crypto exchanges

Shielding Your Crypto Fortress: Defending Against the Rise of Fake Crypto Exchanges As the popularity of cryptocurrencies continues to soar, so does the threat of fraudulent activities, particularly from fake crypto exchanges. In this article, we’ll explore the alarming rise of these deceptive platforms, the tactics employed by scammers, and most importantly, effective strategies to safeguard your digital assets in the dynamic and sometimes treacherous landscape of the crypto world. Understanding the Threat:…

Unlocking possibilities: Navigating the crypto-friendly landscape with the top 10 banks in Canada If you are a Canadian who wants to invest in cryptocurrencies, you might wonder which banks are willing to support your crypto endeavors. Not all banks are crypto-friendly, and some might even block or limit your transactions with crypto exchanges or platforms. Therefore, it is important to find a bank that is compatible with your crypto needs and preferences. 1. Toronto-Dominion (TD): TD is one of the most…

Binance, the world's biggest cryptocurrency exchange, and Binance.US have entered into an agreement with the U.S. Securities and Exchange Commission to ensure that U.S. customer assets remain in the United States until a sweeping lawsuit filed this month by the regulatory agency is resolved.The agreement, disclosed in court papers filed late on Friday, still requires the approval of the federal judge overseeing the litigation. To make certain that U.S. customer assets do not go offshore, the agreement allows only…

Before a new breed of cryptocurrency detectives helped bring him down, Ryan Felton marketed his crypto scheme with a grandiose promise: He was creating "Netflix on the blockchain."He called the crypto-themed streaming service FLiK. For a small amount of the popular digital currency ether, customers could purchase a FLiK token, which would give them access to shows and movies broadcast on the new platform. Felton described the project as an "entertainment revolution"; crypto enthusiasts bought more than $2 million worth of…

All cryptocurrency exchanges and providers of services related to virtual digital assets (VDAs) would have to determine the true ‘beneficial owners’ of wallets where VDAs are stored, report all VDA receipts worth Rs 10 lakh or more by NGOs and non-profits, and terminate business relationship with ‘politically exposed persons’ if there are hurdles in carrying out ‘enhanced due diligence’ of such dodgy customers.The service providers must also refrain from alerting or ‘tipping off’ clients about possible suspicious…

The US Securities and Exchange Commission (SEC) met to open public comment again on its proposal to expand the definition of an "exchange," clarifying that its existing rules on exchanges also apply to decentralised cryptocurrency platforms. The SEC voted 3-2 to take additional comments from the public after crypto firms criticised the plan as vague and aimed at roping in decentralised finance platforms, also known as DeFi platforms that would otherwise not be subject to the regulator's oversight.DeFi-platforms allow…

Cryptocurrency exchange Binance has paused deposits and withdrawals on its platform due to issues affecting its spot trading, its Chief Executive Changpeng Zhao said in a tweet on Friday."Initial analysis indicates matching engine encountered a bug on a trailing stop order," he said in a tweet, adding that the pause was a standard operating procedure. Last week, Binance said it will be halting its sterling deposits and withdrawals, a month after the world's largest crypto exchange ceased dollar transfers. Reuters has…

India's money laundering laws will apply to trade in cryptocurrencies, the federal government said in a notification dated March 7.The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under money laundering laws, the notification said.The safekeeping or administration of virtual digital assets and the participation in financial services related to the offer and sale of virtual digital assets will…

Fake cryptocurrency exchanges have duped Indian investors of more than $128 million (nearly Rs 1,000 crore) as the global crypto market tanks, a new report claimed on Tuesday.Cyber-security company CloudSEK said it has uncovered an ongoing operation involving several phishing domains and Android-based fake crypto applications."This large-scale campaign entices unwary individuals into a huge gambling scam. Many of these bogus websites impersonate "CoinEgg", a legitimate UK-based cryptocurrency trading platform," according…