NEOPIN teams up with Ticker Capital to expand Web3 ecosystem

Dunamu’s Legal Team Recognized by Korean Police for Cyber Security ContributionsDunamu, the blockchain and fintech company behind South Korea’s largest cryptocurrency exchange Upbit, recently announced a noteworthy security achievement. At the 16th Cyber Security Awards organized by the Korean National Police Agency (KNPA), the leader of Dunamu’s Legal Team 3 was recognized with the KNPA Commissioner General’s Certificate of Appreciation. This accolade was in acknowledgment of the legal officer’s pivotal role in fostering collaboration between the private sector and police to combat the rising tide of cryptocurrency-linked crimes.Photo by Franck on UnsplashSupport guides and educational resourcesDunamu stands out as the only Korean virtual asset service provider (VASP) to have an employee distinguished in this manner this year. It’s worth noting that Dunamu’s legal teams have been proactively cooperating with law enforcement, providing them with investigation support guides and educational resources.A representative from Dunamu’s legal teams expressed gratitude to all team members for their collaborative efforts in combating virtual asset-related crimes and appreciated the recognition for their achievement. The official further emphasized Dunamu’s ongoing dedication to maintaining close cooperation with police and investigative bodies, aiming to cultivate a healthy virtual asset ecosystem.Awards since 2008The Cyber Security Awards were established in 2008 to recognize and honor those making significant contributions to cyberspace security. The awards not only motivate cyber police officers but also aim to bolster collaboration between the police and the private sector.This year, 27 distinguished individuals — including police officers, civil servants, and ordinary citizens — were recognized at the ceremony held on October 19 in Songdo Convensia, Incheon. They received commendations and certificates of appreciation for their contributions in areas ranging from cybercrime investigation and prevention to digital forensics.

American publicly-listed crypto exchange platform Coinbase is understood to be in talks with Indian regulators with a view towards enabling the re-entry of the exchange into the Indian market. News of the development emerged via a TechCrunch report published on Feb. 13. The publication cited two anonymous sources familiar with the matter. According to those sources, the American crypto exchange platform is in talks with officials from India’s Financial Intelligence Unit (FIU), a government agency that collects financial data regarding offenses under India’s Prevention of Money Laundering Act. Photo by Naveed Ahmed on UnsplashRegulatory pushbackThe FIU has been a key player in pushing back against exchanges that it believed were non-compliant in participating within the Indian market over the course of the past two years. In December 2023, the government agency moved to block overseas exchange businesses that it deemed to be operating illegally within the Indian market from engaging with Indian investors. That action was taken following calls from native Indian exchanges for a level playing field. At the time, they made the case to the Indian authorities that offshore exchanges were not operating in compliance with local regulations. Show-cause notices were issued against nine platforms at that time, although Coinbase wasn’t one of them.  The company had taken the measure of disabling new user sign-ups in India in September 2023. Prior to that, Coinbase CEO Brian Armstrong had complained about “informal pressure” being exerted by the Royal Bank of India (RBI). He said that the central bank was exerting “soft pressure” behind the scenes. On this attempt to re-enter the market, a spokesman for the company made the following statement to Cointelegraph: “Coinbase is excited by the opportunities in the Indian market and intends to comply with applicable regulatory requirements, but we have nothing to announce regarding a FIU registration at this time.” Kyle Chasse, founder of Web3-focused venture capital firm MV Global, outlined on X that it was “massive news,” adding that if the company re-enters the market, “huge liquidity could flow in from this.” Local partnersA source familiar with the matter told Decrypt that Coinbase wants “to do the same thing this time, but with local partners on board and a more clear strategy, which they didn’t have last time.”  The publication suggested that Coinbase executives will visit India in March to attend meetings with FIU officials. The timing of any official service re-launch in India will depend upon the regulatory steps that need to be followed by the company and the time taken to accomplish these requirements. In a related development, last week, Coinbase’s Chief Legal Officer (CLO), Paul Grewal, joined the board of directors of the U.S.-India Business Council, part of the U.S. Chamber of Commerce. While commenting on the appointment, Grewal spoke about a number of positive developments in India that are likely factors in the company’s renewed efforts to re-enter the Indian market. He stated: “India has one of the largest and fastest-growing web3 ecosystems in the world, with a booming developer community, pioneering startups, and bold institutional adoption. Since 2018, its share of global web3 developers has quadrupled to 12%, the highest growth among emerging markets.”

BitMEX, the Seychelles-headquartered cryptocurrency derivatives exchange, has officially launched a new options trading platform in collaboration with PowerTrade, a specialized crypto options platform.  The exchange announced details of the new product offering via a blog post published to its website. The firm intends to provide traders with a comprehensive suite of options for major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Solana (SOL) and Dogecoin (DOGE).  Crypto options are being offered in an effort to cater to the needs of institutional traders. Mario Gomez Lozada, CEO of PowerTrade, highlighted the synergy between BitMEX's deep market liquidity and PowerTrade's trader-centric technology. This strategic alliance aims to furnish traders with a seamless and high-performance trading experience, with the objective of meeting the demands of serious traders seeking effective and efficient trading tools. Taking to X, PowerTrade described the partnership as “a new era for options.” The firm outlined that although options only account for 3% of the crypto market, its expanding rapidly year-on-year. Not to be outdone, BitMEX also took to X, posting that “BitMEX invented the perp - now we’re reinventing options.”Photo by Viktor Forgacs™️ on UnsplashTaking on DeribitBitMEX made a name for itself in the industry by offering 100x leveraged perpetual swaps. It recently upped the ante to 250x for its Bitcoin perpetual swap prior to the halving. The company is now attempting to etch out a significant market share in the crypto options niche. To do so, it will have to compete with market leader Deribit. Deribit has been at the helm, accounting for 70% ($35.7 billion) of the $51.1 billion trading volume for Bitcoin options in April and maintaining its dominance since 2020. Despite challenges from large crypto exchanges like OKX and Binance, Deribit has held its ground. In discussion with The Block, BitMEX CEO Stephan Lutz said that the firm was targeting at least $500 million in trading volume within three months,  Zero trading feesIn a bid to attract traders to its new platform, BitMEX has devised a promotional campaign featuring zero trading fees on all options transactions throughout May. Moreover, the first 1,000 new traders joining the platform will receive a $20 bonus, further incentivizing participation. The platform also offers rewards based on trading volume, referred trading volumes and monthly trading competitions, injecting an element of competition and potential profit for active users. Upon conclusion of the promotional period, BitMEX's fee structure for options trading will align with its existing spot trading framework. This strategic move ensures a seamless integration of the options platform into BitMEX's ecosystem, providing users with a consistent and predictable cost model when trading across different digital assets.