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After navigating significant challenges in the United States regarding money laundering allegations that led to the resignation of its former CEO, Changpeng Zhao (CZ), cryptocurrency exchange Binance finds itself under scrutiny once again, this time in Australia. 

Binance’s AML And CTF Controls Under Fire

The Australian Transaction Reports and Analysis Centre (AUSTRAC), the nation’s financial intelligence agency, has mandated that Binance’s local arm appoint an external auditor due to “serious concerns” about its anti-money laundering (AML) and counter-terrorism financing (CTF) controls.

AUSTRAC’s concerns emerged following a recent independent review of Binance Australia’s operations, which the agency described as “limited in scope relative to its size, business offerings, and risks.”

The agency highlighted alleged issues from the exchange such as high staff turnover, inadequate local resources, and insufficient oversight from senior management. 

In a statement, AUSTRAC emphasized the need for robust systems that align with local regulatory requirements, particularly given the global nature of the exchange’s operations. 

Brendan Thomas, AUSTRAC’s chief executive, stressed the importance of effective customer identification, due diligence, and transaction monitoring in a high-risk environment. Thomas stated:

This is a global company operating across borders in a high-risk environment. We expect robust customer identification, due diligence and effective transaction monitoring.

Global Regulatory Challenges

Binance has been given a 28-day window to nominate external auditors to address these concerns. In response to the situation, Matt Poblocki, the general manager of Binance Australia and New Zealand, stated that the exchange has been engaging openly and transparently with AUSTRAC throughout recent months. 

The exchange’s executives reassured stakeholders and users in the country about the company’s commitment to maintaining high compliance standards and improving its capabilities.

Founded in 2017, Binance has rapidly ascended to become the world’s largest cryptocurrency exchange by trading volume. However, its journey has not been without difficulties. 

After initially operating in China, Zhao moved the company’s operations internationally due to a crackdown on the crypto sector by Chinese authorities. Despite its growth, Binance has faced accusations in multiple countries of facilitating the laundering of funds for criminal organizations.

Zhao pleaded guilty to violating US anti-money laundering laws in late 2023, resulting in a four-month prison sentence in 2024. However, Bitcoinist has reported that despite being banned from taking charge of the exchange, Zhao might be seeking a pardon from pro-crypto President Donald Trump.

These legal challenges have compounded the scrutiny on Binance with the exchange taking a new direction with its new CEO Richard Teng as regulators worldwide increasingly focus on ensuring compliance.

Despite recent scrutiny from Australia’s Transaction Reports and Analysis Centre, Binance’s native token, BNB, reached an all-time high of $882 on Friday. The cryptocurrency has consistently surged over the past month, even as the broader market struggled.

Featured image from DALL-E, chart from TradingView.com 

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I started using MetaTrader back in about 2008.

Unfortunately, it hasn’t changed much, even with the launch of MT5.

That means it still doesn’t have the “One Cancels the Other” order function. Some people, including myself, prefer to call this “Order Cancels Order.”

Whatever you call it, now we can now easily add this order type to MT5 with the help of AI.

You don’t need to know how to code. 

In this tutorial, I’ll show why OCO is so useful and how to use ChatGPT to easily create your own OCO EA for MetaTrader 5.

How OCO Works

“One Cancels the Other” (OCO) trading orders are a type of conditional order where two pending orders are placed simultaneously, but only one can be executed.

When one of the orders is triggered and filled, the other is automatically canceled.

This can be very useful for taking advantage of different trading opportunities.

OCO Example

Here’s an example where you can use an OCO order to take advantage of a potentially profitable situation.

This Pin Bar is also an Engulfing Bar, which could signal a top.

The previous bar had very high volume, showing that this trend could be coming to an end because traders appear to be bailing out.

Now I could enter this trade now, but there is no guarantee that price will drop as expected.

So I can set up 2 pending orders, one sell limit above the current price (higher blue line) and a sell stop below the current price (lower blue line).

The first thing that could happen is price could retrace before moving back down.

If price does retrace, I will enter the trade at a slightly better price and make a little more money. The second trade will be cancelled and I won’t take a duplicate trade.

Even if price retraces and hits a stop loss above the candle, the loss will be smaller than if I entered at the close of the current candle.

Another thing that could happen is price could just head straight down, as expected. In this case, the sell stop (lower blue line) will be hit and the retracement trade will be cancelled.

This pending order will get me into the market if goes in the direction that I expect, but doesn’t retrace. It’s the best of both worlds.

If price doesn’t go as I planned, I’ll lose less money because the sell limit will get hit instead of this sell stop.

As you can see, using a OCO order can be extremely useful.

The amount of money I save by doing this can really add up over time.

MT5 EA Design

Before we talk to ChatGPT, we have to put a little thought into how we will design this MT5 EA.

There are only 2 things that we have to account for.

First, there might be other pending trades in the same market, so we would have to account for that and only cancel orders that we mark for cancellation, and not any others.

Second, we only want to cancel trades in the same market of the chart that the EA is attached to.

This will rule out any trades in other markets that happen to have the same marker.

In MetaTrader 5, we can use the comment field to easily mark trades that we want to apply the OCO logic to.

It takes a little getting used to because in order to use the comment field, the order has to be entered via the right-click menu and not the one-click button.

But it’s not a big deal.

The ChatGPT Prompt to Get OCO in MT5

So for this EA, I’m going to prompt ChatGPT with the following:

Please create an EA for MetaTrader 5 that looks for open orders with a comment in the market of the chart that the EA is attached to. When an open order with a comment is found, cancel all pending orders with a matching comment, in the same market on the next tick. Do not provide any inputs, everything should be done without user input. Automatically match the comment fields.

Feel free to copy and paste that prompt and use it for yourself.

But remember that I’m NOT liable for whatever happens if you choose to use that prompt. 

ChatGPT or another AI might give you a different result than what I got, depending on which model you use, so you always have to test an EA thoroughly before using it in a live account. 

Keep reading to learn how to test it.

Create the Expert Advisor in MT5

Once you get the code from ChatGPT, simply hit the Copy link in the upper right corner of the code window to copy the code.

Then open MT5 and click on the IDE button at the top.

This will open the MQL5 Editor.

Click on the New button in the upper left corner of the screen.

A window will come up with a wizard.

• On the first screen, select: Expert Advisor (template)
• Click Next
• Give the EA a name
• Keep clicking Next until you get to the end of the wizard

The rest of the settings don’t matter because you’re just going to copy in the code from ChatGPT anyway.

When you see the EA template that MT5 created for you, click anywhere on the screen and it Control+A to select all the text.

Then hit Backspace or Delete on your keyboard to delete everything.

Now hit Control+V to paste the ChatGPT code into the blank area.

Finally, click on the Compile button on the top of the screen to check the code.

If it compiles without errors, congratulations!

Skip down to the installation section below.

Otherwise, use the next section to fix the errors.

Troubleshooting

ChatGPT might not get it right the first time.

When you compile the code, there’s a good chance that you’ll get some errors or warnings like this.

When that happens, simply highlight all of the error messages in MT5, by using Shift+left mouse click and right-click > copy to copy them.

Then go over to ChatGPT and ask it to fix it.

For example:

You might have to do this a few times, but it usually figures it out eventually.

Remember that is only a syntax test.

Now you have to check the logic of the program.

Put it into a demo account and test until you’re confident in the results.

If you’re having problems that you cannot correct, check to see that you’re using MT5.

The code for MT4 and MT5 are different, so you cannot use this EA in MT4.

How to Install the EA

Once the code compiles, go back to the main MT5 window and look in the Navigator window.

If the Navigator section is not available, then go to: View > Navigator to open the window.

Go to the Expert Advisors section and click and drag the EA you created onto the chart.

Once it is on the chart, you’ll see the name of the EA in the upper right corner of the chart.

The hat icon should be blue to show that it’s running.

If it’s not blue, then click the Algo Trading button at the top of the screen to make sure that the EA is activated.

Test the EA

Now it’s time to test your new EA.

Be sure to test this in a DEMO account, just in case something goes wrong. 

To take a trade, right click on the chart you want to trade on.

Go to: Trading > New Order

In the comment field, enter anything you want to identify the order.

It could be something like “999” or whatever is easy to remember.

Enter the details for the pending order, then open a new pending order and enter the same comment text in the comment field.

To test this quickly, set 2 orders that are very close to the current price, so one of them gets executed right away.

You can also see how the EA treats multiple pending orders with the same comment.

Try every kind of weird situation you can think of to be sure that the EA is working as expected.

Test it until you are 100% confident that it’s working correctly.

More Troubleshooting

If there are issues with the logic of the EA, then go back to ChatGPT to work them out.

At some point, you’ll have to start understanding the code, so now is a good time to start.

You don’t have to know how to code, but you should know how each part of the code works.

Luckily, you can get ChatGPT to explain it to you.

It’s actually quite good at explaining.

Keep asking it questions until you understand how the program works.

Remember that ChatGPT might sound all professional, but it doesn’t know as much as you think.

Tell it exactly what you want and don’t let it insert logic that it thinks is good, but isn’t in line with what you want. 

Like any other skill, building with ChatGPT can be a little frustrating in the beginning.

But once you get the hang of it, it’s extremely powerful and help you build all the trading tools that you’ve always wanted.

Final Thoughts

So that’s how to create an OCO EA for MT5.

But this is just the beginning.

What else can you make?

Use your creativity and let your imagination run wild.

You might just create something amazing…and super profitable.

Author

Julia Smith

Author

Julia Smith

About Author

Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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Last updated: 

June 25, 2025

U.S. Federal Housing Finance Agency (FHFA) Director Bill Pulte has ordered Fannie Mae and Freddie Mac to consider ways cryptocurrencies may be used in mortgage risk assessments, a Wednesday order from the FHFA reveals.

FHFA To Consider Crypto As Mortgage Asset, Bill Pulte Says

According to a June 25 X post from Pulte, the two government-sponsored enterprises will prepare a proposal considering “cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments” without first being converted to U.S. dollars.

However, only cryptocurrencies stored on a U.S.-regulated centralized exchange would be considered by the government agency.

“After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage,” Pulte said.

“Today is a historic day in the cryptocurrency industry and the mortgage industry, whereby Fannie Mae and Freddie Mac are now positioned to involve Cryptocurrencies in Mortgages,” he added. “Thank you President Trump for making the USA the crypto capital of the world!”

Crypto Advocates Celebrate Mainstream Adoption Win

Following the news, several key players across the digital asset industry celebrated the FHFA’s latest move.

Strategy founder Michael Saylor took to social media to praise Pulte’s decision, calling it a “defining moment for institutional BTC adoption and collateral recognition.”

“A truly historic day,” Saylor said. “The U.S. mortgage industry leads—and the global banking system will follow.”

Blockchain real estate company Propy also hailed the FHFA’s crypto consideration, labeling it a “huge step forward for crypto adoption in real estate.”

“Regulators are moving,” a Wednesday afternoon X post from Propy’s official account reads. “Markets are watching.”

With over 55 million Americans owning digital assets, it may only be a matter of time before crypto begins to play a mainstream role in unlocking access to homeownership.

The Worldcoin project faces legal challenges in Kenya after the court ordered the removal of collected user biometric data. Meanwhile, the controversial crypto exchange CBEX has attempted to restart, further scrutinizing after a recent failure. In Nigeria, the Zone Blockchain Network is partnering with two Fintech platforms to increase payment efficiency.

Explore these headlines from the continent this week.

Kenya Crypto News: WorldCoin has been ordered to delete biometric data

A Kenyan court ordered WorldCoin, a project by Sam Altman, to remove biometric user data collected from citizens.

This command Continue A few months of government scrutiny on Worldcoin’s activities within the country. The platform attracted attention for its controversial orbs. This was when users scanned Retinas and accessed them in exchange for free ciphers.

Judge Rose Abrili on Monday ruled that the data collection was illegal and violated Kenya’s data protection law. The court found that providing free code constitutes an incentive and undermines informed consent.

WorldCoin has seven days to delete data collected under the supervision of the authorities. This setback complicates Worldcoin’s business in Kenya, with analysts closely monitoring the impact on WLD. Supporters are the coins in it The best cipher to buy Second quarter 2025.

(wldusdt)

Discovered: Top 20 Cryptography to Buy in May 2025

African Crypto News: CBEX attempts to restart

The controversial crypto exchange CBEX is attempting to reboot to restore investor trust. Platform announcement A new withdrawal option after a chaotic month in which its activities were scrutinized amid fears of fraudulent manipulation.

Nigerian authorities have charged eight individuals, including four Kenyans, with allegedly being behind the operation.

CBEX is currently trying to alleviate concerns about a potential collapse. For weeks, users were unable to withdraw funds, driving controversy over their business model.

However, the new plan is controversial. Users over $1,000 on the platform will need to pay a $100 fee to withdraw up to 50% of their initial deposits.

Has CBEX crashed?

Someone had $89,000 locked inside the platform and since then he was unacceptable.

Even if we retreated for this sad development and CBEX users, this was CBEX’s office in Ikeja this afternoon.

To know that there are so many foolish people in our country… pic.twitter.com/dp0p0abyn0

– abode (@iamabode) April 11, 2025

Requiring users to pay to access funds adds further doubt to companies that are already under scrutiny due to an overly generous promise.

It is unlikely that this reboot attempt will restore its reputation as authorities continue to investigate its operations.

Nigeria Crypto News: Accelerex and ITEX join zone blockchain

Available on Nigerian fintech platforms Accelerex and ITEX Participation Regulated zone blockchain.

This partnership leverages the robust infrastructure of the zone to eliminate transactional obstacles and streamline payments. Some of these funds are Hottest Presale of 2025.

Nigerian leading PTSPs Accelerex and ITEX have joined the zone payment network! Here’s the future of payments. #wearezone #connecttotheFuture pic.twitter.com/99ctcveb1k

– Zone (@zonenetworkhq) May 5, 2025

Accelerex and ITEX provide terminals across Nigeria for quick cash withdrawals via debit cards or mobile transfers.

Processing transactions in a chain reduces dependency on third-party processors and reduces operational costs. This efficiency is consistent with the business model of these fintech companies, which prioritize user convenience.

Discover: 17 Next Cryptocurrency Explosions in 2025: Experts’ Cryptocurrency Prediction and Analysis

African Cryptography Week after Review: A Kenyan court ordered worldcoin to delete biometric data, restarting the CBEX plan, Nigerian Fintech joined the zone blockchain, first appearing in 99 Bitcoin.

order Transactions within a block have no effect on transaction fees or block rewards.

Therefore, miners can change the order of transactions if necessary, without modifying Coinbase transactions. Coinbase is always the first transaction.

As you say, the order of the leaves in the calculation of the Merkle route is naturally the same as the order of transactions within the block.

Therefore, payment/incentives for fees do not affect trading orders (except Coinbase) and vice versa. Transactional orders do not affect payment/incentives of fees.

Dear dear customer,

Due to the tight supply chain, some L7, Z15, E7, and DR5 orders are not being shipped as planned. We sincerely apologise and compensate our customers accordingly. The compensation amount is as specified in the contract, and any deferred payments entitled a daily reward rate of 0.0333%. The reward amount will be issued as a coupon to the user’s account after the shipment is delivered.

Thank you Antminer for your continued support! We strive to provide our customers with excellent products!

Bit Main

January 12, 2022

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WTF?! It’s ironic how, in the information age, governments slap hefty fines on companies for not adequately securing user data but, in the same breath, demand that these companies give state agencies unrestricted access to the very same data. No matter what country you are from, warrantless mass surveillance is wrong. George Orwell’s 1984 was a warning, not an instruction manual.

The British government has ordered Apple to allow blanket access to user data stored online. The “technical capability notice” demands a backdoor into its encrypted iCloud services, which state agencies can use to access backups of any global customer without a court order. The UK Home Office issued the decree under the Investigatory Powers Act of 2016, aptly referred to as the “Snoopers’ Charter.”

The UK’s Investigatory Powers Act allows agencies to compel technology companies to assist in intercepting and obtaining communications data. While it is meant to expedite criminal investigations, the notice Apple received extends beyond targeted data requests. Instead, the government wants full access to all encrypted information. The demand challenges Apple’s Advanced Data Protection feature, which ensures only validated users can access their data. Even Apple personnel cannot decrypt customer accounts.

The Irish Sun asked Apple for comment, but a spokesperson said that the company could not legally reveal details of the notice. A representative for the UK’s Home Office was equally reluctant to share.

“We do not comment on operational matters, including, for example, confirming or denying the existence of any such notices,” the spokesperson said.

Apple has consistently maintained a firm stance on user privacy, asserting that it will not create backdoors into its products. It prominently fought the US government over the same issue multiple times after receiving demands from the FBI insisting it crack the phones of suspected criminals.

Breaking: UK Government orders Apple to let them spy on users’ encrypted messages

“We are extremely troubled by reports that the UK government has ordered Apple to create a backdoor that would effectively break encryption for millions of users – an unprecedented attack on… pic.twitter.com/sYzQSQClRe

– Big Brother Watch (@BigBrotherWatch) February 7, 2025

As it has in the past, Apple has indicated a refusal to comply with the order, suggesting it might withdraw certain security features from the UK market rather than compromise its global security standards. It is too early to tell if Cupertino’s counterproposal will sway UK officials. However, it is most certainly to gain support from British iPhone owners, who will likely apply pressure against this invasion of privacy.

Critics argue that obliging Apple to create a backdoor could set a dangerous precedent, potentially leading other countries to demand similar access. This situation has global cybersecurity implications and likely conflicts with other nations’ privacy laws. Civil liberties group Big Brother Watch calls the order a severe threat to privacy rights and has called for its withdrawal.

“We are extremely troubled by reports that the UK Government has ordered Apple to create a backdoor that would effectively break encryption for millions of users,” said Rebecca Vincent, Big Brother Watch’s interim director of privacy. “[This is] an unprecedented attack on privacy rights that has no place in any democracy.”

Apple is not the first firm to face the UK’s controversial stance on encryption. In 2023, encrypted messaging companies WhatsApp and Signal threatened to exit the UK market rather than compromise encryption protocols. This newest development against Apple could further strain relationships between the UK government and technology firms.

Image credit: Electronic Frontier Foundation

Carbon DeFi introduces a new way to trade onchain with Automated Recurring Limit Orders.

Strategy makers on Carbon DeFi have the ability to create two separate limit orders, one to buy a token and the other to sell a token, at whatever price points they choose.

These two orders are then linked together. Linked orders result in acquired funds automatically rotating between them, creating an endless trading cycle without need for manual intervention.

Whether partially or fully filled, trades are irreversible, and makers no longer need to worry about an order being undone should the market retrace. Tokens will only be available to take at the price specified by the maker. Because the price quoted by the maker is exactly what they receive when the trade is executed, makers suffer no slippage on filled orders. In addition, makers on Carbon DeFi pay no gas when the trade is executed, and there are currently no maker fees on Carbon DeFi.

Order Prices:

For each order, makers have the ability to choose a single specified price or a range of prices to buy and sell their tokens.

The option to create a range limit order has multiple benefits. For example, makers on Carbon DeFi now have the means to scale in or out of a position without the need to create multiple orders within two desired price points.

Single limit order example: Buy ETH at $1600.

Range limit order example: Buy ETH between $1625 and $1575.

If a range order is filled, partially or completely, the cost basis for the specified range is equal to the geometric mean of the highest and lowest price boundaries where a trade took place.

Single limit order example: Buy ETH at $1600. Cost basis equals $1600 per ETH.

Range limit order example: Buy ETH between $1625 and $1575. Cost basis equals $1599.80 per ETH.

Funding:

Makers have the option to fund one or both orders.

With zero obligation to fund both orders, users have the ability to create a limit order with funds they don’t yet have.

For example, a maker may create an $ETH/$wBTC automated recurring limit order as follows:

Set a specific price for an ETH buy order funded with 1 wBTC. Set a specified price for a wBTC sell order funded with zero ETH. These orders are now linked.

As the wBTC is traded for ETH, the newly acquired ETH automatically rotates to fund the sell order. This ETH is now available for takers to trade against at the desired price originally set by the maker at the time of creation.

Management:

After a strategy is created, it will appear on the “My Strategies” page.

Carbon DeFi provides makers with multiple ways of easily managing automated recurring limit orders in a gas efficient manner.

Modify Pricing: Modify pricing allows makers to quickly adjust the prices they choose to buy and sell their tokens, all without having to cancel orders, withdraw funds, redeposit funds, or create new orders.

Add Funds: Funds may be added to existing orders at any point.

Withdraw Funds: Funds may be partially withdrawn or withdrawn in full. Makers may wish to downsize their position and withdrawing partial funds allows for this without the need to withdraw full funds, cancel orders, redeposit funds, and recreate orders.

Withdrawing full funds is an option for makers who may wish to trade this token pair in the future. Withdrawing, rather than deleting, gives makers the ability to create a similar strategy in the future without the need to re-mint an NFT.

Pause: Pausing trading means tokens within the respective recurring limit order are no longer available for takers to trade against.

Unpause: Reactivate trading at the maker’s desired price points.

Delete: Orders may be deleted when makers no longer wish to trade the specific token pair within the strategy and have no plan of trading that particular pair in the future.

Security

Automated recurring limit orders are native to Carbon DeFi and require no oracles or hooks, eliminating the risk of oracle extractable value (OEV) and other major security concerns in DeFi. In addition, Carbon DeFi has undergone three extensive audits prior to release.

Create your first Automated Recurring Limit Orders now at Carbon DeFi!

Additional Resources on Carbon DeFi and Automated Recurring Limit Orders

Interested in collaborating with Carbon DeFi? We’d love to hear from you. Please reach out at bizdev@Bancor.network