Threat of Nested Exchanges and What Binance Is Doing to Combat Them
Nested exchanges are becoming a popular tool for money launderers. Learn all about nested exchanges/services and what we’re doing to combat them as well as how to avoid them and why accounts get blocked or frozen because of them. Main Takeaways: A nested exchange provides crypto trading services through an account or wallet on an existing host exchange. Nested exchanges are attractive crypto platforms for money launderers looking to bypass KYC and AML requirements. In this article, you’ll learn how to avoid nested exchanges, the common....
Related News
Binance, one of the largest cryptocurrency exchanges, faces mounting challenges as it navigates a complex legal landscape with the US Department of Justice (DOJ). According to a report by The Wall Street Journal, Binance’s empire is “under threat,” leading to significant consequences for the crypto industry as a whole. Related Reading: Taiwan Rolls Out 10-Point […]
The CEO of cryptocurrency exchange Binance does not see central bank digital currencies (CBDCs) as a threat to cryptocurrencies, like bitcoin and ether. “It will validate the blockchain concept so that anybody who still has concerns about the technology will say: ‘Ok, our government is using the technology now,'” he opined.
CZ Sees No Threat to Crypto Coming From CBDCs
Binance CEO Changpeng Zhao (CZ) said Wednesday that he believes central bank digital currencies (CBDCs) are not a threat to cryptocurrencies, like bitcoin (BTC) and ether (ETH), Reuters....
Crypto exchange Binance is the largest exchange in the world and one of the most widely used exchanges in Africa. It has found a market of loyal users in the Nigerian youth who have turned to crypto to combat growing unemployment and inflation rates in the country. Given this, the crypto exchange has founded a […]
The U.S. Department of Justice (DOJ) has established the nationwide Digital Asset Coordinator Network of over 150 federal prosecutors. The authority explained that the new network will further its “efforts to combat the growing threat posed by the illicit use of digital assets to the American public.”
US Government’s Digital Asset Coordinator Network
The U.S. Department of Justice (DOJ) announced Friday that its Criminal Division has established the nationwide Digital Asset Coordinator (DAC) Network.
The Justice Department noted that the DAC....
A House committee has sent letters to four U.S. federal agencies and five cryptocurrency exchanges asking for information about what they are doing to combat cryptocurrency fraud and scams.
Congress Questions Regulators and Crypto Exchanges
The House Committee on Oversight and Reform sent letters to four U.S. federal agencies and five crypto exchanges on Tuesday in an effort to crack down on crypto-related fraud and scams.
The four agencies are the Department of the Treasury, the Federal Trade Commission (FTC), the Commodity Futures Trading Commission (CFTC), and the....