Skip to main content

Posts

South Korea Fines Bithumb $136K for Overseas User Data Sharing

South Korea’s Personal Information Protection Commission (PIPC) has ordered cryptocurrency exchange Bithumb to pay a $136,000 fine after finding that the platform violated the country’s personal data protection rules by transferring user information overseas without obtaining separate consent. In a notice published Thursday, the regulator said the breach occurred during Bithumb’s processes for sharing order books and transferring virtual assets with overseas exchanges. The PIPC’s findings place additional compliance pressure on major South Korean trading venues as authorities tighten both privacy and financial-crime controls. Key takeaways The PIPC fined Bithumb $136,000 for transferring personal data abroad without separate consent during certain exchange-to-exchange operations. The regulator linked the violation to order book sharing and virtual asset transfers tied to overseas platforms. PIPC acknowledged that anti-money laundering (AML) needs can justify data provision, b...
Post a Comment
Read more
Recent posts

Bitcoin Falls to $58K as Elevated US PCE Boosts Rate Bets

Bitcoin slid to fresh 21-month lows Thursday at the Wall Street open, falling back toward the $58,000 area as a hotter-than-expected US inflation print rattled risk assets. The move underscored how tightly BTC trading has been tied to broader market volatility when macro data hits. According to TradingView data cited in the report, BTC/USD on Bitstamp dipped to $58,035—an area last seen in September 2024. The pressure intensified shortly after the release of the May Personal Consumption Expenditures (PCE) report, with equities swinging sharply at the open. Key takeaways BTC returned to levels last traded in September 2024, dropping to about $58,035 on Bitstamp during Thursday’s Wall Street open. US May PCE inflation came in at 4.1%, a three-year high for the year-over-year measure, contributing to fast, broad-market sell-offs. CoinGlass data cited in the coverage shows more than $600 million in liquidations across crypto within a single hour as BTC fell. Traders flagged potenti...
Post a Comment
Read more

Spark Moves $150M in Stablecoins to Uniswap to Boost Shared Liquidity

DeFi infrastructure provider Spark has initiated a major stablecoin liquidity deployment on Ethereum, moving roughly $150 million into two Uniswap v4 pools as part of a broader effort to standardize how stablecoin issuers access shared market-making liquidity. According to a Spark spokesperson speaking to Cointelegraph, the initial liquidity is live in two pools pairing Spark’s USDS with PayPal USD (PYUSD) and USDT, with USDS positioned as the foundation. Spark frames the rollout as one of the largest AMM liquidity migrations in DeFi and describes it as the first phase of what it calls the “Stablecoin FX Layer,” aimed at bootstrapping shared liquidity on Uniswap v4. Key takeaways Spark has deployed about $150 million in stablecoin liquidity across two Uniswap v4 pools on Ethereum, initially using USDS as the anchor asset. The rollout is intended to establish shared liquidity for stablecoin markets, reducing the need for each issuer to individually bootstrap separate liquidity netwo...
Post a Comment
Read more

SBI to Buy Bitbank in $289M Deal, Forming Japan’s Largest Crypto Exchange

Japan’s SBI Holdings has moved to fully take control of the Bitbank cryptocurrency exchange in a deal valued at 46.7 billion yen (about $289 million), building a larger, more consolidated crypto trading platform under one regulated umbrella. The agreement follows an initial announcement made in May, which positioned the combination as a potential scale-up into the country’s largest crypto exchange. On Thursday, SBI said its wholly owned subsidiary, SBICAH, will acquire Bitbank shares from Bitbank CEO Noriyuki Hirosue and other shareholders, then participate in a third-party share allotment. After that, Bitbank will buy back shares currently held by MIXI and Ceres, leaving SBI with 100% indirect ownership. SBI expects the transaction to close around October, subject to regulatory approval. Key takeaways SBI will pay 46.7 billion yen to gain full indirect control of Bitbank, aiming to accelerate its position in Japan’s regulated exchange market. The restructuring plan includes a thir...
Post a Comment
Read more

Binance to limit EU services from July 1 under MiCA rules

Binance has informed European Union users that it will restrict access to certain services after a MiCA-related authorization deadline of July 1. According to user-shared notices attributed to the exchange, Binance will limit onboarding for EU customers and reduce the range of services available to EU-based accounts from that date, while directing users to ensure their assets can be withdrawn in accordance with applicable requirements. The transition follows Binance’s earlier decision to withdraw a MiCA license application in Greece, underscoring how the EU’s Markets in Crypto-Assets (MiCA) framework is forcing operators to reassess their regional compliance status and service models. Cointelegraph reported on Binance’s MiCA license withdrawal ahead of this development, while the exchange did not respond to Cointelegraph for comment before publication. Key takeaways Binance says it will restrict onboarding and certain services for EU users effective July 1 due to lack of MiCA authori...
Post a Comment
Read more

Noah and Bron integrate stablecoin on and off-ramps for self-custody

Partnership targets a key adoption gap: connecting on-chain custody with funding rails On-chain self-custody remains one of crypto’s defining value propositions, but it often runs into a practical problem: getting funds in and out smoothly. This is the gap a new partnership between stablecoin infrastructure provider Noah and self-custody wallet startup Bron is attempting to narrow. Both companies announced they are integrating Noah’s stablecoin on- and off-ramp capabilities into the user experience around Bron’s non-custodial wallet. The goal, according to the companies, is to make it easier for users to fund their self-custody wallets with stablecoins and to withdraw back when needed, while keeping the wallet’s security model intact. Noah brings stablecoin rails, Bron focuses on MPC security Noah describes its role as payments infrastructure for fintechs, exchanges, marketplaces, and other businesses operating across jurisdictions. The company says its platform supports account issuan...
Post a Comment
Read more

Binance to hit EU service limits as MiCA rules activate next week

Binance has informed European Union users that access to several services will be tightened after the exchange failed to obtain Markets in Crypto-Assets (MiCA) authorization from an EU member state before a July 1 deadline. The change, according to notices circulated by users, centers on stopping onboarding for new EU customers and reducing service availability for EU-based accounts as of July 1. Importantly, Binance’s messages also emphasize that users will be able to withdraw their digital assets after the deadline. The notices frame the transition as an “orderly process” designed to minimize disruption, while the exchange proceeds with its MiCA rollout in Europe. Key takeaways Binance says it will halt onboarding new EU users and limit certain services for EU accounts effective July 1 after missing MiCA authorization timing. Users are told they can still withdraw “all digital assets” after the deadline, subject to applicable regulatory requirements. The company reportedly advi...
Post a Comment
Read more