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South Korea's Financial Supervisory Service says 70% of defunct crypto exchanges fail to return user funds. The country's upcoming Virtual Asset User Protection Act is expected to address this problem by imposing the following on crypto exchanges: ⚫Maintaining transaction records for at least 15 years. ⚫Segregating customer funds and operational funds. ⚫Have at least 80% of customer assets stored in cold wallets.
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#BTC☀ $BTC Binance seeks to dismiss most of the £10bn ($12.8bn) London lawsuit alleging it and other exchanges, including Kraken, colluded to delist Bitcoin Satoshi Vision (BSV). The lawsuit claims the 2019 delisting was anti-competitive, causing BSV's value to drop. Binance argues those who kept BSV did so voluntarily. BSV Claims wants the case to proceed to trial. Kraken called the lawsuit "baseless." The delisting was partly due to Craig Wright's false claim to be Bitcoin's inventor, Satoshi Nakamoto
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