The action by the Virtual Assets Regulation Authority targeting Kyle Davies, Su Zhu and others follows two cease-and-desist letters for operating an unregulated exchange.
PLUS: Western crypto innovators with great ideas are eying the East for tech-embracing governments and fresh opportunities. A West-East partnership may be crypto’s model for the future, the co-founder of Taipei-based Woo Network, Jack Tan, writes.
“Binance LaunchPool are meant as air drops for our retail users, not just for a few whales,” Binance CEO Changpeng Zhao tweeted after Sun transferred $56 million in TUSD to Binance.
The bitcoin kiosk company, its subsidiary Up Global and the CEO of both entities were accused of conducting “unregistered offers and sales of securities.”