Monetary Authority Of Singapore Puts Binance On Investor Alert List For Violating Payment Laws

Singapore Monetary Authority has placed the Binance exchange on its alert list of investors on Wednesday. This is due to some concerns about the possibility that the crypto exchange might have violated the local payments laws. On Sunday, the global crypto exchange has announced its intention to cancel its product offering in the country. This… Continue reading Monetary Authority Of Singapore Puts Binance On Investor Alert List For Violating Payment Laws

Binance limits SGD product offerings in Singapore amid regulatory warnings

Global cryptocurrency exchange Binance announced Sunday that it will roll back product offerings in Singapore amid warnings from financial regulators that the company may have violated payments laws. Beginning Sept. 9, Singaporeans will no longer be able to trade cryptocurrencies or receive payments denominated in the Singapore dollar, better known as SGD, according to a… Continue reading Binance limits SGD product offerings in Singapore amid regulatory warnings

Binance CEO says US crypto exchange will go public in three years

Binance’s affiliate United States-based cryptocurrency exchange, Binance.US, is targeting an initial public offering (IPO) in 2024, according to Binance CEO and founder Changpeng Zhao. Binance.US is planning to close a large private funding round in the next two months that would allow the firm to become more independent from the global exchange, Zhao said on… Continue reading Binance CEO says US crypto exchange will go public in three years

Singapore Regulator Puts Binance.com on Investor Alert List

The regulatory woes of Binance are far from over as the Monetary Authority of Singapore (MAS) has become the latest regulator to flag the crypto exchange by placing Binance.com on the Investor Alert List. The list added binance.com on Thursday but did not provide any additional details on the inclusion of the crypto exchange. In… Continue reading Singapore Regulator Puts Binance.com on Investor Alert List

Binance incapable of effective supervision, British regulator states

The United Kingdom’s Financial Conduct Authority (FCA) released a supervisory notice on Wednesday, stating that prominent crypto exchange Binance is incapable of being effectively supervised and exposes users to financial risk. The FCA notice — originally dated June 25 — was in relation to Binance’s “complex and high-risk financial products” that pose a significant risk to… Continue reading Binance incapable of effective supervision, British regulator states

Binance denies allegations of market manipulation

Major cryptocurrency exchange Binance is pushing back against allegations of market manipulation and working against the interest of its users. In a Monday Twitter thread, Binance seemingly laid the blame for any claims of manipulating the crypto market on publications spreading fear, uncertainty and doubt, as well as certain individuals impersonating employees at the exchange.… Continue reading Binance denies allegations of market manipulation

Too little too late? Binance tightens KYC checks as investors pull out of $100M funding

Regulatory walls have been closing on Binance, the beleaguered cryptocurrency exchange that’s been operating in total ignorance of financial regulations across the world. Now caught in a chokehold by regulators from Malaysia to the U.K. and even the Cayman Islands, the exchange is attempting to play catch up. It has now tightened its customer identification… Continue reading Too little too late? Binance tightens KYC checks as investors pull out of $100M funding

Binance Singapore Has Recruited Richard Teng as Its Chief Executive Officer

Binance Singapore announced that it has recruited Richard Teng as its new Chief Executive Officer, effective from August 2021. Finance Magnates recently learned in a press release that Richard Teng, a senior executive veteran with more than twenty-five years of experience in the financial industry, has been named by Binance Singapore, a leading fiat-to-crypto platform… Continue reading Binance Singapore Has Recruited Richard Teng as Its Chief Executive Officer

Binance Singapore Has Recruited Richard Teng as Its Chief Executive Officer

Binance Singapore announced that it has recruited Richard Teng as its new Chief Executive Officer, effective from August 2021. Finance Magnates recently learned in a press release that Richard Teng, a senior executive veteran with more than twenty-five years of experience in the financial industry, has been named by Binance Singapore, a leading fiat-to-crypto platform… Continue reading Binance Singapore Has Recruited Richard Teng as Its Chief Executive Officer

Binance Makes KYC Mandatory For New Users

Key Takeaways Binance.com has said new users on the platform will be required to complete Intermediate level verification. Existing users without intermediate verification will only have the ability to withdraw funds. According to Binance, the decision was made to strengthen its Anti-Money Laundering (AML) rules. Binance has stated that new users will have to complete… Continue reading Binance Makes KYC Mandatory For New Users

Bison Trails launches Binance Smart Chain support

Bison Trails, an enterprise infrastructure provider for the blockchain and cryptocurrency industry, has extended support to developers of Binance Smart Chain — a move the company says will contribute to the health and security of the rapidly growing DeFi sector. Through Bison Trails, developers on Binance Smart Chain, also known as BSC, will have access… Continue reading Bison Trails launches Binance Smart Chain support

Crypto Traders to Sue Binance for Millions After May Outage

Key Takeaways The Swiss litigation finance group Liti Capital has raised $5 million to sue Binance on behalf of a group of cryptocurrency traders. Many traders allege that Binance’s futures market and leveraged tokens products stopped working as intended during a major crypto crash on May 19. Binance has allegedly refused to fully compensate users… Continue reading Crypto Traders to Sue Binance for Millions After May Outage

Bison Trails launches Binance Smart Chain support

Bison Trails, an enterprise infrastructure provider for the blockchain and cryptocurrency industry, has extended support to developers of Binance Smart Chain — a move the company says will contribute to the health and security of the rapidly growing DeFi sector.  Through Bison Trails, developers on Binance Smart Chain, also known as BSC, will have access… Continue reading Bison Trails launches Binance Smart Chain support

Binance crypto exchange outage sparks outrage as traders lose millions

Outages in crypto exchanges have resulted in losses for investors trying to get out in time. While Binance has been proactive in neutralizing such situations, numerous investors are reportedly seeking damages due to the exchange’s inoperability.  Speaking to CNBC, a Binance spokesperson highlighted the company’s policy that promises to compensate actual trading losses due to… Continue reading Binance crypto exchange outage sparks outrage as traders lose millions

Binance Recruits Former IRS Investigator To Oversee Anti-Money Laundering Efforts

Binance crypto exchange is taking further steps in its attempts to take the edge off the increased regulatory scrutiny by hiring a former Inland Revenue Service (IRS) investigator and cybercrime guru to lead its anti-money laundering requirements. Binance Adds Greg Monahan To Its Compliance Team In a Wednesday press release, Binance announced that Greg Monahan… Continue reading Binance Recruits Former IRS Investigator To Oversee Anti-Money Laundering Efforts

Binance Hires Ex-IRS Officer To Fight Money Laundering

Key Takeaways Binance has appointed Greg Monahan, a former IRS investigator, as its new global money laundering reporting officer. Manohan will focus on enhancing Binance’s AML compliance and support investigation programs. The exchange says it has expanded compliance hiring by over 500% since last year. Binance has hired a former criminal investigator at the Inland… Continue reading Binance Hires Ex-IRS Officer To Fight Money Laundering

British Court Orders Binance to Identify and Freeze Hackers' Accounts After a User Claims Funds Stolen – Exchanges Bitcoin News

A U.K. judge has reportedly ordered cryptocurrency exchange Binance to identify hackers and freeze their accounts after one of its users claimed to be the victim of a $2.6 million hack. Binance Ordered to Help Recover Funds Allegedly Stolen in a Hack A London high court has ordered global cryptocurrency exchange Binance to identify hackers… Continue reading British Court Orders Binance to Identify and Freeze Hackers' Accounts After a User Claims Funds Stolen – Exchanges Bitcoin News

Binance halts KRW pairs amid tightening crypto exchange regulations in Korea

Binance has halted Korean won (KRW) trading pairs as part of a raft of changes to its operations in South Korea. In a notice issued on Friday, the crypto exchange giant announced the discontinuation of KRW trading pairs as well as KRW payment options on its service. Other features discontinued include Korean language support on… Continue reading Binance halts KRW pairs amid tightening crypto exchange regulations in Korea

Binance Coin Declines as Bears Resume Selling Pressure to $340 Low

Yesterday, Binance Coin (BNB) continued its upward trend, reaching a high of $410. The cryptocurrency is facing resistance at the recent high. The current resistance is the historical price level from June 3. The corresponding rejection sent BNB/USD down to a low of $224 on June 24. If the bulls break the $410 resistance today,… Continue reading Binance Coin Declines as Bears Resume Selling Pressure to $340 Low

Binance “Pivoting to Proactive Compliance”: CEO Zhao

Binance CEO Changpeng Zhao has indicated that the exchange will be adopting a more proactive approach to regulatory compliance. Binance Switches Its Strategy The world’s largest crypto exchange looks to be taking a different approach to regulatory compliance. In a tweet posted Friday, CEO Changpeng Zhao told his 3.1 million followers that Binance would be… Continue reading Binance “Pivoting to Proactive Compliance”: CEO Zhao

Binance “Pivoting to Proactive Compliance”: CEO Zhao

Binance CEO Changpeng Zhao has indicated that the exchange will be adopting a more proactive approach to regulatory compliance. Binance Switches Its Strategy The world’s largest crypto exchange looks to be taking a different approach to regulatory compliance. In a tweet posted Friday, CEO Changpeng Zhao told his 3.1 million followers that Binance would be… Continue reading Binance “Pivoting to Proactive Compliance”: CEO Zhao

Binance latest: HSBC stops payments as Ripple execs gets court nod to obtain docs from exchange

Beleaguered cryptocurrency exchange Binance has lost yet another U.K. mainstream payment on-ramp while Ripple execs seek to force Binance to expose its trading data to U.S. securities regulators. On Tuesday, HSBC’s U.K. customers reported receiving notices that the banking giant was “stopping payments from our credit cards to Binance wherever possible.” HSBC said it had… Continue reading Binance latest: HSBC stops payments as Ripple execs gets court nod to obtain docs from exchange

Binance Coin Holds Above $320 as Bulls and Bears Struggle for Price Possession

On August 1, Binance Coin (BNB) rose to a high of $347 but failed to sustain the uptrend. Bulls were overwhelmed as the altcoin fell back to $320. At the current $320 support, bears and bulls engaged in a price tussle for 48 hours before the upward correction kicked in. However, the BNB price attracted… Continue reading Binance Coin Holds Above $320 as Bulls and Bears Struggle for Price Possession

Binance completes Polygon wallet integration

Binance has fully integrated the Polygon (MATIC) mainnet onto its platform, according to a press release. From now on, Binance traders can deposit and withdraw MATIC through their Binance accounts while also interacting with decentralized applications, or DApps, like Sushiswap, Balancer, Aave, and more. This integration is meant to ensure that traders can utilize said… Continue reading Binance completes Polygon wallet integration