Binance, the popular cryptocurrency exchange, is retreating from global markets due to increased regulatory scrutiny. The company has withdrawn license applications and ceased activities in several countries, choosing to focus on jurisdictions with clear regulatory frameworks and consolidating efforts within the European Union.
1 cryptocurrency scam
Central Bank of Cyprus Governor Constantinos Herodotou discussed the digital transformation of finance, highlighting the challenges and opportunities it brings. He emphasized the need for trust and stability in the financial system, including the development of a digital euro by the European Central Bank. Cyprus is also advancing digitally with platforms for customerbank interactions and an Innovation Hub for fintech dialogue.
A Limassol woman was scammed out of €19,200 by a fake Swiss resident who convinced her to install fake cryptocurrency apps and provide her card details. This incident highlights the need for increased vigilance and security measures in the face of sophisticated online scams, emphasizing the importance of skepticism and protecting personal and financial information.