The FSA has targeted five exchanges, including Dubai-based Bybit Fintech, Singapore-based MEXC Global, LBank Exchange, Seychelles-based KuCoin, and Singapore-based Bitget. On February 6, Apple removed these apps from the App Store, preventing Japanese users from downloading them.

Japan’s Cautious Approach to Crypto

Japan has adopted one of the most cautious stances towards cryptocurrencies among Asian markets. While Hong Kong has approved the first spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs), Japanese regulators remain wary of the volatility and risks associated with crypto ETFs.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The FSA’s action should not be seen as a crackdown on retail crypto investment. Anndy Lian told Cointelegraph, “This isn’t about shutting down crypto investing. It’s about saying, ‘If you want to operate in our market, you must play by our rules.'”

New Tax Reform and Investor Protection

This regulatory move comes after the announcement of a new tax reform for 2025, which will treat crypto assets like traditional financial assets.

Lian emphasized that Japan’s regulatory approach is not an attack on crypto but a measure for investor protection and accountability. He pointed out that after the Mt. Gox hack in 2014, which caused massive losses, Japan has focused on tightening regulations to prevent such incidents. The Mt. Gox collapse resulted in a loss of $9.4 billion for over 127,000 investors.

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In the latest update from the SPK, the number of approved platforms has risen from 47 to 76. This list includes several banks, as well as the Turkish subsidiaries of numerous global exchanges that were not previously approved.

Which Cryptocurrency Exchanges and Platforms Have Received SPK Approval in Turkey?

Below is the list of 76 companies that have received preliminary approval to operate in Turkey:

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$CYBER Token Airdrop Worth 100.000 Dollars!

Binance, one of the world’s largest cryptocurrency exchanges, announced in a post on February 27, 2024, that it started at the $100.000 worth airdrop event.

As a result of the event, the reward of CYBER tokens worth 100.000 dollars will be distributed to eligible users.

The event, which will end on March 11, 2024 at 23:59 UTC, the tasks in your Binance Web3 Wallet need to be completed to take part in the rewards.

How to Participate in the Event?

Step 1: Install the “Binance” application on your mobile device. If it is already installed, make sure the app is up-to-date.

If you don’t have a Binance account, you can register by clicking here to get a lifetime commission discount.

Step 2: Click on the “Wallet” option in the bottom right corner and switch from “Exchange” to “Web3”.

Step 3: Follow the guide and create your Binance Web3 Wallet.

Backup your wallet keys before moving on to the next step.

Step 4: Click on the “Deposit” option and transfer your funds to your Binance Web3 Wallet.

You can transfer funds directly from your Binance exchange to your Binance Wallet. You will need approximately $7-$15 worth of OP ETH to complete the CyberID creation task (the cost will be higher when there are fewer characters in CyberID).

Continuing similar steps and using the same translated phrases for steps in mobile and web versions.

Finally,

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Cryptocurrency exchange FTX received approval from the court to sell Grayscale’s $744 million worth of assets. According to breaking news shared by Bloomberg, the Grayscale assets that exchange dealer held included $597 million worth of Bitcoin product GBTC, Ethereum product ETHE worth $87 million and BITW which contains various cryptocurrencies worth $53 million and other products.

Despite this large sale news, particularly the impact of the sale in the Bitcoin product caused the BTC price to drop temporarily to $37,600. However, generally, FTX’s sale approval did not significantly affect the BTC price.

According to court documents, FTX will carefully sell the assets in a way to maximize their values and not cause price volatility in the market. The bankrupt company FTX’s new management achieved a recovery success exceeding $3.4 billion in cryptocurrency assets and protected a total value of $7 billion.

The current movements within the cryptocurrency market are notably attentive to the ongoing sales process associated with FTX’s Grayscale assets. This process has garnered substantial attention as it holds the potential to significantly influence market dynamics and investor sentiment in the crypto sphere.

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The post FTX Received Approval for Grayscale’s Asset Sale! appeared first on Coin Engineer.

We have developed the Coin Engineer Mobile APP, which we believe will facilitate your market tracking, enabling easy news and market monitoring, while offering the potential for significant profits, making it one of the leading cryptocurrency applications.

You might like: Degen Exchange and Rollbot.com are Closing!

What is Coin Engineer Mobile APP?

The Coin Engineer team has developed Coin Engineer Mobile APP, featuring a user-friendly interface that allows you to instantly track the market, additionally easily follow the news, stay informed about special events, effortlessly monitor airdrops, and read self-improvement articles.

How Do I Get The Coin Engineer Mobile APP?

You can download the Coin Engineer mobile application for your IOS devices from the App Store, also for your Android devices from the Play Store, and start using it.

How is Coin Engineer Mobile APP Used?

After downloading the Mobile App to your phones through the appropriate market, you log into the application. At this stage, some registration methods are presented to you. You can register by entering your Google account, Apple account, or Mail information. Once the registration process is complete, the global market is at your fingertips.

Mobile APP User Guide

• Homepage: This is the page that welcomes you when you log into the application. In this area, you can follow the live news flow. You can easily access live market data, The Fear and Greed Index, Long-Short rates, and upcoming events are waiting for you on the homepage of the Mobile App. From the Ask the Engineer tab, you can ask us all your questions, with the Education tab, you can reach our free education series.
• News: You can follow live news flow and Coin analyzes on the news tab. You can easily follow the latest Airdrop News and announcements from this tab.
• Markets: This tab, where you can accurately track the instant values of cryptocurrencies, also offers you the opportunity to easily follow the market with a feature that allows you to classify assets as Favorites, Trends, Rising, Falling.
• Portfolio: In this customizable area, you can save your portfolio and easily do portfolio analysis and tracking.
• Menu: With this tab, you can get information about current IDO,IEO and ICO and instant ROI’s. In the About Us section, you can find many details about us, and from the Contact tab, you can easily access all our social media accounts.

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You might also like: Nasdaq Paused Plans About Crypto

According to the Commodity Futures Trading Regulatory Agency (Bappebti), people mostly invest in Tether, Bitcoin, Ethereum, Ripple and BNB. In addition, these cryptocurrencies reach up to 4.42 billion dollars. Thus, it is clear that Indonesian people are interested in crypto assets. These situations cause to launch a new crypto exchange by the government.

Register for the exchanges with 20% discount.

Indonesia announced to launch a new crypto exchange.

Didid Noordiantmoko, the leader of Bappebti, has announced some information about processes in the new exchange. Firstly, Komoditi Nusantara will manage the exchange. Kliring Berjangka Indonesia will clear transactions in the exchange. Also, Tennet Depository will be responsible for the management of crypto assets. Besides, a new law indicates that Bappebti is not responsible for the regulation of cryptocurrencies. This duty was given to Financial Services Authorities. Not only regulations but also they will do the management of crypto.

You can type your opinions as comments and follow us on Telegram, Twitter, and YouTube for the kind of news.

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