Broker Updates During Jun.28 - July.4

Vietnam

LicenseCancellation

1. The Australian Securities and Investments Commission (ASIC) on Monday announced the cancellation of the Australian financial services (AFS) license provided to BBY Limited. This cancellation is effective from 24 June. The decision comes after 6 years of suspension of the company license.

IFX Expo

2. IFX Expo is the oldest Fintech event in Europe. Following the excitement and success of the May IFX Expo in DuBai, the event organizers have announced the next expo will take place in October 2021, namely October 5 and 6 at Parklane Hotel, Limassol, Cyprus.

CDPMembership

3. UP Fintech Holding (Nasdaq: TIGR), which operates the Tiger Brokers brand, announced on Friday that its Singapore-based subsidiary has received in-principle approval to be admitted as a member of the board of directors, clearing member of The Central Depository (Pte) Ltd (CDP).

Indonesia

Crypto Assets

4. The government noted that in the first semester of 2021 the value of crypto assets in Indonesia reached Rp 470 trillion. This number has increased five times compared to 2020 which was recorded at IDR 65 trillion.

In Indonesia, the number of investors since 2020 has been recorded at 4 million. However, it increased by 50% or to 6.5 million until May 2021. This significant growth has caused the value of digital investment in Indonesia to be at IDR 470 trillion.

In Indonesia, Bappebti plans to establish a commodity exchange for crypto assets. Currently, the regulations are being discussed and are planned to be established in the second semester of this year.

Thailand

Binance Banned

5. Britains financial watchdog FCA (Financial Conduct Authority) issued a warning on its website saying:

“Binance Markets Limited is not permitted to undertake any regulated activity in the UK. This firm is part of a wider Group (Binance Group).”

Fraud Prosecution

6. The Financial Conduct Authority (FCA) has issued an alert on Wednesday targeting victims of an illegal investment scheme to come forward after it was decided to compensate them. According to the announcement, after a hearing before the Southwark Crown Court, FCA agreed to secure asset confiscation orders against six individuals who are convicted and sentenced to terms of imprisonment totaling more than 28 years.

The case is known as the watchdogs largest fraud prosecution ever made. Per the court ruling.

Japan

FSA Warning

7. On June 25, the Financial Services Agency of Japan (FSA) announced that it has again warned Binance Holdings Limited, which operates the cryptocurrency exchange Binance (Representative: Changpeng Zhao).This is the second time the FSA has warned Binance since March 2018.

According to the FSA's announcement, Binance was operating a crypto asset exchange business via the Internet with Japanese residents as the counterparty without registration. If it ignores the warning from the FSA, it may face criminal charges for violating the Funds Settlement Act.

The FSA also warned Bybit. On June 25, the Kanto Local Finance Bureau warned Bybit for being an “unregistered crypto-asset exchange operator ”.

Bybit Fintech Limited (Representative: Ben Zhou) is the company that operates Bybit, a leading derivatives virtual currency exchange.

The exchange's website supports Japanese, and solicitation for traders in Japan through affiliate programs and other means has also been confirmed.

Commonwealth of Independent States (CIS)

Trading Schedule

8. Broker Freshforex announced that in connection with the celebration of Hong Kong Day, the Hang Seng Index (#HSI) will be closed on July 1. From July 2, trading will take place as usual.