The clampdown in the US has brought a dose of self doubt to a whole ecosystem behind cryptocurrency and the blockchain idea at its core, in which transactions do away with middlemen, including governments and banks.
Earlier this month, Nigeria's markets regulator ordered Binance to halt its operations in the country, saying local unit "Binance Nigeria Limited" that courted Nigerian investors through a website was not registered or regulated, making it illegal.
In the days leading up to the failure, customers of Sam Bankman-Fried's crypto exchange withdrew billions of dollars, hobbling the firm's liquidity.
A rescue deal with rival exchange Binance also fell through, precipitating crypto's highest-profile collapse in recent years.
The Hong Kong Monetary Authority's (HKMA) comments were in response to a Financial Times report which said lenders including HSBC and Standard Chartered were facing pressure from Hong Kong's central bank to take on crypto exchanges as clients.
To protect themselves, institutional crypto investors are switching to exchanges that offer stronger asset protection, boosting due diligence on trading partners, and executing trades in smaller chunks, among other new risk management measures, according to executives and industry data.
Standard Chartered said it was in regular dialogue with regulators on different subjects, while HSBC said that it remained engaged on policies and developments in Hong Kong's nascent crypto industry.
Coinbase and Binance.US, two of the largest crypto exchanges by market share among those operating in America, have lost ground this year.
The former has fallen to about 51% as of June 18 from a high of 62% in January, while the latter has sunk to around 1.5% from 22% in March, according to data from Kaiko.
The SEC raised the same concerns with Nasdaq over a recent filing for a spot bitcoin ETF from BlackRock, the person said. The refreshed filing aims to address concerns raised by the U.S.
Securities and Exchange Commission (SEC), which told Cboe that its recent filing to list and trade a spot bitcoin ETF from Fidelity was unclear and incomplete, click according to a person familiar with the matter.
Binance Coin has expanded past merely facilitating trades on Binance's exchange platform.
The Binance platform includes the Binance smart chain, Binance chain, Binance academy, Trust wallet, and research projects. Binance Coin -
Binance is the largest crypto exchange and it has native token binance coin BNB.
The Boston-based financial firm is also part of a consortium that includes market makers Citadel Securities and Virtu Financial, retail broker Charles Schwab, and venture capital firms Paradigm and Sequoia Capital, which recently launched a crypto exchange called EDX Markets.
Justin d'Anethan, head of business development in Asia at Keyrock, a digital assets market maker in Hong Kong, said finding that XRP tokens sold on public crypto exchanges were not securities under law "probably serves as a precedent".
Since then, the digital asset market has seen a high-profile bankruptcy of crypto exchange FTX and lawsuits from the U.S.
securities regulator against Binance and Coinbase Global.
If the SEC lawsuits are successful, they could transform the crypto market by successfully asserting the SEC's jurisdiction over the industry which for years has argued that tokens do not constitute securities and should not be regulated by the commission.
Revenue factors play a vital role in the growth of a business, and such a worthy revenue-filled Binance clone script is a boon for those who wish to start a crypto exchange similar to Binance.
The number of Binance clone script providers has also increased, over years. Make sure you choose suitable clone script providers who have good ratings, reviews, years of experience, portfolios, and the price they charge, as some charge a lot of money for the Binance clone script.
So choose a budget-friendly yet good-quality product providing clone script provider for the best start for your Binance-like crypto exchange business.
Hong Kong's push for banks to accept crypto clients comes at a time when countries such as the U.S.
are doubling down on crypto exchanges, with the U.S. affiliate of Binance halting dollar deposits last week after the Securities and Exchange Commission asked a court to freeze its assets. (Reporting by Rahat Sandhu, Nilutpal Timsina and Kanjyik Ghosh in Bengaluru; Additional reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi Aich, Sherry Jacob-Phillips and Nivedita Bhattacharjee)
Cryptoverse: Bitcoin bounces on BlackRock buzz
por Latosha Manson (18/07/2023)
The clampdown in the US has brought a dose of self doubt to a whole ecosystem behind cryptocurrency and the blockchain idea at its core, in which transactions do away with middlemen, including governments and banks.Earlier this month, Nigeria's markets regulator ordered Binance to halt its operations in the country, saying local unit "Binance Nigeria Limited" that courted Nigerian investors through a website was not registered or regulated, making it illegal.
In the days leading up to the failure, customers of Sam Bankman-Fried's crypto exchange withdrew billions of dollars, hobbling the firm's liquidity.
A rescue deal with rival exchange Binance also fell through, precipitating crypto's highest-profile collapse in recent years.
The Hong Kong Monetary Authority's (HKMA) comments were in response to a Financial Times report which said lenders including HSBC and Standard Chartered were facing pressure from Hong Kong's central bank to take on crypto exchanges as clients.
To protect themselves, institutional crypto investors are switching to exchanges that offer stronger asset protection, boosting due diligence on trading partners, and executing trades in smaller chunks, among other new risk management measures, according to executives and industry data.
Standard Chartered said it was in regular dialogue with regulators on different subjects, while HSBC said that it remained engaged on policies and developments in Hong Kong's nascent crypto industry.
Coinbase and Binance.US, two of the largest crypto exchanges by market share among those operating in America, have lost ground this year.
The former has fallen to about 51% as of June 18 from a high of 62% in January, while the latter has sunk to around 1.5% from 22% in March, according to data from Kaiko.
The SEC raised the same concerns with Nasdaq over a recent filing for a spot bitcoin ETF from BlackRock, the person said. The refreshed filing aims to address concerns raised by the U.S.
Securities and Exchange Commission (SEC), which told Cboe that its recent filing to list and trade a spot bitcoin ETF from Fidelity was unclear and incomplete, click according to a person familiar with the matter.
Binance Coin has expanded past merely facilitating trades on Binance's exchange platform.
The Binance platform includes the Binance smart chain, Binance chain, Binance academy, Trust wallet, and research projects.
Binance Coin -
Binance is the largest crypto exchange and it has native token binance coin BNB.
The Boston-based financial firm is also part of a consortium that includes market makers Citadel Securities and Virtu Financial, retail broker Charles Schwab, and venture capital firms Paradigm and Sequoia Capital, which recently launched a crypto exchange called EDX Markets.
Justin d'Anethan, head of business development in Asia at Keyrock, a digital assets market maker in Hong Kong, said finding that XRP tokens sold on public crypto exchanges were not securities under law "probably serves as a precedent".
Since then, the digital asset market has seen a high-profile bankruptcy of crypto exchange FTX and lawsuits from the U.S.
securities regulator against Binance and Coinbase Global.
If the SEC lawsuits are successful, they could transform the crypto market by successfully asserting the SEC's jurisdiction over the industry which for years has argued that tokens do not constitute securities and should not be regulated by the commission.
Revenue factors play a vital role in the growth of a business, and such a worthy revenue-filled Binance clone script is a boon for those who wish to start a crypto exchange similar to Binance.
The number of Binance clone script providers has also increased, over years. Make sure you choose suitable clone script providers who have good ratings, reviews, years of experience, portfolios, and the price they charge, as some charge a lot of money for the Binance clone script.
So choose a budget-friendly yet good-quality product providing clone script provider for the best start for your Binance-like crypto exchange business.
Hong Kong's push for banks to accept crypto clients comes at a time when countries such as the U.S.
are doubling down on crypto exchanges, with the U.S. affiliate of Binance halting dollar deposits last week after the Securities and Exchange Commission asked a court to freeze its assets. (Reporting by Rahat Sandhu, Nilutpal Timsina and Kanjyik Ghosh in Bengaluru; Additional reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi Aich, Sherry Jacob-Phillips and Nivedita Bhattacharjee)