup. According to an exclusive report by CoinDesk Korea, Binance has taken a 500 million won ($432,000) stake in BxB, a Korean fintech firm that launched a Korean won stablecoin last year. Alongside the investment, the two firms have inked an agreement …

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Upbit Exchange Resumes Ether Services Months After $49M Hack

South Korea-based Upbit has restarted ether wallet services nearly two months after hackers made off with $49 million-worth of the cryptocurrency. The exchange recently announced that following an upgrade to its wallet security system, the platform is once more able to support ETH deposits and withdrawals. A tweet indicated that the services had become available …

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