Gensler And Clayton Call On Exchanges To Register With SEC

The current and former chairmen of the Securities and Exchange Commission show little partisan disagreement. Earlier today, Democrat chairman Gary Gensler and his Republican predecessor Jay Clayton called on exchanges to register with the commission. Both justify their actions by the motivation to protect investor concerns, as Gensler commonly puts it. Register Or Else, Say SEC Chiefs The SEC chiefs aired their thoughts during a Fireside chat at the Digital Asset Compliance & Market Integrity Summit on Wednesday. The event…

Imminent Funding Rounds for Two Large Crypto Exchanges

2021 has been a relatively good year for crypto. More people want to buy cryptocurrencies. Companies are also expanding quite well. Expansion tales are always good signs. They show that the market is growing and doing quite well. This week, two of the largest crypto exchanges are taking centre stage. Rumours have started to circulate that Binance US and the Gemini Exchange are raising funds. Both companies are reportedly finalizing their fundraising rounds, with both sure of securing the "unicorn" status.…

US Treasury Sanctions SUEX as Fight Against Ransomware Continues

On Tuesday 21st September, the US treasury announced that it would sanction the SUEX exchange. According to the treasury, SUEX took part in Ransomware activities.  The government has been fighting against such attacks for several years. However, its efforts have been futile due to the lack of international support. US Treasury Sanctions Crypto Exchanges In a public release, the US Treasury recently announced sanctions on SUEX. Comprehensively, the Office of Foreign Assets Control (OFAC) proposed the recent sanctions. The OFAC linked SUEX to eight…

Woes for Crypto Exchanges in South Korea as Countrywide Clampdown Looms

Crypto exchanges in South Korea could shut down by September 24, 2021. Regulators in the region plan to close trading platforms due to compliance issues. Failure to meet regulatory standards could attract losses worth 3 trillion Korean Won. The value is equivalent to $2.6 billion. Trading Platforms Prepare for Exit Today, local crypto exchanges struggle when trying to uphold guidelines set by the government. In most cases, traders need to reveal their personal information to perform trades in the exchanges. Doing that means…

Crypto Exchanges that Guarantee Investor’s Digital Currency Safety

Traditional financial institutions have set up insurance and other protections in place to keep your money safe. For digital currency exchanges, it's the opposite. Before you indulge in any crypto activity like buying or selling, you have to make sure you do it safely because it’s a relatively unregulated industry. Security is vital for any cryptocurrency user globally; no one wants to be a victim of theft. The Federal Trade Commission estimated that nearly 7,000 people lost more than $80…

Korean Government May Face Suits From Crypto Exchanges as Banning Fear Looms

The revised Act on Reporting and Use of Certain Financial Transaction Information could cause a shutdown of multiple cryptocurrency exchanges. The exchanges could sue the South Korean government under these circumstances. Each exchange must submit a document by Sep. 24 showing that a bank has given a real-name bank account according to the act. Cryptocurrency exchanges in South Korea, considered to have many coins on their trading platforms, are at risk of being denied access to personal bank accounts, a…

Strict Regulations on Crypto Spells Woes for Investors, Says US SEC Commissioner

One of the commissioners at the United States Securities and Exchanges Commission has warned against too strict rules on cryptocurrencies. She says that her colleague’s efforts to impose such regulations will give investors a tough time doing business in the US. Instead, Hester Pierce wants financial regulators to adapt accordingly to the growing cryptocurrency market cap. Mrs. Pierce said the idea that regulators have to grasp every tiny detail of financial aspects vastly discourages innovation. She continued to say,  “I…

The Best Exchanges for Fiat-Crypto Trades for Beginners

If you want to trade crypto, you will need to find a reliable and secure fiat-to-crypto trading platform. These exchanges differ from crypto-only platforms in their offerings, requirements, and, most importantly, their ability to convert fiat currency to crypto. To accomplish this task, fiat to crypto exchanges must adhere to strict regulatory requirements in most regions of the world. These requirements can make the signup process a bit more tedious, but it also increases your consumer protections. Today, fiat-to-crypto trading…

The Best Cryptocurrency Exchanges for Advanced Users – 2021 Edition

Trading cryptocurrencies isn’t easy. It takes research, skill, and determination to turn a profit. Additionally, it helps to use an exchange that offers features and services geared towards your trading class. Experienced traders seek out features that allow them to leverage their positions and increase their ROIs. Also, security is paramount when trading large amounts of crypto globally. It's no secret that the crypto market is on fire right now. Major investment firms and corporations such as Tesla have invested…

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