Latest Crypto Exchange News and Insights | Yellow.com

Binance, the world's largest cryptocurrency exchange, has resumed its Mastercard crypto payments. This comes after a 10-month suspension. The move signals a significant development in the crypto payments sector. In a way, this is a dream collaboration of two financial giants. You can use your ordinary bank card to make payments with crypto. Binance's collaboration with Mastercard isn't new. The partnership began in 2020, aiming to bridge traditional finance and crypto. The halt began in August 2023, amid regulatory scrutiny. Mastercard had stopped supporting Binance's transactions due to compliance concerns. Now, Binance has addressed these issues, allowing the payments to resume. The recent reinstatement marks a revival of this relationship. It also underscores the growing acceptance of crypto in conventional financial systems. This resumption is expected to boost crypto adoption. Binance's large user base now has more flexibility in managing their digital assets. Mastercard’s involvement adds credibility to crypto transactions, appealing to mainstream users. Regulatory challenges remain a concern for Binance. However, this step shows progress in navigating these hurdles. The company's commitment to compliance appears to be paying off. For users, the return of Mastercard payments enhances convenience. It simplifies the process of converting and spending crypto. This move could drive higher transaction volumes on Binance, benefiting both the exchange and its users. Overall, Binance’s resumption of Mastercard crypto payments after a lengthy hiatus is a positive sign. It reflects the exchange's efforts to comply with regulations and improve user experience. This development could pave the way for further advancements in crypto payment solutions. Binance, founded in 2017 by Changpeng Zhao, is the world's largest cryptocurrency exchange by trading volume. It offers a wide range of services, including spot trading, futures, margin trading, and staking. Known for its extensive selection of digital assets and robust security measures, Binance serves millions of users globally. The exchange has faced regulatory challenges but continues to expand its offerings and improve compliance. Its innovative approach and user-centric platform make it a pivotal player in the crypto industry. Mastercard, established in 1966, is a global financial services corporation headquartered in Purchase, New York. It operates one of the world's largest payment processing networks, facilitating transactions between consumers, businesses, and financial institutions. Known for its reliability and security, Mastercard offers a variety of products, including credit, debit, and prepaid cards. The company has increasingly embraced fintech and digital payments, making strides in integrating blockchain and cryptocurrency solutions. Mastercard's focus on innovation and security positions it as a leader in the evolving financial landscape.

SEC Chair Gary Gensler has once again raised concerns about the operations of cryptocurrency exchanges. He believes that exchanges, which are a key element of the modern crypto market, do more harm than good. In his interview with CNBS, he stated these platforms engage in practices that the New York Stock Exchange (NYSE) would never be permitted to do. His remarks underscore the ongoing regulatory scrutiny facing the crypto industry. Gensler pointed out that crypto exchanges fail to provide the necessary disclosures to investors. This lack of transparency is a significant issue. Traditional exchanges like the NYSE are held to strict standards, ensuring investor protection, he said. Moreover, Gensler highlighted a potential conflict of interest. He suggested that crypto platforms might be trading against their customers. According to Gensler, this behavior would be unacceptable on regulated exchanges. The SEC Chair emphasized the need for regulatory oversight. He believes crypto exchanges should adhere to the same standards as traditional financial markets. Without proper regulation, investors remain at risk. Gensler's comments come amid increasing calls for tighter crypto regulation. The SEC continues to investigate and address these concerns. As the crypto market grows, ensuring investor protection remains a top priority for regulators. At the same time, many ordinary users still thinks that investor protection is in fact a kind of surveillance. There is a common narrative among experienced crypto users, which states that KYC and other security practices are limiting the users' right for privacy. There is a growing trend for no KYC exchange popularity. And there is a reason for that. Gensler's critique of crypto exchanges highlights significant regulatory gaps. His stance is clear: these platforms must be held accountable. Yet, SEC is telling just one side of the story. And the tighter measures will be taken for investor protection, the more critics will fiercely attack Gensler's position.

May's crypto market witnessed a notable decline in centralized exchange volumes, hinting at significant changes ahead. Report from CCData indicates a 27.1% drop in May compared to April, marking the lowest volume since October 2020. This decline is crucial as it suggests traders are moving away from centralized platforms. And that is a clear sign of a bullish market. Investors are increasingly transferring assets to private wallets or decentralized platforms, demonstrating a growing confidence in holding rather than trading. This movement is often associated with expectations of long-term price increases. Several other factors contribute to this shift. Regulatory pressures on centralized exchanges are intensifying, pushing traders toward decentralized alternatives. Additionally, the rise of DeFi platforms offers more attractive opportunities, drawing significant volumes away from traditional exchanges. Bitcoin and Ethereum have shown resilience, with prices maintaining stability amid the shifting landscape. Investors appear undeterred by the declining volumes, focusing instead on the long-term potential of their holdings. The migration to decentralized finance highlights a broader trend in the crypto ecosystem. As confidence in DeFi grows, traditional exchanges may need to adapt to maintain relevance. This evolution signals a maturing market where investors seek more control over their assets.

Binance, the global cryptocurrency exchange, is set to enforce significant changes to stablecoin access for European users starting June 30. Unauthorized stablecoins will be restricted. The move aligns with the European Union's new Markets in Crypto-Assets (MiCA) regulations, which mandate that only regulated companies can issue and offer stablecoins to the public. As part of this compliance, Binance will restrict access to "unauthorized" stablecoins. Users will see phased changes across Binance's products, including Binance Convert, Spot Trading, and Wallet services. Unauthorized stablecoins will be unavailable for new transactions, aiming to minimize market disruptions and ensure regulatory adherence. Additionally, the changes impact reward distributions and various Binance services, including Spot Copy Trading, which will cease on June 29 for EEA users. Margin trading will also face restrictions, with new borrowings and transfers of unauthorized stablecoins being blocked. Binance’s ecosystem will undergo further adjustments, affecting services like Launchpad, Launchpool, Simple Earn, and others. The company's native token, BNB, showed a positive market response, trading at $623 with a 4.5% gain. These measures underscore Binance’s commitment to regulatory compliance while adapting to evolving crypto-asset regulations in Europe.

Hackers have exploited a Chrome plugin to steal millions from Binance accounts. A Chinese trader lost $1 million in the scam involving the Aggr plugin, which steals cookies to bypass security measures. The trader, known as CryptoNakamao, discovered the theft after noticing unusual trading activity in his Binance account. The hackers used stolen cookies to hijack sessions and execute leveraged trades, manipulating low liquidity pairs for profit. Despite having 2FA enabled, the trader's funds were not safe due to the session hijacking. Basically, it means that because of the features of cryptocurrency exchange authorisation, it is enough to get hold of the coockies to access funds even if you enabled 2FA. Thus, it is essential not to install unverified browser plugins and extensions to a browser you use for crypto trading. Especially, if significant holdings are involved. CryptoNakamao blames Binance for not implementing risk controls or freezing the hacker's account. He claims Binance knew about the fraudulent plugin but failed to inform users or act promptly. This oversight led to significant losses and abnormal transactions across multiple currency pairs. The incident raises concerns about the security measures in place to protect users from such sophisticated attacks. As investigations continue, affected users are left grappling with the financial impact.