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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The United States Securities Exchange Commission’s (SEC) eleven Bitcoin ETF approvals, which took over a decade of efforts by fund managers to accomplish, have institutionalized Bitcoin, allowing digital assets to seep into investors’ portfolios in the US forever. With the two largest digital asset exchanges—Coinbase and Binance—still battling in court with the SEC, digital asset investors should beware that to protect investors, federal agencies SEC, Commodity Futures Trading Commission (CFTC), Financial Crimes Enforcement Network (FinCEN), Internal Revenue Service (IRS) and Office of Foreign Assets Control (OFAC) during 2023 ramped up legal enforcement efforts against world’s largest digital asset exchanges reaching a wide range of misconduct, that occurred in both US and foreign jurisdictions.   You might also like: ...

BingX, a leading global cryptocurrency exchange based in Singapore, has named Vivien Lin as its new Chief Product Officer in a Dec. 5 post. Alongside her role as CPO, Vivien Lin will serve as the Global Spokesperson for BingX, emphasizing transparent communication and strengthening the exchange’s ties with the global crypto community. Lin’s background in trading As stated in an official announcement made on the BingX website, Lin comes to the exchange with a wealth of experience in trading, product management, and market development, particularly in forex and equity derivative products, holding key positions at reputable institutions like Morgan Stanley, BNP Paribas, and Deutsche Bank. At the same time, the announcement states she also has extensive expertise working with crypto exchanges, focusing on financial products, risk management, and new product development.  In her new role, BingX states that Lin will help the firm work towards continuous breakthroughs, fosteri...

National Australia Bank is the latest bank to announce blocks on certain cryptocurrency exchanges, citing the high risk of scams. Another major bank in Australia has said it will block certain crypto currency platforms, citing high levels of scam risk in the industry. On July 17, National Australia Bank (NAB) announced a set of new measures to protect customers from fraud as part of its “bank-wide scam strategy.” Alongside halting millions in payments between March and July 2023, NAB will also introduce blocks on “some crypto currency platforms” to help protect customers from scams . NAB did not specify the names of the cryptocurrency exchanges expected to face blocks from the bank. NAB executive for group investigations and fraud Chris Sheehan only mentioned that the new blocks will affect “high-risk” platforms where “scams are more prevalent.” Sheehan stated: “These scammers are part of organized, transnational crime groups. Increasingly, we’re seeing them use cryptocurrency platfor...

Dutch investors now have access to a Bitcoin equities exchange-traded fund on the Euronext Amsterdam stock exchange. The Netherlands has welcomed a new equity exchange -traded (ETF) fund that will give investors exposure to a basket of Bitcoin (BTC)-related company stock s. French investment firm Melanion Capital’s Bitcoin Equities ETF began trading on the Euronext Amsterdam Stock Exchange on June 22, introducing an equities-based approach to investing in the Bitcoin ecosystem. The ETF is designed to track the Melanion Bitcoin Exposure Index, which is a custom basket of European and American stock s closely tied to BTC’s market price. The ETF is compliant to the European Commission’s Undertakings for the Collective Investment in Transferable Securities (UCITS) regulatory framework that is used for managing and trading mutual funds. UCITS funds allow investment firms to register and sell trading products across the European Union through the provision of regulatory and investor protec...

Court filings by crypto exchange Binance claim that Securities and Exchange Commission ( SEC ) chair Gary Gensler approached the firm in 2019 and served as an “informal advisor,” and therefore should be recused in the SEC ’s lawsuit. In 2019, Gensler wasn’t yet the SEC chair but taught at MIT. According to a letter from Binance’s counsel, he sat down for lunch in March of that year with chief Changpeng Zhao (CZ) in Japan. During this meeting, the firm claims the pair discussed Binance opening an exchange in the US. The letter claims that Gensler offered to serve as an informal advisor during this meeting. “Mr. Gensler should have been recused from any consideration in this matter based on this history and the prospect that Mr. Gensler may be a material fact witness,” Binance’s counsel wrote. “To date, the Staff has never confirmed whether Mr. Gensler has recused himself.” The letter further claimed that Gensler gave CZ a sneak peek of his planned testimony before t...

The collapse of FTX took people from the space by surprise. Given how well-established the crypto exchange was, its fall was quite unanticipated. The said event, almost single-handedly, managed to erode the trust of market participants with respect to centralized exchanges. To rekindle hope, platforms stared publishing their proof of reserves to ensure consumers that their assets were protected. In its basic essence, PoR is a vetting technique that makes sure that crypto on exchange s has some real backing. A PoR audit confirms that custodians are holding all of the money belonging to their clients. A plethora of exchange s including Binance, Bitfinex, Bitmex, Kraken, OKX have jumped onto the PoR bandwagon. WazirX Joins The PoR Club WazirX , India’s largest crypto exchange , recently made its wallet addresses and independent proof of reserves report public. The official tweet noted that the security and safety of user funds were WazirX ’s “top priority....