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Bhutan recently launched its first crypto use case by allowing payments through Binance Pay to attract tourists. The government believes enabling crypto tourism would also be a boon for the small and medium enterprises
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Teng was in Bhutan to promote the collaboration of its ministry of tourism and crypto wallet Binance Pay as the eastern Himalayan country’s first national crypto tourism payment system
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Binance is deepening ties with the Trump family to ease US oversight, list a Trump-backed stablecoin, and seek a pardon for its founder, raising concerns of political favouritism in crypto regulation.
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Over the past few weeks, many crypto investors received income tax notices for non-payment of taxes on peer-to-peer (P2P) trades through foreign exchanges. A Binance spokesperson told Moneycontrol that the exchange has been closely monitoring and reporting suspicious trades to FIU-Ind.
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Binance's billionaire founder Changpeng Zhao has been pushing for the Trump administration to grant him a pardon, the report added citing people familiar with the matter
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The exchange said the investment was made in stablecoin - a type of cryptocurrency pegged to a fiat currency such as the dollar - without naming a particular coin
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Binance is assisting WazirX track their stolen funds, head of regional markets Vishal Sacheendran has said
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Sacheendran also shared that while the talks for bailing out hacked exchange WazirX are still on, a takeover by Binance is unlikely
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After a tumultuous year, including the WazirX cyber attack, the crypto industry will be closely tracking the budget even as bitcoin crossed $100,000 in 2024
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Bitcoin Crosses $100,000: Bitcoin has stormed past the $100,000 mark, marking a historic milestone fuelled by a mix of political and economic developments in the United States. The cryptocurrency‘s recent rally comes amid growing institutional confidence and a pro-crypto policy shift under the leadership of US President-Elect Donald Trump.
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Never owned, controlled or operated WazirX during or after hack: Binance said in a statement
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Hacked crypto exchange WazirX’s restructuring plans depend on the resolution of the muddled ownership dispute with Binance.
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WazirX’s users are unlikely to get full recovery of their crypto portfolio immediately after restructuring. The exchange is also exploring additional options to return more funds to the users.
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“Three NDAs have been signed to date with prominent cryptocurrency exchanges with user bases in the range of 12 – 100 million users and between around $5 million and approximately $1.5 billion in daily trade volume,” CEO Nischal Shetty said.
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World’s largest crypto exchange Binance gets registered with FIU-IND, calls it its “19th global regulatory milestone."
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Earlier in an interview with Moneycontrol, founder and CEO Nischal Shetty had said that the multisig wallet that got hacked on July 18 required four people to sign in to unlock – including three from WazirX’s end and one from Liminal’s end.
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“I think the case that happened in WazirX was very unfortunate. People don't like to keep 50 percent (in one wallet) because you don't put all the eggs in one basket,” CoinDCX CEO Sumit Gupta told Moneycontrol.
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Last week in an interview with Moneycontrol, WazirX’s founder and CEO Nischal Shetty had shared that he is in talks with most major global exchanges for support and to look for a potential buyer.
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Following the $230-million security breach in one of its multisig wallets and losing 45% of its holding assets, WazirX’s founder and CEO Shetty is in talks with global peers for support or finding a potential buyer.
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As of July 18, Binance held WRX tokens worth around $80 million
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The government has been in talks with the Indian crypto industry and has taken measures in the past months to meet some of their demands.
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The regulator also accused Binance of unlawfully facilitating trading of several crypto tokens the SEC deemed unregistered securities.
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Gupta’s comments follow the recent Rs 18.82 crore fine imposed on Binance by the Financial Intelligence Unit in India (FIU-IND), for not following local anti-money laundering laws while serving Indian users.
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With the Web3 mode, users will have access to emerging and pre-launch tokens from large and developing ecosystems such as Base, Solana, Binance Smart Chain, Polygon, and 10 more chains. The Web3 mode also facilitates easy access to Web3 with a straightforward INR on-ramp.
