BITCOIN

Singapore-based cryptocurrency exchange Crypto.com announced that it intends to halt services for institutional traders in the United States on June 21, 2023. The exchange cited “limited demand” as the reason for suspending its institutional offering. Crypto.com to Cease U.S. Institutional Services on June 21 Crypto.com , the Singapore-based cryptocurrency exchange with 80 million customers worldwide, announced on Friday that it will cease its institutional offering in the United States. The exchange stated that it will close its U.S. institutional services on June 21 and emphasized that all institutional partners have been notified. The announcement, as seen by Bitcoin.com News, emphasized that Crypto.com’s retail clients need not worry, as the firm’s retail services are completely unaffected by the transition. Crypto.com cited “limited demand” in the country’s “current market landscape” as the reason for the move. The decision by Crypto.com comes in the wake of recent lawsuits fi

Businesses marketing crypto assets to U.K. consumers will have to abide by stricter advertising rules presented by the country’s financial watchdog. These include prohibiting ‘refer a friend’ bonuses for the industry as well as introducing a cooling-off period for first time investors. Regulator Clamps Down on Crypto Ads, Wants to Make Risks Clearer to British Buyers in Marketing The U.K.’s Financial Conduct Authority (FCA) announced on Thursday new regulations for the advertising of crypto assets to the public. Under the tougher rules, crypto firms must ensure that British investors have “appropriate knowledge and experience to invest in crypto” and are duly warned by promoters about associated risks. The measures include banning ‘refer a friend’ bonuses, a marketing policy quite popular in the crypto space. The FCA also requires companies advertising crypto assets to U.K. consumers to introduce a cooling-off period for first time investors from Oct. 8, 2023. The latter begins w

Binance US has informed its users that U.S. dollar deposits have been suspended and USD withdrawals will no longer be processed. The crypto exchange has asked customers to withdraw dollars by June 13 as it transitions into a crypto-only trading platform. The move followed a lawsuit against the crypto exchange and several other Binance entities by the U.S. Securities and Exchange Commission (SEC). Binance US Suspends Dollar Deposits, Withdrawals Binance US made an announcement Thursday regarding the suspension of U.S. dollar deposits and withdrawals following an “aggressive” enforcement action taken by the U.S. Securities and Exchange Commission (SEC). The securities watchdog filed charges against several entities on Monday, including Binance Holdings, which operates Binance.com; its U.S.-based affiliate BAM Trading Services, which operates Binance US; and Binance CEO Changpeng Zhao (CZ). The regulator followed up with an emergency action application the next day, seeking a tempora