Crypto Daily News from ZBG Exchange

1. Binance Pulls Out of Ontario Following Actions Against Other Crypto Exchanges

“Binance can no longer continue to service Ontario-based users,” the exchange said Friday.

Binance’s withdrawal follows publication of a Statement of Allegations last week against Bybit by the Ontario Securities Commission (OSC), which accused that crypto exchange of failing to comply with province regulations.

In the preceding 30 days, OSC had issued statements of allegations against two other crypto exchanges, Poloniex and KuCoin, claiming that they too failed to comply with Ontario regulations.

On March 29, the OSC warned crypto-asset trading platforms that to operate in the province they had to contact OSC staff or face potential regulatory action. Platforms were given until April 19 to discuss how to bring their operations into compliance.

It wasn’t clear whether Binance had reached out to the OSC. A company representative said Binance doesn’t comment on specific matters regarding regulators.

“We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion,” he said.

The company has advised Ontario-based users to close out all active positions and that they have until the end of the year to withdraw their funds, according to the representative.

Regardless of the exact circumstances, the world where Binance is welcome to do business has grown a little smaller as of late. On Saturday, a U.K. financial watchdog issued a warning that Binance isn’t authorized to operate there while on Friday, Japan’s securities regulator issued a similar statement.

2. Bitcoin Investors Sit on Sidelines ‘Licking Their Wounds’ Despite 15% Bounce on Weekend

The absence of strong trading volumes points to a lack of institutional and retail interest, according to one expert.

Prices Monday were slightly higher, with one bitcoin (BTC, +5.83%) fetching around $35,000 at press time. One expert said more is needed to continue driving gains in the current climate of fear, uncertainty, and doubt (FUD).

On Friday, the world’s first cryptocurrency fell more than 8% despite rallying 5% during the Asian trading session, bolstered by news of El Salvador’s confirmed date of its bitcoin law and a $30 bitcoin e-wallet airdrop.

3. China’s Longest-Running Crypto Exchange Closes Bitcoin Business Following Crackdowns

The closure represents the final nail in the coffin for the crypto-trading side of BTCC’s operations.

BTCChina, which was founded by Huang Xiaoyu and Yang Linke in 2011, said Thursday it had completely exited from business relating to bitcoin, the South China Morning Post reported.

The company’s stake in Singapore-registered bitcoin exchange ZG.com was sold to a foundation in Dubai a little over a year ago, the report revealed.

4. Singapore’s DBS Bank Enlists Nivaura’s ‘One-Click’ Blockchain Security Issuance

Nivaura is also launching the open-source GLML Foundation to help create automated tokenized securities.

It’s a good match: Nivaura has gone deep when it comes to tokenizing securities, working closely with partners like the London Stock Exchange Group (LSEG). DBS, with the support of the Monetary Authority of Singapore (MAS), is a leader when it comes to institutional involvement in cryptocurrency and digital assets.

In the early days of blockchain explorations, evangelists for the tech questioned the need for infrastructure such as central securities depositories (CSDs) as a decentralized future came into focus.

5. Polygon DeFi Protocol SafeDollar Hit by Exploit

Polygon-based decentralized finance (DeFi) protocol SafeDollar has been hit by an exploit, according a statement on its Telegram channel.

All activities on SafeDollar are paused and investigations were underway, it said.

“IMPORTANT: PLEASE STOP ALL TRADING RELATED TO $SDO,” it added.

The value of SafeDollar has dropped to $0, according to the protocol’s website.

The exploit used tether and USD coin, beincrypto.com reported, citing a tweet by DeFi analytics site Rugdoc.io Monday.

The contract address shows USDC and USDT were siphoned off.

Founded in July 2018, ZBG is a Hong Kong-based cryptocurrency exchange, a global platform of ZB.COM.

ZBG.com has quickly become one of the top 10 exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.

Currently, ZBG supports 11 languages, with an average daily activity of more than 160,000, providing over 3 million users around the world with trustworthy cryptocurrency trading, contract trading and other crypto asset investment services.

In the future, ZBG will continue to expand its global market and provide stable, safe and fast blockchain project listing, diversified crypto assets and blockchain derivatives investment services to more blockchain enthusiasts around the world.

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ZBG Team

June 28, 2021

Launched in 2018, ZBG is a Hong Kong-based crypto exchange, a subsidiary of ZB.COM. ZBG is focused on providing a trading platform for new and innovative tokens