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Binance has temporarily suspended all spot trading, deposits and withdrawals on the world’s largest crypto exchange citing an “issue” that it’s working to resolve. “Initial analysis indicates matching engine encountered a bug on a trailing stop order (a weird one),” Binance founder and chief executive Changpeng Zhao said in a tweet, adding that the firm […]
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India’s Enforcement Directorate is investigating “several” crypto cases for money-laundering schemes and has seized $115.5 million to date in such crimes, the Ministry of Finance said, the latest in a series of crackdown by the authorities on the nascent space that is already reeling from the tremulous market conditions. The Indian crime fighting agency has […]
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Binance, the world’s largest crypto exchange, expects to pay monetary penalties to settle probes into its business in the U.S., a top executive said, in a major about-face after publicly disputing the idea that it was under any investigation and mocking media outlets that reported otherwise. In an apparent admission of breaking laws, Binance chief […]
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Binance will stop offerings its wallet and other tech services that it provided to WazirX, escalating tension with the Indian crypto exchange that it once sought to acquire. The world’s largest crypto exchange cautioned on Friday that Zanmai, the firm that operates the WazirX exchange, has not fully withdrawn assets stored in the Binance wallets […]
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Reliance Retail, India’s largest retail chain, will start accepting retail payments in digital rupee in a move that could supercharge the adoption of the country’s recently launched CBDC. The Mukesh Ambani-led firm said it has partnered with ICICI Bank, Kotak Mahindra Bank and Innoviti Technologies to launch the in-store support for digital rupee. Customers who […]
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Crypto exchange Crypto.com is cutting its global workforce by 20%, it said on Friday, as it navigates ongoing economic headwinds and “unforeseeable” industry events. This is the second major layoff at the Singapore-headquartered Crypto.com, which cut 250 jobs in mid-last year — though a report suggested that more than 2,000 people were either let go […]
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Coinbase plans to cut 950 jobs, or about 20% of its workforce, and shut down several projects as the U.S. crypto exchange giant looks to reduce its expenses to increase its “chances of doing well in every scenario.” This is the second round of major layoff at the crypto exchange, which eliminated 18% of its […]
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India’s tax rules on crypto, which went into effect last April, has resulted in local exchanges ceding the lion’s share of the market to those operated by foreign players, according to a new report. Binance, Coinbase and other foreign exchanges commanded 67.6% of the crypto market share in India as of October 2022, up from […]
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India said on Thursday that under its ongoing G20 presidency, it will prioritize the development of a framework for global regulation of unbacked crypto assets, stablecoins and decentralized finance and will explore the “possibility of [their] prohibition” in a potentially large setback for the nascent industry. India began its year-long presidency of the Group 20 […]
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The Indian central bank’s governor said on Wednesday that it’s not at war with crypto, but asserted that cryptocurrencies have no underlying fundamentals and their usage should be prohibited. RBI Governor Shaktikanta Das told a room packed with banking executives and lawmakers that crypto has a huge inherent risk to the macroeconomic and stability of […]
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