SCMRegulated
Malaysia Crypto Asset Exchange License (CEX)
Luno
Regulated in Malaysia
Crypto Asset Exchange License (CEX)
Global Business
Basic Information
Country/RegionUnited Kingdom
Exchange AbbreviationLuno
Company NameLUNO (PTY) LTD
Operating Period5-10 years
Websitehttps://www.luno.com/
Exchange TypeDecentralized Exchange
RiskNotice
4 risk alerts
FSCARegulated
South Africa Crypto Asset Trading License (AGN)
AUSTRACActive
Australia Virtual Asset Service Provider (VASP)
Exchanges with 24H trading volume exceeding 44.47%
$3,200,000
6.73% Exchange Overview
Exchange Overview
Luno is the crypto investment app you can rely on, enabling you to buy, store and explore crypto securely. We’re committed to putting the power of cryptocurrency in everyone's hands sensibly and responsibly.
Since 2013, we’ve helped millions of people around the world invest safely in crypto. We do this by cutting through the hype and supporting customers at every step of the way. All products and cryptocurrencies on our platform must first meet stringent legal, risk and technical security standards.
Transparency is key for us. Luno stores all crypto on a 1:1 basis and we have rigorous processes in place so you can be confident your investment is secure. We’re available in more than 40 countries around the world and we work closely with respective regulators in all of these markets to be fully compliant, as we believe this is the best way to help everyone, everywhere, invest safely.
All features are available on Luno’s mobile app for iOS and Android), and on desktop.
Business Region
InfluenceA0
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News
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Beware of sophisticated scams and rug pulls, as thugs target crypto users
Scams are the biggest threat for building trust in crypto Kim Grauer, head of research at Chainalysis, told Cointelegraph that while there are many different crypto-related crimes, scamming has become the largest in terms of value received by criminals. She added that scams represent a significant threat to building trust within the crypto ecosystem, as this may prevent people from investing in digital assets. Grauer further mentioned that scams related to decentralized finance (DeFi) have been on the rise this year. With an annualized revenue in all DeFi protocols estimated at around $5 billion, this shouldn‘t come as a surprise. More interesting, though, is that Chainalsyis has discovered that “rug pulls” have contributed to this year’s increase in scam revenue. According to Grauer, Chainalysis defines rug pulls as an instance when a person or developer decides to unexpectedly cease a project and run away with funds:“Rug pulls have accelerated the amount of scamming the crypto space has seen this year. In addition to financial scams, rug pulls have exploited different vulnerabilities in the crypto space. Overall, they have taken $2.8 billion of cryptocurrency.” Although rug pulls are a relatively new crime, Grauer believes these cases are becoming common in the growing DeFi ecosystem.
UK watchdog bans seven crypto ads failing to highlight potential trading risks
In a bid to promote ethical crypto trading in the country, the UKs advertising watchdog has banned seven cryptocurrency advertisements of leading crypto companies due to their inability to “illustrate the risk of the investment.” Leading crypto companies such as Etoro, Exmo, Coinburp, and Luno had to face ASAs crackdown for: “Irresponsibly taking advantage of consumers inexperience” and failing to explain the potential risks associated with cryptocurrency trading. ASAs crackdown on crypto companies This is not the first time when ASA had imposed an outright ban on crypto ads failing to highlight crypto investment risks. The UK watchdog had earlier banned Floki Inu advertisements quoting “irresponsible promotion.” The seven crypto ads banned were mostly produced by crypto companies themselves in a bid to attract more users. This was the case for Coinburp, Luno, Exmo, and Etoro. However, ASA also banned marketing campaigns of ad firms Europe and Payward for displaying ads for American crypto exchanges Coinbase and Kraken. In Krakens case, a complaint was filed due to a digital poster that the exchange had put up in the London underground station. Even though the exchange had issued a disclaimer with the advertisement, ASA was quick to conclude that “consumers would not have had the
62% of Malaysians Open to Investing in Cryptocurrencies
Luno, a regulated digital asset exchange in Malaysia, announced the completion of an online nationwide survey aimed at understanding the financial management habits of everyday individuals. Conducted by YouGov, the data was collected from more than a thousand Malaysian adults throughout the country. They said this is to ensure a statistically accurate representation of the typical saving and investment strategies employed by the general public. The survey highlighted that Malaysians predominantly view wealth as an important catalyst in attaining greater financial freedom for both themselves and their families. A majority of respondents (60%) stated that the importance of having money to them is for safeguarding their familys financial well-being. Additionally, 58% of respondents stated the importance of attaining a financially flexible lifestyle in the future. According to the survey, 64% of the total sampled population stated that they save their money often. The data also illustrated that respondents aged between 18-34 years old were most likely to be in (66%) the regular savers group; in comparison, only 55% of 55+ year olds are regular savers. This indicates that the younger generations of Malaysians tend to be more proactive in their savings compared to the older generations. In terms of where these regular savers would likely
