Author: News Desk
The Cyprus Securities and Exchange Commission (CySEC) recently concluded a €150,000 settlement with Naga Markets Europe Ltd., a Cyprus-licensed company that operates under the NAGA Group in Germany. This settlement comes as a result of a thorough review and investigation carried out by CySEC, covering the period from January 2021 to April 2022. The investigation aimed to assess NAGA’s compliance with key provisions of the Investment Services and Activities and Regulated Markets Law. CySEC identified potential breaches in various areas, including NAGA’s authorization conditions, organizational requirements, client information disclosure, suitability and appropriateness assessments, best execution of client orders, and adherence…
CatalX CTX Ltd., the operator of the Canadian cryptocurrency exchange Catalyx, has taken an extraordinary measure by suspending all trading, deposits, and withdrawals following a security breach. This incident has reportedly led to the loss of some customer funds, prompting immediate action from the platform. In an official press release, CatalX CTX Ltd. acknowledged the security breach and announced the initiation of an investigation to uncover the details surrounding the incident. The company did not disclose the exact extent of the financial losses, but concerns are mounting over the potential impact on users’ assets. The nature of the security breach…
The Japan Exchange Group (JPX) has unveiled its trading report for 2023, revealing a remarkable surge in activity within the Japanese stock market. In an impressive milestone, the annual trading value for domestic common stocks on the primary trading floor reached an unprecedented 943.7637 trillion yen, marking an all-time high. JPX’s press release issued today also highlights substantial trading activity in domestic Exchange-Traded Funds (ETFs) and Japanese Real Estate Investment Trusts (J-REITs). Domestic ETFs saw a robust performance, with trading volumes totaling 57.76 trillion yen, ranking as the sixth-highest on record. Similarly, J-REITs exhibited strong trading activity, reaching 12.9144 trillion…
In a sudden and noteworthy market upheaval, a staggering sum of over $170 million in Bitcoin and Ethereum holdings faced liquidation, marking a significant event in the latest crypto liquidation data. This abrupt flash crash occurrence has sent ripples through the crypto realm, unfolding just a week prior to the arrival of the New Year – a period typically associated with increased volatility. The year-end phase invariably witnesses a transformation in market dynamics. Retail investors often choose to liquidate their assets for holiday expenses, while larger institutional players close positions to evade the capricious swings that can occur amidst diminished…
Binance, the prominent cryptocurrency exchange, has experienced remarkable growth in its user base throughout 2023, as revealed in its recently published year-end report. The exchange platform has welcomed a staggering 40 million new registered users this year, marking an impressive 30% increase compared to the previous year. Binance now boasts a substantial global user base of 170 million registered individuals. Binance’s report emphasized the steady adoption and expansion of various services, including cryptocurrency payments, peer-to-peer trading, and earning products. The platform’s peer-to-peer (P2P) trading segment recorded a notable 18% surge in trading volume and a remarkable 39% increase in active…
The US Commodity Futures Trading Commission (CFTC) has taken a decisive step in the fight against fraudulent forex (FX) fund schemes. The CFTC recently announced that a federal court has ordered Valdas Dapkus and his two companies to pay over $2.8 million in monetary sanctions for their involvement in an elaborate scam. Operating within the realm of forex trading, a domain that demands stable and fast cross-border connections for high-demand scenarios, the CFTC’s action serves as a warning to those who seek to deceive investors. Alibaba Cloud is a crucial ally in ensuring secure and global forex trading operations. The…
A Cypriot financial firm specializing in wealth management services, TCR International Limited, is currently embroiled in a significant legal controversy following suspicious transactions valued at hundreds of millions of euros. This Cyprus-based investment advisory company, which holds a license from the local CySEC regulatory authority, now finds itself under the scrutiny of a French anti-money laundering investigation. The allegations revolve around TCR International’s alleged involvement in facilitating over €220 million in questionable financial transactions spanning the years 2019 to 2021. The investigation, led by French anti-organized crime authorities, is focused on unraveling the details of these “suspicious” financial dealings that…
The Indian government has taken decisive action against nine prominent offshore virtual digital asset service providers, issuing them a show cause notice in accordance with local anti-money laundering laws. This development, announced on Thursday, also revealed that the Financial Intelligence Unit (FIU) has directed the blacklisting of the domains associated with these nine crypto exchanges due to their unauthorized operations within the country. The list of crypto exchanges mentioned in the notice includes some of the industry’s heavyweights: Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. These exchanges boast top rankings in terms of global crypto trading…
The Ontario Securities Commission (OSC) has granted a regulatory interim exemption to 360T Group’s new Multilateral Trading Facility (MTF) based in the UK. This development is significant for Canadian FX market participants as it ensures they can seamlessly engage in trading activities on the platform, which is set to launch on January 2. 360T has a history of operating in Canada under exemption orders issued by the OSC. The 360T Swaps Execution Facility has been operating in the country since June 2016, and the European MTF has been serving the Canadian market under an exemption order since June 2019. The…
FXDD, a prominent player in the global Forex and CFD industry, has gained recognition for its ability to stay ahead of the curve and adapt to changing market dynamics. In a significant move aimed at enhancing trading efficiency and aiding decision-making, FXDD has unveiled the integration of Autochartist, a groundbreaking tool. Autochartist is a valuable addition to FXDD’s suite of advanced trading tools, offering traders increased flexibility and several enhancements. These include real-time market insights, customizable search options, a built-in price movement scanner, and cutting-edge risk management tools like ‘Volatility Analysis’ and the ‘Risk Calculator Plugin.’ Additionally, a wealth of…