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 […]
Binance partners with The Weeknd to Unveil Metaverse Experience
Binance, the company currently facing legal action from the SEC, has announced its plans to launch a new digital metaverse that focuses on entertainment. The project has been in development since June 2022 and involves collaboration with Canadian musician The Weeknd, who is about to start his “After Hours Til Dawn” tour. According to information […]
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 […]
Crypto Exchanges Pledge $2.5B to Users Protection Fund
According to a new report published on June 14 by blockchain analytics firm Nansen, most reputable crypto exchanges have adopted user protection funds in the wake of the collapse of FTX. Crypto exchanges such as Binance, OKX, and Bitget have nominal fiat protection funds totaling more than $2 billion. 20,000 Bitcoin backs Huobi’s insurance fund, […]