SEC Sues Binance, CZ for Securities Violations
The U.S. Securities and Exchange Commission (SEC) has taken legal action against Binance and its CEO, Changpeng Zhao (CZ). According to a Bloomberg article, the SEC has filed a lawsuit against Binance Exchange and CZ for violating U.S. securities laws. The lawsuit covers both the foreign and U.S. activities of the trading platform. The SEC […]
South Korea To Implement System That Freezes Funds On Top Crypto Exchanges
The National Police Agency of South Korea will meet with Binance and the top five cryptocurrency exchanges in South Korea to discuss plans to implement a system with real-time wallet address monitoring and freeze funds capabilities. Local news outlets reported that the National Police Agency would hold a virtual asset exchange working meeting with Binance […]
Binance Appoints New Head For International Market Expansion
Binance appoints Richard Teng to head international markets, excluding the US, driving global expansion and compliance in Global Markets. This promotion expands his prior responsibilities as the leader of Asia, Europe, the Middle East, and North Africa. Teng joined Binance in August 2021 as the Singapore Regional CEO and has since rapidly risen through the […]
Binance Rejects Deposits for 10 Bridge Token Networks
The world’s largest cryptocurrency exchange, Binance, disclosed it will temporarily Suspends Deposits for ten bridge token networks. Binance took to Twitter on May 25 to notify its users of the temporary suspension of deposits for some bridge token networks. POLS-BSC, ACH-BSC, BIFI-FTM, SUPER-BSC, AVA-ETH, SPELL-AVAXC, ALPACA-FTM, FTM-ETH, FARM-BSC, and DEXE-BSC are among the affected networks. […]
Binance Refutes Claims Of Misusing Customer Funds
The crypto exchange denies violating U.S. banking rules by combining customer deposits and company revenue, as alleged by a Reuters report. According to a Reuters report, citing three former insiders in 2020 and 2021, Binance commingled customer funds with company revenue in violation of U.S. financial rules that require customer funds to be kept separate. […]