Binance stops futures trading for Brazillian clients
Binance has announced that trading of futures contracts on its Brazilian platform would be suspended as of Friday in order to comply with local legislation. The news comes after the country announced the need to regulate cryptocurrencies. According to a Binance representative, the decision is based on an order from Brazilian regulators. “Binance put limits […]
Binance users to be subjected to immediate KYC verification amid ongoing scrutiny
Binance has been the target of regulatory scrutiny from countries all around the world, allegedly conducting unlicensed companies. The crypto exchange has publicly announced new know your customer (KYC) criteria for all users on the site as a response to the continuing scrutiny. “Effective immediately, all new users are required to complete Intermediate Verification to […]
Binance crypto exchange outage causes traders to lose millions
Several investors are suing for damages as a result of Binance’s crypto exchange outage that has caused losses worth millions of dollars. The exchange’s policy allows for compensation on trading losses caused by system errors. Binance’s policy allows investors to get compensation on trading losses due to system or internal issues but does not cover […]
Coinbase stockpiles a $4B war chest in anticipation of the ‘crypto winter’
Coinbase, the largest US cryptocurrency exchange, has amassed a $4 billion war fund in anticipation of lower crypto retail trading volumes and greater operational expenses due to regulatory barriers. It apparently intends to utilise the funds to offset expenditures incurred as a result of a range of circumstances, including complying with new laws enacted by […]
Binance is operating without a license in the Netherlands
Apparently, the days of regulatory woes for Binance are not over, although there was a little pause, the Dutch central bank has come out to say that the exchange is working without a registered license in the country. According to the Dutch central bank, De Nederlandsche Bank (DNB) , Binance is operating in the Netherlands […]