Tax authorities in Brazil recently received support to regulate the digital currency market after multiple reports of fraud emerged last year. Fraud allegations were reportedly tied to multiple platforms, including Zero10, Atlas Quantum, and Trader Group. Now, in February 2020, the results of such fraudulent actions caused a major crackdown.At least two exchanges have been shut down in Brazil due to threats of major fines under the new regulation...

Despite the recent cryptocurrency-related hearings, the situation regarding the future of digital currencies within the country of India remains uncertain. Even so, the global crypto exchange, OKEx, recently decided to make a move that will allow it to gain a foothold in the country.Yesterday, February 14th, OKEx announced that it has partnered with India’s own largest crypto exchange, CoinDCX. The goal of the partnership is the launch of a...

As crypto adoption continues to spread, and people from all nations across the world are using digital currencies, a lot of countries have moved to create tax rules even before drawing regulatory frameworks for the new asset class. Brazil is one such country, and its tax regulations were already implemented even before the dedicated legislation was officially adopted.Now, the new tax rules had hit not only its crypto users but also businesses suc...

FCoin, a Singapore-based cryptocurrency exchange, recently had an incident that the crypto community managed to notice, although nobody knew what it was about. At first, many believed that the exchange was hacked, which was not surprising, considering how many others have fallen to hackers in recent years. However, over time, the truth started to surface, and the situation ended up being significantly more complicated.The working theory right now...

Derivatives exchange FTX, and its CEO, Sam Bankman-Fried, have made quite a few headlines in the past few months, especially when Binance announced an investment into the platform. Now, the derivatives exchange’s CEO once again attracted attention by explaining the difference between US and Asian derivatives exchanges.In the recent episode of The Scoop, Bankman-Fried spoke about different derivatives exchanges in different regions. He stres...

Until now it was difficult to quantify what financial impact high-frequency traders impose on regular investors. On Monday, a study by the United Kingdom’s financial regulatory body, the Financial Conduct Authority, found regular investors worldwide lost $5 billion at the expense of traders with sophisticated trading technologies and algorithms. How It Is Possible High-frequency traders, or HFT for short, often have access to microwave ante...

According to new guidance published by the Canadian Securities Administrators (CSA), any digital exchange serving Canadians will have to abide by the country’s securities laws. This includes onshore and offshore exchanges alike.While at first, it may seem that this would only include businesses offering assets that Canadian regulator considers securities, the notice states that the same securities laws will apply to platforms that offer pur...

After praising blockchain technology for weeks, China suddenly reminded the world that it still does not have such a high opinion of cryptocurrencies. In fact, just as the country’s investors started thinking that crypto trading might be back, China started another crypto crackdown.Now, the crackdown started claiming some of its first victims, among which are at least five local crypto exchanges. The exchanges announced that they would shut...

London Stock Exchange Group’s (LON:LSE) share price has surged this Wednesday as Hong Kong Stock Exchange shocked the market with a tie-up proposal. The proposed cash-and-share deal values the FTSE 100 group at about £30 billion. As of 10:38 BST, LSE’s share price had gained 6.45 percent to 7,236.00p. The shares are outperforming the broader London market, with the benchmark FTSE 100 index currently standing 0.86 percent higher...

In a report published on the New York Attorney General’s website, Barbara D. Underwood, the New York Attorney General, attacked cryptocurrency exchanges reckoning that they do not have any workable procedures that ensure integrity, fairness, and security. Unlawfully acting exchanges? Based on the results of her report, Underwood accused three specific exchanges of possibly acting unlawfully in the state of New York, including...

The Financial Services Agency (FSA), Japan’s premier financial regulator, is on a mission to tighten the registration screening process for cryptocurrency exchanges. The Japanese government is no doubt a pioneer in the cryptocurrency space. Its constant efforts to introduce bitcoin and other cryptocurrencies in general to the masses are exemplary, but it also prioritises the protection of individuals, particularly from unscru...

Chinese regulators are now cracking the whip on foreign cryptocurrency exchanges and have moved in to block over 100 platforms from offering its trading services in the country. China has been on a constant uphill struggle to dissuade its citizens from participating in cryptocurrency trade, albeit with little success. However, its regulators are now taking this a notch higher if the recent move to block 124 foreign crypto exch...

Japan’s financial watchdog, the Financial Services Agency (FSA), has published the results of its on-site inspections of cryptocurrency exchange operators, CoinTelegraph Japan reported on August 10.

Bitcoin, Ether and XRP among the coins stolen during the June 20 hack

Today, Singapore’s central bank announced that it has issued 9 cryptocurrency exchanges with warnings over securities compliance issues. The main issue is ICO tokens being listed and traded as cryptocurrencies when in fact they are securities. An ICO was also ordered to halt its token sale.

The new organisation aims to restore confidence in the local crypto market

Digital currency exchanges will need to adopt measures to ‘mitigate and manage money laundering and terrorism financing risks’

The trading platforms have decided to withdraw their applications with the local financial watchdog

Investigation expected to begin next month

The companies are being investigated over possible embezzlement

The FSA issues temporary suspensions to two operators, orders five more to improve their businesses

Bitcoin sinks below $10,000, as most digital currencies suffer heavy losses

OKCoin’s official WeChat account has reportedly been blocked

The move is aimed at bolstering investor confidence in the wake of the Coincheck hack

Report in local media says move by local authorities aims to prevent potential money laundering, pyramid schemes from overseas platforms