Binance Withdraws Registration With the UK FCA
Amid regulatory scrutiny the crypto exchange has recently faced, Binance has discontinued its registration with the UK’s FCA in response to global regulators’ persistent resistance. The UK-based subsidiary of Binance, Binance Markets Limited (BML), has officially canceled its registration with the Financial Conduct Authority (FCA). The FCA stated on its website that no Binance entity […]
Binance Issues Cease and Desist Order to Scam Nigerian Company
The CEO of Binance, Changpeng Zhao, has announced that Binance has formally issued a cease and desist order to the fraudulent organization known as Binance Nigeria Limited. Sunday, June 18, Zhao announced via Twitter. The Nigerian Securities and Exchange Commission (SEC) issued a circular on June 9 stating that Binance Nigeria Limited is unlawful in […]
US Court Approves SEC, Binance.US Agreement
The proposed agreement between Binance, Binance.US and the US SEC to limit access between corporations was signed by Judge Amy Berman Jackson. This agreement aims to limit access between the companies. The agreement specifies that only Binance.US staff will have access to customer assets on the US-based cryptocurrency exchange. Binance Global will deny executives access […]
Binance.US Reportedly Cuts 50 Staff Following SEC Charges
Binance.US, the American counterpart of Binance, recently laid off approximately 50 employees from its legal, compliance, and risk departments. This decision comes from regulatory accusations of securities law violations against the company. According to sources and employee social media posts, Binance.US has initiated a series of staff reductions. The allegations have also led to a […]
Binance to leave Netherlands after failing to acquire VASP license
Binance is leaving the Netherlands because it failed to obtain a virtual asset service provider (VASP) license. The company has informed its Dutch customers about this decision. Starting July 17, existing customers can only withdraw funds from the platform. Trading, deposits, and purchases will no longer be possible. Binance expressed disappointment about the situation but […]