Germany’s BaFin Rejects Binance Crypto Custody License
Binance, a major cryptocurrency exchange, recently faced setbacks in pursuing licenses and regulatory approvals in Europe. The German financial regulator, BaFin, reportedly denied Binance’s request for a cryptocurrency custody license . Binance claims to be working towards complying with BaFin’s rules. However, it is still being determined whether they communicated this refusal through ongoing conversations […]
Binance Loses European Banking Partner Paysafe
Paysafe Payment Solutions, the current euro banking partner of the cryptocurrency exchange Binance, informed users that they would no longer be supported. Binance sent customer letters stating that Paysafe’s euro support would end after September 25, 2023. The letters did not mention the new service provider, but they said that there would be changes for […]
Binance Reconsiders Plan to Delist Privacy Coins in Europe
Binance has reversed its decision to delist several privacy coins in Europe after considering feedback from the community and announcing that it has revised its operations to comply with local regulations. In a comment received on June 26 from the cryptocurrency exchange, Binance stated: “After carefully considering feedback from our community and several projects, we […]
Binance raises staking requirements for Cosmos, Polkadot, Solana
Binance has recently increased the minimum staking requirements for several well-known cryptocurrencies such as Solana (SOL), Polkadot (DOT), and Cosmos (ATOM) in their earning products. Binance offers various earning products, including Locked Savings and Flexible Savings, which allows token holders to earn passive income from their cryptocurrency holdings. In Flexible Savings, users can lock their […]
Binance Blocks Sanctioned Users with Advanced Tech
The crypto exchange claims it has invested millions in a compliance program and uses IP blocking, VPN detection, and other tools to prevent access from blocked jurisdictions. Binance, one of the largest crypto exchanges in the world, has published a post by its Global Head of Sanctions, Chagri Poyraz, detailing how it prevents users from […]