Tag: kraken

Binance, Kucoin to Huobi, FIU wants MeiTY to block URLs of 9 offshore cryptocurrency platforms
28Dec By adminNo Comments
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...
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What Is Crypto Staking and Why Is the SEC Cracking Down?
13Feb By adminNo Comments
Technology

What Is Crypto Staking and Why Is the SEC Cracking Down?

[ad_1] In the latest of a string of actions brought by the US Securities and Exchange Commission, the crypto exchange Kraken agreed to pay $30 million to settle allegations that it broke the agency's rules by offering a service that allowed investors to earn rewards by “staking” their coins. The SEC is pushing to bring crypto operators within the US under the same regulatory framework that governs the sale of all sorts of securities — to treat the tokens much like stocks and bonds. What's different from other crackdown efforts is that staking is a central feature of many blockchains such as Ethereum and key to potentially switching other cryptocurrencies away from a system that requires vast amounts of electricity. 1. What is staking? It's depositing Ether or other cryptocurrencies for...
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Crypto’s $2 Trillion Wipeout Is Coming for the C-Suite
21Oct By adminNo Comments
Technology

Crypto’s $2 Trillion Wipeout Is Coming for the C-Suite

[ad_1] After a period of tumult that is still shaking crypto companies to the core, a wave of management turnover is now sweeping across the industry. The convulsions that set the cryptocurrency market tumbling earlier this year and delivered shock waves through the industry have subsided. Now comes the shakeup in the C-suite. More than two dozen high-ranking executives — from Alex Mashinsky, the charismatic and controversial co-founder of now-bankrupt crypto lender Celsius Network to Brett Harrison of digital-asset exchange FTX US and Jesse Powell, the outspoken head of FTX's rival Kraken — have vacated their posts in the past two months alone. While an assortment of idiosyncratic reasons has been given for the exodus, it's clear the turbulence that shook the market starting in ...
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Crypto Agitator Jesse Powell Steps Down as CEO of Kraken
22Sep By adminNo Comments
Technology

Crypto Agitator Jesse Powell Steps Down as CEO of Kraken

[ad_1] Powell, the often controversial co-founder of the cryptocurrency exchange,  will be succeeded by COO Dave Ripley and take the role of chairman. Jesse Powell, the outspoken and often controversial co-founder of the Kraken cryptocurrency exchange, said he's stepping down as chief executive officer to spend more time on the company's products and broader industry advocacy. Powell, 42, who is being succeeded by Chief Operating Officer Dave Ripley, 45, will become chairman of the board. The transition is expected to take place over the next few months once a new COO is selected. “As the company has gotten bigger, it's just gotten to be more draining on me, less fun,” Powell said in a video interview on Tuesday. “I stil...
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