Crypto Exchange OKX to Exit Canada by June 2023
- Crypto exchange OKX noted that its decision to cease operations in Canada and exit the country was due to “new regulations”.
- New users will be unable to open accounts starting 24 March, while all other users have until 22 June to close trading positions and withdraw their crypto and fiat assets.
6 hours ago
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Judge Denies Government’s Request to Pause Voyager-Binance Deal
- A bankruptcy judge has denied the government’s request to halt the deal between Voyager and Binance, arguing that further delays would only harm customers.
- The government argued the deal should be amended, or struck down, because it seeks to effectively absolve Voyager and its staff of violations of tax or securities law.
March 16, 2023, 4:12 PM
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Binance to Suspend GBP Transactions in May
- Binance’s fiat banking partner, Skrill Limited, informed the exchange that it will no longer provide GBP on- and off-ramp to its customers starting 22 May.
- The owner of Skrill, Paysafe, said it decided to stop offering its embedded wallet solution to Binance due to the “challenging” regulatory environment in the U.K..
March 14, 2023, 11:47 AM
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Voyager Digital Receives Court Approval to Sale Assets to Binance.US
- Bankruptcy Judge Michael Wiles gave Voyager the permission to close its $1 billion deal with Binance.US, and issue repayment tokens to affected customers.
- Judge Wiles also rejected the SEC’s arguments that the deal could potentially violate U.S. securities laws, and criticized the regulator for attacking the sale without first concluding if it was illegal.
March 8, 2023, 11:41 AM
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Mar 6, 2023
Bybit Suspends USD Bank Transfers Due to Partner Outages
- The crypto exchange no longer accepts USD deposits via wire transfers, including SWIFT, but users can still fund purchases through their credit and debit cards.
- USD deposits can still be made through the Advcash Wallet, and Bybit is currently working on making USD withdrawals available through it as well.
Mar 2, 2023
Coinbase and Paxos Terminate Relationship With Silvergate Bank
- Both crypto exchange Coinbase and stablecoin issuer Paxos have stated that they will no longer accept or initiate U.S. dollar payments through Silvergate Bank.
- The two noted that cash transactions for institutional clients will now be carried out through their other banking partners, and that the move had no impact on pound and euro payments.
Mar 2, 2023
Binance’s Custody Arm to Apply for License in Singapore
- The now rebranded custody arm of crypto exchange Binance, called Ceffu, is planning to apply for a Capital Markets Service license with the Monetary Authority of Singapore.
- If it is able to acquire the license, Ceffy plans to offer custodial services to only institutional and high net-worth individuals in Singapore.
Mar 1, 2023
97% of Voyager Customers Agree to Restructuring Plan With Binance.US
- 59,183 out of 61,300 Voyager account holders voted in favor of the restructuring plan that will see Binance.US acquire Voyager’s assets for a little over $1 billion.
- Voyager Digital is now expected to appear at a bankruptcy hearing on Thursday in order to seek court approval to proceed with the deal.
Feb 24, 2023
Coinbase Launches Testnet for its Base Layer-2 Network
- Coinbase has launched the testnet for its own layer-2 network Base, which was designed to be low-cost, open-source, and provide a developer-friendly environment.
- The exchange also revealed it will be joining Optimism as a core developer on the open-source “OP Stack”, which Base was built on top of.
Feb 22, 2023
Sam Bankman-Fried to Hire a Tech Expert to Advise Court on Bail Terms
- SBF’s defense is already looking into, and contacting possible independent technical experts to advise the court on his bail terms.
- The proposal for a technical advisor was made last week, when prosecutors asked for tighter bail conditions due to SBF’s use of VPN and encrypted messaging apps.