Browsing:Binance

Binance and Gulf Innova have joined forces to launch Binance TH
2 months ago 1 min read

Binance and Gulf Innova launched Binance TH, a new crypto exchange in Thailand

Binance and Gulf Innova have joined forces to launch Binance TH, a cutting-edge crypto exchange tailored for the Thai market. The exchange, which is now open for business, represents a strategic collaboration that prioritizes security, transparency, and local support. CEO Nirun Fuwattananukul expressed gratitude for the collaboration and emphasized the importance of working closely with Thai regulators to bring this innovative platform to fruition. Binance TH is intended to provide Thai users with a smooth and secure trading experience. The exchange facilitates Thai baht transactions, increasing accessibility for local users. Binance TH is committed to adhering to Thailand’s SEC rules

Binance assures users of their funds' safety after its app is removed from India's Play Store and App Store
2 months ago 1 min read

Binance assures users of their funds’ safety after its app is removed from India’s Play Store and App Store

Both Google’s Play Store and Apple’s App Store in India have recently removed applications from prominent crypto exchanges such as Binance and OKX. The removal follows the Indian government’s cautionary advisory regarding crypto-related activities. The Financial Intelligence Unit of India issued a directive to several crypto exchanges, specifically Binance and OKX, on December 28, 2023, urging them to register and adhere to financial regulations. If the exchanges continued to operate without compliance, they would face severe legal consequences. Users are understandably concerned about the removal of Binance’s app from Indian app stores. Despite the app’s unavailability, Binance quickly addressed these

Apple's App Store in India recently restricted access to crypto exchange apps
3 months ago 2 mins read

Apple App Store in India has blocked Binance, KuCoin, Bitget, Huobi, OKX, Gate.io and MEXC crypto exchange apps

Apple’s App Store in India recently restricted access to crypto exchange apps such as Binance, KuCoin, Bitget, Huobi, OKX, Gate.io, and MEXC. This decision comes just weeks after the Indian government issued a noncompliance notice to nearly a dozen offshore cryptocurrency exchanges. The Financial Intelligence Unit (FIU) of the Indian Ministry of Finance issued a notice to several exchanges, including Binance, Huobi, Kraken, Gate.io, KuCoin, Bitstamp, MEXC Global, Bittrex, and Bitfinex, on December 28, 2023, for allegedly operating illegally in India. The FIU emphasized that any exchange that caters to Indian users must register as a “reporting entity” and file

Binance US names Lesley O’Neill as Chief Compliance Officer amid increased SEC attention
3 months ago 1 min read

Binance US names Lesley O’Neill as Chief Compliance Officer amid increased SEC attention

Binance US is taking proactive steps to strengthen its compliance efforts in the face of increased scrutiny from regulatory bodies such as the SEC. Binance US has appointed Lesley O’Neill as Chief Compliance Officer in response to increased scrutiny and an evolving regulatory landscape. O’Neill’s role will be critical in managing legal affairs and improving the crypto exchange’s overall compliance framework. O’Neill brings a wealth of experience to her new position, having held positions in legal and compliance at Prove, EY, Milbank, and Bloomberg. O’Neill’s priorities include anti-money laundering measures and optimizing customer verification processes. By focusing on these critical

Binance founder Changpeng Zhao has been denied permission to travel abroad for the second time
3 months ago 1 min read

Binance Founder’s Travel Request Denied Again by U.S. Judge After Guilty Plea and $175M Bond Release

Binance founder Changpeng Zhao, also known as CZ, has been denied permission to travel abroad for the second time by a federal judge in the United States. This decision follows Zhao’s guilty plea and release on a $175 million personal recognizance bond. The judge raised concerns about Zhao’s flight risk, highlighting the former Binance CEO’s ongoing legal challenges. Judge Richard Jones has once again denied Changpeng Zhao’s request to travel abroad, citing concerns about the Binance founder’s potential flight risk. This is the second time Zhao’s travel plans have been thwarted, following his guilty plea to a charge of violating

Indian Authorities Issue Warning to Leading Crypto Exchanges for Non-Compliance
3 months ago 1 min read

India to ban 9 cryptocurrency exchanges URLs

Binance, Kucoin, Huobi, Kraken, Gate, Bittrex, Bitstamp, MEXC, and Bitfinex are among nine prominent crypto exchanges that have received a warning from Indian regulatory authorities. The Financial Intelligence Unit India (FIU IND) has expressed concern about the failure of these exchanges to comply with registration regulations and regional legal requirements. The FIU IND, which is in charge of monitoring virtual digital asset activities, has issued compliance Show Cause Notices to nine overseas Virtual Digital Asset Service Providers (VDA SPs). The notices emphasize potential liability for the exchanges’ noncompliance with the Prevention of Money Laundering Act (PMLA) and the Anti-Money Laundering/Counter

Binance Faces Market Share Challenges Amid Legal Woes but Shows Signs of Recovery Post $4.3 Billion Fine
3 months ago 1 min read

Binance’s market share falls amid U.S. legal issues but shows signs of recovery after paying a $4.3 billion fine

Binance, the world’s largest crypto exchange, saw its market share decline this year due to legal issues in the United States. The US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) stepped up their investigations into Binance, accusing the platform of a variety of violations, including transferring US customers to its global platform and engaging in wash trading. The legal issues, combined with the recent collapse of FTX, prompted investors to withdraw their funds from Binance. Binance controlled roughly 70% of the market at the start of 2023. However, when the exchange suspended certain trading activities

Binance Celebrates the Holiday Season with Community Giveaways
3 months ago 3 mins read

Binance Celebrates the Holiday Season with Community Giveaways

Dubai, UAE, December 21st, 2023 Binance, the world’s leading blockchain ecosystem and the world’s largest cryptocurrency exchange by trading volume, has prepared a diverse range of activities and events to celebrate the holiday season with an emphasis on community engagement and recognition. Binance launched its global celebration of the holiday season with a series of in-person events taking place in various cities around the world. From Madrid (Spain), and Medellin (Colombia), to Douala (Cameroon), Buenos Aires (Argentina), São Paulo (Brazil), Nairobi (Kenya), Dubai (UAE), Mexico City (Mexico), and Ho Chi Minh City (Vietnam), celebrating the community during the holidays. Binance

Binance exchange and its former CEO ChangPeng Zhao were fined $2.7 billion.
3 months ago 1 min read

Binance and Zhao Hit with $2.7 Billion Fine in CFTC Money Laundering Case

In a CFTC money laundering case, Binance and its former CEO, ChangPeng Zhao, were fined $2.7 billion. The court’s decision also introduces a new CEO, Richard Teng, and raises the prospect of Zhao facing prison time. The settlement between the CFTC and Binance was approved by the United States District Court for the Northern District of Illinois. Binance was ordered to pay $2.7 billion in fines, with Zhao personally liable for a $150 million penalty. The charges stem from a Commodity Futures Trading Commission (CFTC) money laundering case. The court ordered Binance to “disgorge $1.35 billion of ill-gotten transaction fees”

Binance Faces Market Share Decline Amid Regulatory Scrutiny
4 months ago 1 min read

Binance Faces Market Share Decline Amid Regulatory Scrutiny

Binance, once the dominant force in the crypto exchange space, has seen its market share decline significantly over the last year. The company’s involvement in multiple regulatory investigations, combined with the departure of its CEO and founder, Changpeng Zhao (CZ), has resulted in a significant decrease in market dominance. According to CCData, Binance’s market share fell to 30.1% in December, a significant decrease from the 55% it held at the start of the year. Monthly spot volumes on the exchange fell from $474 billion to $114 billion between January and September, a drop of more than 70%. Binance‘s participation in

John Reed Stark
4 months ago 1 min read

Former SEC Chairman Warns of Binance’s Growing Legal Problems in the Face of DOJ and SEC Probe

Former SEC Internet Enforcement Chief John Reed Stark recently shared his thoughts on Binance, the global cryptocurrency exchange, and its mounting legal problems. His remarks shed light on the intense scrutiny directed at Binance and its former CEO, Changpeng Zhao (CZ) by both the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Stark emphasized Binance’s extraordinary level of scrutiny, citing DOJ documents that reveal the extent of monitoring and commitments Binance has made. According to Stark, the DOJ’s demands include strict adherence to rules and regulations, which could result in significant costs for the crypto exchange.

Former SEC Official Expresses Concerns Over Binance Settlement: Predicts Inevitable Collapse
4 months ago 2 mins read

Former SEC Official Expresses Concerns Over Binance Settlement: Predicts Inevitable Collapse

Binance, the world’s largest crypto exchange, and its former CEO Changpeng Zhao (CZ) recently reached an agreement with the United States government. However, the implications of the agreement are raising eyebrows, with former SEC official John Reed Stark expressing serious concerns about Binance’s future and compliance efforts. Stark believes that, despite the settlement, CZ’s guilty plea to anti-money laundering charges may not provide Binance with the expected relief. Stark mentioned an interview with Binance’s new CEO, Richard Teng, in a recent post on X (formerly Twitter). Teng took over after CZ’s guilty plea and a significant $4.3 billion legal settlement