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Binance Thailand opens crypto exchange for trading
Economic Times
·
1y ago
Medial
Binance has launched a new cryptocurrency exchange in Thailand, allowing users to trade various digital assets. The exchange, known as Binance Thailand, is a branch of the global cryptocurrency exchange Binance. It is licensed by the Thai Securities and Exchange Commission (SEC) and offers trading pairs with the Thai baht. This move is expected to make cryptocurrency trading more accessible and regulated in Thailand.
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Binance kicks off oral arguments in push to end SEC lawsuit
Economic Times
·
1y ago
Medial
In a high-profile case brought against Binance by the U.S. Securities and Exchange Commission (SEC), the world's largest cryptocurrency exchange is requesting the dismissal of the lawsuit. Binance is accused of breaking SEC rules, committing fraud, inflating trading volumes, diverting customer funds, and facilitating trading of unregistered securities. During a hearing, the judge questioned Binance's argument that the SEC lacks authority to regulate the crypto assets involved. This comes after a similar dispute arose between the SEC and Coinbase. Binance previously settled with the Department of Justice and the Commodity Futures Trading Commission over illicit finance breaches.
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Binance copped a $4 billion plea but is still fighting the SEC
Livemint
·
1y ago
Medial
The article discusses how cryptocurrency exchange Binance reached a $4.3 billion legal resolution with the US Justice Department and the Treasury Department, but the Securities and Exchange Commission (SEC) was not involved in the settlement talks. The SEC has its own legal case against Binance and has been a strict regulator in the crypto world. Settling with the SEC could have required Binance to close most of its US trading business. Binance chose to fight the SEC in court because winning the case would collapse the SEC's claims. The guilty plea and CEO's resignation allow Binance to continue operating, albeit with regulatory oversight.
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Monero Drops 17% as Binance Delists XMR
Startup News FYI
·
1y ago
Medial
Crypto exchange Binance has announced its decision to delist privacy coin Monero (XMR) along with other assets like Aragon (ANT), Multichain (MULTI), and Vai (VAI) on February 20. Following the news, Monero's price dropped 17%, currently trading at $138. Binance stated that the delisting was based on criteria such as trading volume, liquidity, stability, safety, public communication, and evidence of unethical or fraudulent conduct. Deposits will no longer be credited after the delisting, but withdrawal support will continue until May 20.
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Binance to stop services in Nigerian Naira amid crackdown on crypto exchanges
Economic Times
·
1y ago
Medial
Binance, one of the largest cryptocurrency exchanges, is discontinuing its support for Nigeria's local currency, the Naira, following a government crackdown on crypto exchanges. The move comes after the arrest of two Binance executives in Nigeria, accused of violating local laws. Starting from March 8, Binance will cease all trading and transactions involving the Naira. Users will be able to convert their remaining Naira balances into Tether, a stablecoin pegged to the US dollar. The arrest and crackdown are part of Nigeria's efforts to combat the black market for foreign exchange.
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Binance to halt naira services amid ongoing regulatory probe in Nigeria
TechCrunch
·
1y ago
Medial
Binance has announced that it will halt its naira (NGN) services in response to increased regulatory scrutiny in Nigeria. The cryptocurrency exchange will delist NGN spot trading pairs and remove NGN from its auto-invest tool by March 7th. Users are advised to withdraw or convert their NGN assets before discontinuation. In recent weeks, the Nigerian government has imposed restrictions on crypto exchanges and accused Binance of facilitating illicit flows of $26 billion. Two Binance officials were detained in Nigeria, reportedly due to illegal operations. Nigeria's parliament has also threatened to arrest Binance executives.
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Binance, SEC request pause in legal battle as Trump's crypto policy takes shape
Economic Times
·
5m ago
Medial
Binance and the US SEC have requested a 60-day pause on the lawsuit against Binance, influenced by a new task force on crypto regulations. This pause indicates a shift towards a more crypto-friendly approach under President Trump's administration. The SEC had previously sued Binance over accusations related to trading volumes and customer funds. The task force, led by Commissioner Hester Peirce, aims to improve the regulatory climate for the crypto industry.
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Binance gets Dubai regulator nod to onboard retail clients
VCCircle
·
1y ago
Medial
Cryptocurrency exchange Binance has obtained a Virtual Asset Service Provider (VASP) license from Dubai's regulator VARA. This license will enable Binance to expand its services beyond spot trading and fiat services to retail clients, as well as qualified and institutional users. The license also allows Binance FZE, a unit of Binance, to offer margin trading products for qualified users and staking products.
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Binance to sell Russia business to crypto exchange CommEX
Economic Times
·
1y ago
Medial
Crypto exchange Binance has announced its decision to sell its Russia business to the crypto exchange CommEX. The deal will not provide any ongoing revenue split for Binance, and it will not retain the option to repurchase shares in the business. Noah Perlman, Binance's chief compliance officer, stated that the move aligns with the exchange's compliance strategy. Financial details of the agreement have not been disclosed.
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Coinbase Ventures backed CoinDCX set to invest in crypto taxation firm KoinX
Inc42
·
1y ago
Medial
Crypto exchange CoinDCX, backed by Coinbase Ventures, has formed a strategic partnership and made an investment in crypto taxation platform KoinX. CoinDCX plans to enhance the user experience and security of crypto trading with this collaboration. The partnership will also enable KoinX to tap into CoinDCX's community of over 1.4 crore users and increase its visibility. This development follows Apple's delisting of offshore crypto exchanges like Binance, Kucoin, and OKX from its India app store. The heavy taxation regime and compliance mandates have adversely affected the Indian crypto industry.
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Binance sets up Polish entity for residents of Belgium after regulatory action
Economic Times
·
1y ago
Medial
Binance, the largest cryptocurrency exchange, has established a Polish entity to serve Belgian clients after Belgium's regulator ordered it to cease offering virtual currency services in the country. Binance aims to comply with regulatory obligations and continue providing services to Belgian users. The exchange has faced increased scrutiny from regulators globally and has been sued by US regulators for alleged deception. Additionally, Mastercard ended crypto card partnerships with Binance in several countries.
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