Weekly Report (28 Feb. – 05 March 23) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) Bybit Stops USD Bank Transfer Deposits Due To Partner “Service Failures”

The cryptocurrency exchange Bybit terminated its support for the bank transfer method of depositing US dollars, claiming “service disruptions” from a partner. In a notice made public on Saturday by the corporation, it was said that “Starting immediately, USD deposits through wire transfer (SWIFT) and wire transfer (for U.S. banks) are no longer accessible.”…[continue reading]

2) Silvergate Exchange Network Suspended Following Corporate Issues

According to the corporation, the Silvergate Exchange Network (SEN) would be shut down because of a “risk-based decision.” Due to what the company describes as “a risk-based decision,” Silvergate was forced to shut down its Silvergate Exchange Network on Friday…[continue reading]

3) SEC Official Claims That Binance US Operates As A “Unregistered Securities Exchange”

A U.S. Securities and Exchange Commission representative said that agency staff thinks that Binance US is running an unregistered securities exchange in the United States and that Voyager Digital’s sale of VGX tokens violates federal securities laws…[continue reading]

4) Binance Makes Another Effort To Get A License To Provide Crypto Services In Singapore

The world’s biggest cryptocurrency exchange, Binance, is apparently attempting to secure cryptocurrency services in Singapore once again. The exchange’s custody arm intends to seek a license in order to begin offering cryptocurrency services in Singapore…[continue reading]

5) Bitbns Confirmed The $7.5M Attack That Occurred In February

On February 1, 2022, a hack was concealed by the Indian cryptocurrency exchange Bitbns under the pretence of “system maintenance,” according to ZachXBT, a crypto detective who tweets under the handle @ZachXBT. On March 1, 2023, ZachXBT reportedly tweeted a screenshot of a BitBNS maintenance tweet during which the exchange was hijacked…[continue reading]

6) CEO Of Coinbase Stated That BUSD Was Delisted Due To Liquidity Issues

The exchange earlier stated that it took the decision because BUSD did not match its listing requirements, but did not elaborate. Coinbase CEO Brian Armstrong stated that the exchange opted to suspend trading of the Binance Dollar (BUSD) due to liquidity problems…[continue reading]

7) UK Banking Regulator Will Propose Crypto Issuance, And Holding Regulations Once Basel 3 Completed

Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta announced in a speech on February 27 that the UK’s bank regulator, the Prudential Regulation Authority (PRA), would propose rules for issuing and owning digital assets. The guidelines will be drafted with Basel III and the Financial Services and Markets (FSM) bill now under discussion by the Parliament in mind…[continue reading]