HKbitEX, a subsidiary of Tykhe Capital, has been granted a Type 1 Regulated Activity License and a Type 7 Regulated Activity License for its virtual asset trading platform, becoming the first fully licensed digital finance group under the new licensing regime. This demonstrates HKbitEX’s commitment to regulatory compliance and investor protection. Hong Kong-based digital asset trading group HKbitEX has received provisional approval from the Hong Kong Securities and Futures Commission (SFC) for its virtual asset trading platform (VATP). Approvals include a Type 1 Regulated Activity License for trading securities and a Type 7 Regulated Activity License for providing automated trading…
Author: Crypto Flexs
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There is no shortage of innovation and technological advancements in the cryptocurrency space, and one project that continues to evolve is Ethereum, which has established itself as a cornerstone known for its flexibility, powerful smart contract capabilities, and vibrant ecosystem. Decentralized Application (DApp). But that success came with challenges. As the network grows in popularity, it faces significant obstacles related to scalability, transaction fees, and processing times. Enter BASE, a layer 2 (L2) scaling solution poised to revolutionize Ethereum by addressing these challenges head-on. This article details how BASE improves the performance of Ethereum, ensuring it remains at the forefront…
Indonesian regulators have announced new rules that could potentially impact cryptocurrency assets in the country. According to local reports, companies will be required to introduce their products into the regulatory sandbox of the Financial Services Authority (OJK). Cryptocurrency assets to be tested in regulatory sandboxes According to a local report by news outlet DetikFinance, new regulatory rules were announced by OJK this week. The rules aim to “promote the development of technological innovation in the financial sector” and protect users from losses and “fraudulent investments.” OJK’s new law requires financial services institutions (FSIs) to enter new products and services into…
Offshore exchange OKX has moved its U.S. compliance team to a top priority within the organization. Now the department has priority in all its work and is strategically adjustment This follows increased regulatory scrutiny of cryptocurrency exchanges for their anti-money laundering practices. OKX’s restructuring aligns with broader industry trends of increased compliance requirements from regulators. Amid growing concerns about the regulatory risks facing foreign exchanges, OKX recently removed USDT from its European services and teamed up with Tether to initiate an unprecedented USDT asset freeze. The platform’s global chief compliance officer also left his position earlier today after only six…
The latest developments highlight the ongoing inter-agency drama between the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The classification of major cryptocurrencies has become the focus of debate. The CFTC has once again confirmed its position that Ethereum (ETH) and several other cryptocurrencies should be classified as commodities. regulatory oversight In the broad digital asset industry Regulatory rift with SEC over classification of Bitcoin, Ethereum, and Litecoin The latest episode in this regulatory feud unfolded as the CFTC filed a lawsuit. complain Simultaneously with the unsealing of the cryptocurrency exchange KuCoin prosecution The U.S.…
Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, was sentenced to 25 years in prison by U.S. District Judge Lewis Kaplan in New York on Thursday. The sentencing comes after SBF was found guilty on seven counts of fraud and conspiracy last year following the dramatic collapse of FTX in November 2022. TLDR Former FTX CEO Sam Bankman-Fried (SBF) has been sentenced to 25 years in prison for fraud and conspiracy related to the collapse of cryptocurrency exchange FTX. The judge rejected the defense’s argument that the harm caused by SBF’s fraud was effectively “zero”, noting the lack…
Posted 1 minute ago In ~ Google now allows users to search wallet balances on the Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom blockchains. When you enter your wallet address, the search results will show you the remaining token balance in your wallet for each network and when the balance was last updated.“The balance shows only the native tokens of each network. The last updated timestamp shows the balance at the time of the last external transaction. Updates are not immediate,” Google noted in its search results.Earlier this month, Google Search results are starting to appear. Wallet balance for users…
Bullish (OP) prices are the best choice as broad market signals and investor actions are sending buy signals. The question is whether operating profit will still generate more profit than at the beginning of the year, or whether it will stop midway. Investor optimism is high The beginning of the month was bleak for price optimism, but altcoins have found their footing over the past few days. This is a result of increased participation by OP holders. This can be seen through the surge in active addresses, which has increased by more than 30% in the last 24 hours. Optimist…
The prices of two Solana (SOL)-based altcoins soared after Coinbase announced that they would soon be able to be traded on its platform. Tuesday, America’s leading cryptocurrency exchange Added Shadow Token (SHDW) and Neon EVM (NEON) have been added to the listing roadmap, informing customers that the company may soon add support for certain assets. Shadow Token is a cryptocurrency designed to ensure the sustainability and security of decentralized data storage infrastructure. It serves as the native token for the ShdwDrive network, a high-performance cloud storage platform. SHDW, the 241st cryptocurrency asset by market capitalization, is trading at $2.11 at…
Bitcoin price is rising above the $70,000 resistance level again. BTC appears to be preparing for a steady rise above the $71,500 resistance zone. Bitcoin price is rising above the $70,000 resistance zone. The price is trading above $70,500 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair (data feed from Kraken) shows an important bullish trendline forming with support at $70,200. A break above the $71,500 resistance could soon start a new rally. Bitcoin price gains strength again Bitcoin price found good support above the $69,000 resistance zone. BTC crossed the $70,000 resistance area and…