{"id":6885,"date":"2021-07-30T13:11:47","date_gmt":"2021-07-30T12:11:47","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=6885"},"modified":"2021-07-30T13:12:01","modified_gmt":"2021-07-30T12:12:01","slug":"binance-banned-in-malaysia-for-illegal-operations","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-banned-in-malaysia-for-illegal-operations\/","title":{"rendered":"Binance banned in Malaysia for illegal operations"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\"><a href=\"https:\/\/coinscreed.com\/staging\/state-street-to-provide-crypto-services-for-private-funds-clients.html\" data-type=\"post\" data-id=\"6881\">Malaysia becomes the next country<\/a> to regulate the activities of Binance. This comes after several nations have also regulated and even banned the crypto exchange, these regulations don't seem to be ending anytime soon. <\/h5>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/Binance-banned-in-Malaysia-for-illegal-operations-1024x576.jpg\" alt=\"\" class=\"wp-image-6886\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/Binance-banned-in-Malaysia-for-illegal-operations-1024x576.jpg 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/Binance-banned-in-Malaysia-for-illegal-operations-300x169.jpg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/Binance-banned-in-Malaysia-for-illegal-operations-768x432.jpg 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/Binance-banned-in-Malaysia-for-illegal-operations-355x200.jpg 355w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/Binance-banned-in-Malaysia-for-illegal-operations-scaled.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The Securities Commission of Malaysia (SC) has ordered<a href=\"https:\/\/www.google.com\/search?q=Binance+banned+in+Malaysia+for+illegal+operations&source=lmns&bih=568&biw=1366&rlz=1C1SQJL_enNG889NG889&hl=en-GB&sa=X&ved=2ahUKEwjwo4i13oryAhUahqQKHYIPBTwQ_AUoAHoECAEQAA\" target=\"_blank\" rel=\"noopener\"> Binance to face enforcement action<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> for illegally running a Digital Asset Exchange (DAX) without first getting the SC's licence.<\/p>\n\n\n\n<p>The exchange was also given a public censure for continuing to operate despite being placed on the SC's &#8220;investor alert list&#8221; in July 2020.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The regulatory head of Malaysia has asked Binance to<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>disable the Binance website (www.binance.com) and mobile applications in Malaysia within 14 business days from 26 July 2021;<\/li><li>immediately cease all media and marketing activities, including circulating, publishing, or sending any advertisements and\/or other marketing material, whether via emails or otherwise, to Malaysian investors; and<\/li><li>immediately restrict Malaysian investors from accessing Binance\u2019s Telegram group<\/li><\/ul>\n\n\n\n<p>Investors should be aware of unlawful DAX and report any suspicious activity or phone calls for cryptocurrency investing advice, according to the regulatory agency. According to the agency's official statement,<\/p>\n\n\n\n<p>\u201cInvestors are advised to stop dealing with and<a href=\"https:\/\/coinscreed.com\/staging\/lolli-closes-a-10m-investment-funding-round.html\" data-type=\"post\" data-id=\"6830\"> investing through illegal DAX<\/a>. Those who currently have accounts with Binance are strongly urged to immediately cease trading through its platforms and to withdraw all their investments immediately.\u201d<\/p>\n\n\n\n<p>Over the last month, an increasing number of regulators have issued regulatory warnings or initiated enforcement measures against the crypto exchange.<\/p>\n\n\n\n<p>The Thai Securities and Exchange Commission (SEC) has already filed criminal charges against the exchange for operating without permission.<\/p>\n\n\n\n<p><a href=\"https:\/\/coinscreed.com\/staging\/in-compliance-with-the-crypto-crackdown-the-chinese-central-bank-shuts-down-software-company.html\" data-type=\"post\" data-id=\"5035\">Non-compliance warnings<\/a> have also been issued by regulators in the United Kingdom, Japan, Italy, Hong Kong, the Cayman Islands, and a few other countries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Malaysia becomes the next country to regulate the activities of Binance. This comes after several nations have also regulated and even banned the crypto exchange, these regulations don&#8217;t seem to be ending anytime soon. The Securities Commission of Malaysia (SC) has ordered Binance to face enforcement action for illegally running a Digital Asset Exchange (DAX) [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":6886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[326,1554,1502],"class_list":["post-6885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance","tag-binance","tag-malaysia","tag-regulation"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/Binance-banned-in-Malaysia-for-illegal-operations-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/6885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=6885"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/6885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/6886"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=6885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=6885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=6885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}