Binance’s Cyprus Unit Seeks Deregistration as Service Provider
Binance has applied to have its registration as a distributor of crypto assets revoked in its Cyprus office, as reported by the nation’s securities commission. The commission did not provide any explanations for the application. Binance is a prominent player in the cryptocurrency industry and operates in several countries, including Cyprus, where it offers a […]
Venus Protocol Eyes BNB Liquidation as Price Drops
Venus Protocol, a decentralized lending platform on Binance Smart Chain, has announced its readiness to liquidate a large BNB position belonging to a hacker potentially. The protocol said that if the BNB falls below $220, the Binance Chain core team will take over the position without affecting the protocol or its users. The hacker’s BNB […]
Nigeria SEC declares Binance operations in country illegal
The SEC clarified that it has no authority to regulate or authorize Binance Nigeria, making its operations in the country unlawful. The SEC, as the primary regulatory body for investor protection, emphasized the risks associated with using unregistered platforms like Binance Nigeria. It advised investors to exercise caution when dealing with digital assets and related […]
Binance to Stop Crypto Margin Trading, Earn Related Services
On June 13, Binance announced scheduled system changes that will affect Margin and Select Earn products. As a result, certain services will be temporarily unavailable during the upgrade period from 06:00 to 07:00 UTC. To ensure user safety and prevent liquidation risks, Binance will suspend trading, borrowing, repayment, and fund transfers between Margin wallets and […]
SEC Chair Offers to Serve as Advisor to Binance – Report
Amidst the SEC-Binance lawsuit, Binance’s attorneys have revealed that the Chairman of the Securities and Exchange Commission, Gary Gensler, had offered to serve as an advisor to the crypto exchange in 2019. According to documents filed by the SEC on Wednesday, attorneys from two of Binance’s law firms, Gibson Dunn and Latham & Watkins, allege […]