The New York State Department of Financial Services (NYDFS) responded by handing Paxos a stiff $26.5 million fine for its violations related to the Binance partnership. This punishment is nothing like a regulatory slap on the wrist. In the end, this is the most stark wake-up call. If we want...

The rapidly evolving world of cryptocurrency has been under the regulatory microscope. Recent developments—including the New York Department of Financial Services tabulating a $26.5 million fine against Paxos—demonstrate the intensifying squeeze on crypto companies. They have to now start implementing rigorous enforcement of strict Anti-Money Laundering (AML) standards. This deep...

Paxos Trust Company will pay $26.5 million to the NYDFS. This payment settles allegations over its former compliance with Binance. In its cease and desist order, the New York financial services regulator claimed that Paxos Trust also failed to exercise sufficient due diligence over Binance. This penalty addresses violations resulting...

The New York State Department of Financial Services (NYDFS) recently announced a $26.5 million fine against Paxos. This $4.3 billion civil monetary penalty is for compliance failures related to Binance. In a quick look, it might appear to be a far-off rumbling. A tale limited to the shiny ivory towers...

Umair Younas is a freelance writer specializing in cryptocurrency since 2019. As an occasional writer for Blockchainreporter, he most recently wrote to change the community on selected key occurrences in the crypto cosmos. His reports cover PayPal's new 'Pay with Crypto' service, Binance's DEX Pro Mode, Ripple's acquisition of Hidden...

As the cryptocurrency landscape evolves past the speculative bubble phase, we begin to see real utility and use cases. ThrowingToken.com is watching very closely as big players like PayPal, Binance and Ripple make strategic moves. These enterprises are key to moving crypto from promise to the real world and expanding...

Is crypto finally growing up? How many times have we heard about “mainstream adoption” a decade ago? Decentralized utopias, financial independence, Lambos for all were the catchphrases. If we’re being honest, for the average consumer, it’s been less about valuable innovation and more about speculative bubbles and gibberish jargon. Are...

Did you catch news of the DeFi whale who recently moved $31 million of ETH from Blast to Binance? Sure, it's another day in crypto. Let's zoom out for a moment. Here’s where the fun begins — let’s unpack just what this means. This is critical for all of us...

50x leverage on ZORA? That number in and of itself should make you shudder, or perhaps light a fire in your belly. As part of the campaign, Binance has chosen to provide users with a huge 0.1% exposure on ZORAUSDT and TAGUSDT perpetual contracts only. With this move, further aimed...

Binance recently introduced ZORAUSDT perpetual contracts with a whopping 50x leverage. This decision is generating great enthusiasm throughout the crypto ecosystem, especially in African markets. While the allure of amplified gains is undeniable, a crucial question hangs in the air: Is this a genuine step towards empowering African investors, or...