Exchanges

The recent scandal involving Paxful Inc. co-founder Artur Schaback pleading guilty to conspiracy charges related to the failure to maintain an effective anti-money laundering (AML) program has sent shockwaves through the financial industry. The Department of Justice revealed that Schaback’s negligence turned Paxful into a haven for criminal activities such as money laundering, fraud, and
0 Comments
Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria (CBN), recently accused Binance of engaging in activities reserved for authorized banks and financial institutions. This accusation was made during his testimony in a lawsuit filed by the Economic and Financial Crimes Commission (EFCC) against Binance and its executive, Tigran Gambaryan. Akinwumi’s testimony highlighted
0 Comments
The European Banking Authority (EBA) has recently updated its Travel Rule guidelines to include crypto service providers and intermediaries. This update, outlined in the EU-2023/1113 regulations, requires crypto exchanges in the European Union to adhere to the Travel Rule guidelines starting December 30, 2024. The rule mandates that exchanges report information on funds and crypto
0 Comments
Kraken founder Jesse Powell made headlines when he announced a $1 million donation, predominantly in Ethereum, to support former US President Donald Trump’s re-election bid. Powell justified his donation by stating that it was intended to help the US maintain its leadership in blockchain technology. He expressed his excitement about backing the “only pro-crypto major
0 Comments
A recent development in the legal battle between the US Securities and Exchange Commission (SEC) and Kraken, a popular cryptocurrency exchange, has seen a federal judge in California leaning towards allowing the lawsuit to proceed. Judge William Orrick expressed his inclination to deny Kraken’s request for dismissal during a recent hearing. The judge stated that
0 Comments