Saturday, October 19

Tag: Binance

Government: Government set to block 9 global crypto platforms in India
29Dec By adminNo Comments
Business

Government: Government set to block 9 global crypto platforms in India

NEW DELHI: The government is set to block Binance, Kucoin and Huobi, among other global virtual digital asset service providers in India for their failure to register under the Prevention of Money Laundering Act (PMLA).Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex are the other entities that are facing similar action.In March, VDA service providers were brought into the ambit of anti-money laundering framework and were mandated to register with the Financial Intelligence Unit (FIU) and comply with compliance requirements under PMLA, which relate to reporting and record-keeping.While the FIU has issued compliance show cause notices to the nine offshore entities, it has also written to the electronics and IT ministry to block the URLs of said outfits that are operating illega...
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Cristiano Ronaldo Sued For Promoting Binance, Say Reports: What Is the Issue?
29Nov By adminNo Comments
Business

Cristiano Ronaldo Sued For Promoting Binance, Say Reports: What Is the Issue?

Cristiano Ronaldo. (Screengrab)Cristiano Ronaldo 'promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance', as per class-action lawsuitFootball superstar Cristiano Ronaldo is facing a proposed class-action lawsuit in the US after plaintiffs claim they incurred financial losses from his promotion of the now-troubled crypto exchange Binance, according to reports.Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance”, said a filing to the US district court on November 27 in Florida, according to cointelegraph.com.In June last year, Binance signed a partnership with Cristiano Ronaldo for the promotion of non-fungible tokens (NFTs).Accor...
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Cryptocurrency: Changpeng Zhao, brawling titan of Binance, meets a sudden defeat
22Nov By adminNo Comments
Business

Cryptocurrency: Changpeng Zhao, brawling titan of Binance, meets a sudden defeat

Changpeng Zhao had long cultivated the image of the rugged pugilist of the cryptocurrencies world. When his rival Sam Bankman-Fried’s crypto empire collapsed a year ago, Zhao, or “CZ” as his fans call him, was in the middle of it all, yanking his money in a very public way and helping trigger the ultimately fatal run on the firms. Years earlier he claimed the company’s headquarters was wherever he happened to be, a thinly veiled salvo against regulators trying to nail down jurisdiction.And this March, when US regulators charged Zhao and his firm,Binance Holdings, with violating US securities laws, his on-line response was “4,” which is Zhao code for dismissing something as unworthy of his attention.On Tuesday, though, Zhao cut a very different image in a Seattle courtroom. Dressed in dark...
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Crypto giant Binance lays off more than 1,000 employees, says report
15Jul By adminNo Comments
Business

Crypto giant Binance lays off more than 1,000 employees, says report

Crypto giant Binance has laid off more than 1,000 people in recent weeks in a continuing exercise that could result in the exchange losing more than a third of its staff, the Wall Street Journal reported on Friday, citing a person familiar with the moves. Last week, a string of executives also quit Binance, which included its Chief Strategy Officer Patrick Hillmann. US regulators last month sued the crypto exchange and its CEO Changpeng Zhao for allegedly operating a "web of deception." Binance has said it would defend itself "vigorously." More employees were laid off this week, according to former employees, who said customer-service workers were heavily affected.  The cuts were global, including about three dozen customer-service employees in India, the repor...
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