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Binance, Kucoin to Huobi, FIU wants MeiTY to block URLs of 9 offshore cryptocurrency platforms

28Dec

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Technology

Binance, Kucoin to Huobi, FIU wants MeiTY to block URLs of 9 offshore cryptocurrency platforms

[ad_1] In what may turn into a massive blow for cryptocurrency sector in India, Centre's Financial Intelligence Unit (FIU), which is under the Finance Ministry, has issued show cause notices to as many as 9 offshore cryptocurrency and virtual digital assets platforms, including Binance and Kucoin. The notifications were issued for non-compliance with anti-money laundering law.Not just the notices, FIU has even taken the next step by writing to the Ministry of Electronics and Information Technology (MeiTY) to block the URLs of these nine entities that are operating illegally without complying with the provisions of the PML Act in India. Apart from Binance and Kucoin, the other virtual digital assets service providers (VDA SP) who have been issued notice for not registering as reporting e...

Google Cuts Add to Tech Wipeout That’s Claimed Over 100,000 Jobs

[ad_1] Alphabet Inc.'s plan to reduce headcount by more than 6% — about 12,000 roles — is adding to mass job cuts that are accelerating at technology companies around the world.The tech sector announced 97,171 job cuts in 2022, up 649% compared to the previous year, according to consulting firm Challenger, Gray & Christmas Inc. Disclosures about cuts at Google's parent company, Microsoft Corp., and Amazon.com Inc. have added another 30,000 positions in January.Big tech companies like these benefitted from a boom in e-commerce spending and remote work that kicked off during the Covid-19 pandemic lockdowns in 2020. Now, many of these businesses are reporting disappointing growth rates and dealing with sagging share prices as customer behavior returns to normal. Their leaders are sayi...

Crypto’s Justin Sun Says He Owns ‘Tens of Millions’ Huobi Tokens

[ad_1] Tron founder Justin Sun said he owns “tens of millions” of Huobi Tokens. Tron founder Justin Sun said he owns “tens of millions” of Huobi Tokens and that he intends to try and boost the latter now that he's an adviser to its linked crypto exchange. “I would see myself as one of the biggest holders” of Huobi Tokens in the world, Sun said in a Bloomberg Television interview with Emily Chang on Thursday. He added that he began accumulating the token associated with the Huobi crypto exchange in 2013. The coin has rallied about 80% in the last week after Sun became an adviser for the exchange. Huobi is a top-10 crypto exchange globally, according to tracker CoinMarketCap, with about $879.5 million in volume in the last 24 hours. Sun said he hasn't purchased a stake in the bus...