is binance closing down

is binance closing down?

The company said the decision was made “taking into account strategic, commercial and developmental considerations globally.” “We always put our users first, so our decision to close Binance.sg was not taken lightly,” said Richard Teng, CEO of Binance Singapore.2021年12月13日

Beside above,Will Binance be shut down?

According to the world’s largest crypto exchange, it’s Singapore arm — binance.sg — will be shutting down by 13 February 2022. Investors have till the deadline to withdraw their funds.

Beside above,What will happens if Binance shuts down?

Users will be able only to withdraw and move their crypto to third-party platforms or crypto wallets, and/or withdraw their SGD. “All accounts must be closed by February 13 2022,” the statement said.

Likewise,Is Binance closing accounts?

In 2020, Binance shut off access to all accounts based in the United States due to pressure from regulators. Unfortunately, this move caused thousands of Americans to lose access to their Binance accounts, and by extension, their cryptocurrency holdings.

Regarding this,Why is Binance going down?

Excessive premium versus competing blockchains The reason behind the Binance short could be the excessive premium versus competing smart-contract chains. For example, BNB’s $78.2 billion market capitalization is 80% higher than Solana’s (SOL) $43.3 billion.

Related Question Answers Found

Which countries Cannot use Binance?

USDⓈ-M Futures, Coin-M Futures, Margin, Binance Options, Vanilla Options and Leveraged Tokens (“Futures and Derivatives Products”) will not be available to all users of the Netherlands, Germany, Italy, Australia and Hong Kong, and retail users of the United Kingdom.

Is Binance SG banned?

Binance.sg, a fiat currency-to-digital token trading platform, will wind down operations and close by Feb. 13, the company said, adding that it will stop accepting new registrations, crypto and currency deposits, and trading on the Singapore portal immediately.

Is Binance shutting down in UK?

The FCA had ordered Binance to stop all UK regulated activity last June over worries about weak consumer protections, amid a wider crackdown on the cryptocurrency industry’s potential role in fraud and money laundering.

Is Binance or Coinbase better?

Coinbase is best for buy and hold investors who want to purchase a currency and hold it for the long term. Binance offers much lower fees per transaction, as well as incentivizing high-volume traders with their fee structure. While they use a maker-taker fee structure, both the maker and taker fees are identical.

Is Binance still under investigation?

Last September, the investigations expanded to include the Commodity Futures Trading Commission to probe potential insider trading and market manipulation. Investigations are still ongoing.

Is Binance banned in Canada?

March 17 (Reuters) – Binance, the world’s largest crypto exchange by trading volume, has confirmed in an undertaking to the Ontario Securities Commission (OSC) that it would stop opening new accounts for users in the Canadian province, the regulator said on Thursday.

Is Binance a Chinese company?

Binance was initially based in China, but later moved its headquarters out of China following the Chinese government’s increasing regulation of cryptocurrency.

Which country uses Binance the most?

The country sending the most traffic to binance.com is Russia.

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