Tag: Binance

Binance pushes new stablecoin as it confirms plan to cease BUSD support

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Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD.  In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gradually stop support for BUSD by February 2024 — a decision in line with Paxos’ plans to end BUSD redemption at that time.  The official statement is the first time Binance has addressed the subject after several users shared screenshots of a pop-up on their mobile…

Binance To Delist Eight BUSD Trading Pairs Soon, End Full BUSD Support By 2024

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The world’s largest exchange, Binance, has announced plans to delist eight Binance USD (BUSD) trading pairs as the company looks to withdraw full support of the stablecoin by 2024. This follows increased regulatory pressure on the stablecoin in 2023, which has led to a drastic decline in its market share so far.  Binance To Delete Nine Margin Trading Pairs By September 7 In a blog post on Wednesday, Binance laid out intentions to delist eight BUSD cross margin and isolated trading pairs. These include AMB/BUSD, DASH/BUSD, FIDA/BUSD, HARD/BUSD, HOT/BUSD, NULS/BUSD,…

Former SEC official hints at criminal probe in sealed Binance case

The SEC has requested permission to submit undisclosed documents under seal in its civil lawsuit against Binance, Binance.US, and CEO Changpeng Zhao. The U.S. Securities and Exchange Commission (SEC) submitted a request to the U.S. District Court for the District of Columbia, asking for permission to file certain documents under seal in its civil case against Binance, its U.S. subsidiary Binance.US, and the CEO, Changpeng Zhao (CZ). The content of the SEC’s motion itself is sealed, sparking speculation around the possibility of sensitive or potentially incriminating details. Former SEC official…

Binance launches a new entity in Poland

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance has announced the launch of a new entity in Poland known as Poland sp. z o.o, with its main focus on the Belgium market. The Belgian Financial Services and Markets Authority (FSMA) recently ordered the company to stop offering its services in Belgium due to violating internal compliance laws. With the creation of its new entity in Poland, the company will be able to continue offering its services to Belgian residents. Binance explained that Belgian…

Sealing docs in Binance case could suggest a criminal probe, says former SEC official

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The legal team representing the United States Securities and Exchange Commission (SEC) in its civil case against Binance is requesting the court grant a motion to allow documents filed under seal. In an Aug. 28 filing in U.S. District Court for the District of Columbia, the SEC petitioned a federal judge for leave to file documents under seal in the commission’s case against Binance, Binance.US, and Binance CEO Changpeng Zhao (CZ). The motion itself was under seal, leading to speculation that the SEC intended to make filings with sensitive information.…

SEC’s Secret Binance Court Filing Has Observers Bracing for Bad News

“Under any circumstance, that this SEC seal-seeking filing is unusual, odd and uncommon cannot be overstated,” Stark wrote. “In my almost 20 years in the SEC Enforcement Division, including 11 years as Chief of the SEC’s Office of Internet Enforcement, our team worked on and led a broad range of SEC investigations which involved parallel U.S. DOJ investigations and lots of litigation – and I can’t recall ever seeking to file a motion or any other court document under seal.” Source

Binance excludes Banco de Venezuela from P2P payments

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The world’s largest crypto exchange, Binance, has removed Banco de Venezuela as a payment method on its peer-to-peer (P2P) trading service. This follows similar moves with sanctioned Russian banks last week and is likely part of efforts to fall in line with international financial sanctions. According to Venezuelan users, Banco de Venezuela has vanished from the P2P payments options this week, following a series of such removals of Russian banks by Binance. The obvious reason behind this step is the Aug. 24 Wall Street Journal report about the exchange’s participation…

Binance considers exit from Russia following sanction violations

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The world’s largest crypto exchange is reportedly reevaluating its business in Russia. One of the options on the table is a full withdrawal from the Russian market. Potential for a full exit According to the Wall Street Journal, a spokesperson from Binance shared that all options are on the table, which includes the possibility of the platform to make a full exit from the Russian market. Although Binance has acknowledged their previous failures in compliance, they…