Tag: Binance

Binance, CZ challenge CFTC lawsuit, seek dismissal

boss

Crypto exchange Binance and its CEO Changpeng “CZ” Zhao requested the dismissal of a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC). In a July 27 court filing, attorneys for Binance and CZ accused the CFTC of exceeding its regulatory authority and engaging in regulatory overreach. The filing states that the CFTC is attempting to regulate foreign individuals and corporations operating outside the United States, which goes beyond the limits of its statutory jurisdiction and interferes with well-established principles of comity with foreign sovereigns. Screenshot of the…

CFTC Overreached in Suing Binance, Crypto Exchange Says

boss

The filing leans heavily on the view that the CFTC is overreaching in suing Binance, which does not operate in the U.S., and its CEO Changpeng “CZ” Zhao, who does not reside in the U.S., the filing said. The first six of the CFTC’s charges “do not apply to the foreign conduct alleged here,” and several of the charges don’t meet the legal standards set out by statutory requirements, it added. Source

Binance and Changpeng Zhao Look To File Motions Compelling the CFTC To Dismiss Lawsuit Against Crypto Exchange

boss

Crypto exchange Binance and its CEO Changpeng Zhao are planning to submit legal motions requesting the dismissal of the Commodity Futures Trading Commission’s (CFTC) lawsuit against the company. According to a new court filing, several Binance business entities, Zhao and Binance’s former chief compliance officer Samuel Lim intend to file two separate motions by July 27th asking the judge to dismiss the lawsuit. The CFTC filed the complaint against Binance in March alleging a long list of regulatory violations, including that the exchange did not properly register with the regulator.…

Binance Rolls Out Zero-Fee Stablecoin But Hits Pause Soon After: Here’s Why

boss

First Digital USD (FDUSD), a newly introduced stablecoin scheduled to make its debut on Binance on Wednesday has now faced a halt due to technical difficulties. A Bumpy Start To The FDUSD Journey The expected listing of FDUSD on Binance was initially set for July 26, 2023. To incentivize traders, Binance planned to offer zero maker fees for all FDUSD trading pairs. However, due to technical issues encountered by the FDUSD pairs’ liquidity providers, the launch was postponed. Related Reading: Binance Pool’s Litecoin Hash Rate Falls 50%: What’s Next? Trading…

Binance Pulls Back German Crypto License Application

“Binance confirms that it has proactively withdrawn its BaFin application,” a spokesperson told CoinDesk in an emailed statement. “The situation, both in the global market and regulation, has changed significantly. Binance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes.” Source

Binance lists new zero trading fee stablecoin, halts shortly after on technical issues

boss

The recently introduced stablecoin, FDUSD, which was scheduled to be listed on Binance on July 26, 2023, at 08:00 (UTC), enabling trading for FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs has now been postponed to restart at 2023-07-26 14:00 (UTC) due to FDUSD pairs’ liquidity providers experiencing technical issues. Binance released a statement that it will halt trading for First Digital USD (FDUSD) on 2023-07-26 09:45 (UTC) and cancel all pending FDUSD orders, to ensure its users’ protection. First Digital Group announced the launch of the First Digital USD…

Binance to Reenter Japan in August 2 Years After FSA Warning, CZ Says

“It’s fantastic to see Japan being a leader in the Web3 regulatory environment … and I think it’s an example for the rest of the world to follow,” Zhao said. “And to that end, Binance is extremely happy to be able to participate in the Japanese market again, from the acquisition of the SEBC platform last November, and we were going to launch the full service in August.” He was speaking at the Web3 conference “WebX” held at the Tokyo International Forum through a video message, later tweeted by Binance.…

Binance to launch Japanese crypto services in August

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance will re-enter the Japanese market for the first time since 2018 following its November 2022 acquisition of Sakura Exchange BitCoin. Crypto exchange titan Binance will launch fully compliant digital asset services for users in Japan by August after the company was forced to exit the country back in 2018 due to regulatory issues. According to a Bloomberg report, the company’s re-entry into the Japanese market follows a takeover of locally regulated digital trading venue Sakura…

Miami Heat’s Jimmy Butler seeks dismissal from Binance promo class suit

boss

Professional basketball player and Miami Heat’s Jimmy Butler has asked to be dismissed from a class action lawsuit targeting celebrities involved in the alleged promotion of unregistered securities by Binance, saying tweets he appeared in did not promote the named securities. In a July 24 filing, Butler’s lawyers argued three tweets he appeared in promoting Binance between Feb. 2 and 13, 2022, did not mention alleged unregistered securities and in turn could not have helped to promote them. They asserted Butler’s tweets did not recommend any investment and instead warned of…

Japan PM reaffirms Web3 plans as Binance announces imminent launch

Japananese prime minister Fumio Kishida reaffirmed the country’s commitment to foster the Web3 industry, highlighting its potential to transform the internet and kindle social change.  Kishida made the comments in a keynote address on day one of the WebX conference in Tokyo, Japan as initially reported by local media outlet CoinPost. On the same day, Binance CEO Changpeng Zhao announced the cryptocurrency exchange would launch its services on a new Japanese platform in August 2023. Japanese Prime Minister Fumio Kishida addresses at #webx “Web3 is part of the New Form…