Tag: Binance

Binance delists PEPE from its loan product 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance has announced the delisting of the PEPE meme coin from its Flexible Loan product. The company has advised users to repay all outstanding PEPE loans before June 26 to avoid potential liquidation. Binance, the world’s largest bitcoin (BTC) trading venue and leading blockchain ecosystem, has relinquished support for PEPE as a borrowable asset in its Flexible Loan product. The exchange announced that all outstanding PEPE loan positions of Binance’s Flexible Loan market participants will be…

Binance to exit Netherlands after failing to obtain registration

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto exchange giant Binance announced that it would no longer service users in the Netherlands after the company failed to get a license from Dutch regulators.  Binance has notified its Dutch customers about the company’s plan to leave the Netherlands. According to an announcement, existing users will be allowed to use only the withdrawal function on the platform from July 17, stating that further trades, deposits, and purchases will be disabled.  “While Binance is disappointed that…

Bitcoin price eyes $26K ‘acceleration’ zone as Binance fears fade

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Bitcoin (BTC) headed toward a “crucial area” after the June 16 Wall Street open as a recovery from three-month lows continued. BTC/USD 1-hour chart Bitcoin reinforces rebound from multi-month lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $26,000 on Bitstamp. BTC price built on an overnight rebound from its lowest levels since early March amid ongoing regulatory and macroeconomic pressures. For Michaël van de Poppe, founder and CEO of trading firm Eight, $26,000 represented a key level for bulls to flip next. “Long weekend is coming up…

Binance Announces Exit from Netherlands after Failing to Secure VASP License

The official Binance exit from the Netherlands follows the exchange’s inability to secure an official license with Dutch regulators. Binance has announced its exit from the Netherlands. According to an official publication, the world’s largest crypto is leaving the Dutch market as it has been unable to secure a license as a virtual asset service provider (VASP). In the exit announcement, Binance notes it will no longer accept new users in the Netherlands with immediate effect. Also, apart from withdrawals, all services will be suspended for existing users resident in the…

Binance under investigation in France since February 2022: Report

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The legal troubles for world’s leading crypto exchange Binance continue to mount as new reports suggest the exchange has been under investigation in France since early last year. According to a report published in French daily Le Monde, the French arm of the crypto exchange has been the subject of a preliminary investigation – conducted by the judicial investigation service of finance under the direction of the specialized interregional jurisdiction of Paris – since February 2022. The Paris public prosecutor’s office reportedly cited “acts of illegal exercise of the function…

Binance Under Investigation in France, Accused of ‘Serious’ Money Laundering: Report

Allegations against Binance from French prosecutors “relates on the one hand to acts of illegal exercise” of operating as a digital asset service provider and “acts of aggravated money laundering, by competition with operations of investments, concealment, conversion, the latter being carried out by perpetrators of offenses having generated profits,” the Paris’ public prosecution office told CoinDesk. Source

Binance is leaving the Dutch market: Here’s when

Global cryptocurrency exchange Binance has terminated its services in the Netherlands, making an exit from the Dutch market after a bid to obtain a virtual asset service provider (VASP) license failed. The termination of services is effective immediately, and no new customers from the Netherlands can open an account with the crypto exchange. From July 17 onwards, existing Dutch customers will only be able to withdraw assets from the Binance platform, and no further purchases, trades or deposits will be possible from today. Binance claimed it explored many alternative avenues to…

Binance to Quit Netherlands After Failing to Acquire License

“We regret to announce that Binance is leaving the Dutch market,” Binance said in an email to CoinDesk. “This unfortunately means that no new users residing in the Netherlands will be accepted as of today. Starting from 17 July, 2023, existing Dutch resident users will only be able to withdraw their assets from the Binance platform. No further purchases, trades or deposits will be possible. We encourage those users to take appropriate action by withdrawing assets from their accounts.” Source

Binance withdraws from Canada following additional crypto regulations

Binance is a popular cryptocurrency exchange with high transaction volumes across various cryptocurrencies, including bitcoin (BTC), ethereum, PEPE, and FLOKI. With its broad portfolio and diverse product offerings, Binance has expanded its services globally. However, some countries do not support the exchange’s role in the crypto industry. Recently, some countries have taken a stricter stance on the usage of cryptocurrencies. While a few nations have prohibited digital currencies, others, like El Salvador, have recognized bitcoin as legal tender. Users, investors, and developers wish for cryptocurrency acceptance because this financial system…

Binance goes for bitcoin cloud mining despite regulatory uncertainty

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Amidst stringent regulatory scrutiny in the US, Binance is diving headfirst into the crypto mining landscape with a new subscription-based cloud mining service for bitcoin. As of June 15, the company unveiled its novel cloud mining services, catering specifically to Bitcoin (BTC) mining aficionados who lack the requisite hardware to participate directly. For those new to the concept, cloud mining involves leveraging a data center’s computing power to mine cryptocurrency, in this case, bitcoin. Hashrate, the…