Binance’s SEPA concerns
– Binance temporarily suspended SEPA transfers without providing a specific timeline for reinstatement.
– Users may need to provide additional personal details to ensure regulatory conformity.
Mounting allegations
– Binance faced scrutiny for allegations of market manipulation and sanctions violations.
– CEO Changpeng Zhao was accused of strategically selling Bitcoin to uphold the value of BNB.
– Allegations also claimed that Binance engaged with sanctioned entities in Russia.
Binance ends card services in LatAm and Middle East
– Binance halted its crypto debit card services in Latin America and the Middle East.
– Affected users can continue using their crypto debit cards until Sep. 21, 2023.
– Binance suggests using Binance Pay as an alternative for crypto payments.
Binance, Mastercard terminate partnership
– Binance and Mastercard ended their partnership, impacting the issuance of crypto cards to Binance customers in several countries.
– The termination does not affect Mastercard’s partnerships with other crypto firms.
Increased enforcement actions
– Individuals involved in crypto-related crimes faced prison sentences, including a SIM-swap hacker, an NFT insider trader, a steroid vendor, and a former government official involved in Bitcoin mining.
– The developers of Tornado Cash were charged with money laundering for allegedly facilitating transactions for North Korea’s Lazarus Group.
Escalating scams
– Friend.tech and crypto websites were targeted by phishing scams.
– Cybercriminals used Google Ads to redirect users to malicious phishing platforms.
Pepe team accused of insider trading
– The Pepe Coin faced allegations of insider trading and a substantial token heist.
– On-chain analyst Yazan made the accusations.
Hot Take
The crypto industry is facing increasing scrutiny and enforcement actions, with allegations of market manipulation, sanctions violations, and insider trading. Binance, in particular, has been at the center of controversy. As regulators ramp up their actions, it is crucial for individuals and companies in the crypto space to prioritize regulatory compliance and be vigilant against scams. The industry needs to build trust and transparency to ensure its long-term growth and stability.
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