Tag: Binance

Binance reverses decision to delist privacy coins in Europe

Binance has decided to reverse its plan to delist a number of privacy coins in Europe after it said it has revised operations in order to comply with local regulations.  In a comment from the cryptocurrency exchange recevied on June 26, Binance said that: “After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements.” It also commented that since it operates as an exchange registered in various EU jurisdictions, it is “obliged” to…

Binance eyes United Arab Emirates as ‘focal point’ for future operations

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The United Arab Emirates is becoming the next big focus for Binance in the wake of a slew of enforcement actions in the United States against the crypto exchange. Speaking to Cointelegraph, Binance Dubai general manager Alex Chehade said the UAE is a prime destination for crypto businesses seeking a clear path forward and noted its friendly stance toward digital assets. “Binance identified that the senior leadership of the UAE wanted to establish the region as a focal point for Web3. They’re trying to diversify away from fossil fuels and…

Global regulators scrutinizing Binance, bitcoin breaks above $31,000 on rising institutional adoption| Weekly recap

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Binance faced more regulatory challenges worldwide, particularly in the UK and Belgium, which increased the scrutiny on the exchange. Despite the ongoing regulatory issues in the crypto industry, there was a significant increase in institutional adoption of cryptocurrencies during the week as Mastercard and J.P. Morgan expanded their involvement in the field. This wave of institutional adoption and renewed market confidence catalyzed the crypto market’s recovery. Bitcoin (BTC), the flagship cryptocurrency, was resilient as it surged above the $31,000 mark, rallying to the highest level this year. Binance’s regulatory issues…

Belgian financial regulator orders Binance to cease all virtual currency services

The Belgian Financial Services and Markets Authority (FSMA) has ordered major cryptocurrency exchange Binance to stop offering crypto exchange and custody wallet services.  In a June 23 notice, the FSMA said that by Binance offering crypto-related services “from countries that are not members of the European Economic Area,” the exchange was violating Belgian laws on anti-money laundering (AML) and combating the financing of terrorism (CFT). The financial regulator said Binance must cease “with immediate effect” all related services in Belgium. According to the FSMA, Binance controlled an estimated 19 companies…

SEC Sought Freeze Order Despite ‘No Evidence’ That Binance Was Moving U.S. Customer Funds

“There are a lot of details about amounts transferred and where they went…” Barrett asked the SEC’s lawyers. “You say these funds consisted in significant part of Binance platforms, plural, customer assets, including those of Binance.US … Can you clarify or walk me through the transfers you allege were made specifically from the U.S. entities, as opposed to the international Binance platform, to offshore accounts held by Zhao, and how you know that those were customer assets?” Source

Binance Hires Former Justice Department Prosecutor in Fight with SEC

Kendall Day led the department’s efforts to combat money laundering, including dealing with charges related to money laundering, deferred prosecution agreement, etc. Amid its ongoing legal fight with the US Securities and Exchange Commission (SEC), crypto exchange Binance has hired a former white-collar prosecutor of the Department of Justice (DoJ), as per the court filing on Thursday, June 22. M. Kendall Day, a partner at Gibson Dunn & Crutcher’s Washington DC office, will serve as counsel for Binance in the SEC case. Previously, Day worked for 15 years as the…

Binance engages former DOJ prosecutor to counter SEC allegations

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance has enlisted the expertise of a former attorney from the Department of Justice (DOJ) to mount a defense against the lawsuit filed by the Securities and Exchange Commission (SEC). According to Bloomberg, M. Kendall Day has been appointed as Binance’s legal counsel in their ongoing lawsuit with the SEC. His credentials on the Gibson Dunn website indicate that before joining the firm as a partner in its Washington, D.C. branch, Day served as an acting deputy assistant…

More regulatory action for Binance, Brazil’s branch director summoned

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The CPI, a Brazilian regulator, has sought the presence of Guilherme Haddad Nazar, the general director of Binance brokerage in Brazil, as a witness. Deputy Alfredo Gaspar has presented a motion, and the rest of the CPI will vote on it and debate it at their next meeting on June 27.  Integrante da CPI quer que Guilherme Haddad Nazar deponha na condição de testemunha; executivo é sobrinho do ministro da Fazenda, Fernando Haddadhttps://t.co/xn3tHREeED — Portal do…

Binance Unveils Local Digital Asset Platform in Kazakhstan

According to the General Manager of Binance Kazakhstan Zhaslan Madiyev, the platform has joint forces with five regulatory bodies in the country. As always, the popular crypto exchange Binance is expanding its horizon by launching a regulated platform in Kazakhstan. The company announced the new local digital asset platform in the country on June 20th after receiving a go-ahead in October last year. At the Astana International Financial Center (AIFC) in 2022, the AIFC Financial Services Authority (AFSA) gave crypto exchanges the license to manage a digital asset platform and…