OTC trading portal launched by Binance

Binance launches an OTC trading portal with a minimum order of $ 10,000

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1 Binance launches an OTC trading portal with a minimum order of $ 10,000

2 FATF states that the US has not implemented all of its recommendations

3 AT&T is demanding cancellation of charges in case of Mike Terpin’s SIM swapping

The Binance Exchange has announced it is launching an OTC trading portal, which will initially offer 25 cryptocurrencies. The minimum order for operations will be the equivalent value of $ 10,000T.

According to a blog post, the portal will operate with direct listing requests, through which users can confirm transactions. The purchased cryptocurrencies will be deposited directly into the Binance account.

Those using the OTC portal must have a KYC verified account on the main exchange platform.

FATF states that the US has not implemented all of its recommendations

The Financial Action Group (FATF) said the US has not fully implemented its recommendations regarding the crypto industry. In the report published Tuesday, the organization mentioned “minor deficiencies” in US regulations. For example, companies that provide banking services keep detailed records for transactions of $ 3,000 or more. The FATF recommendation was to keep records for $ 1,000 transactions.

In addition, the US has not created separate regulations for virtual service providers (VASPs), according to FATF recommendations. However, their activity is largely covered by the legislation on banking institutions and money transmitters.

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AT&T is demanding cancellation of charges in case of Mike Terpin’s SIM swapping

Mobile operator AT&T has filed a claim for the case filed by crypto investor Mike Terpin. He was the victim of a hack through SIM-swap, after which cryptocurrencies worth $ 23.8 million were stolen. Terpin sued AT&T, seeking damages and $ 200 million in punitive damages.

AT&T lawyers argued that Terpin did not read the terms and conditions of use of its services. They provide that the user is responsible for protecting his data. In addition, the complaint made does not explain how the telephone operator facilitated the hack.