what happened binance？
Binance Asia Services Ltd., the Singapore affiliate of the world’s largest cryptocurrency exchange, has withdrawn its application to run a bourse in the city-state, ending an effort that started last year to win approval from Singapore’s authorities.2021年12月12日
In this way,Is Binance being shut down?
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.
Considering this,Why is Binance in trouble?
In public, Binance lauded greater government oversight. But behind closed doors, the company operated its exchange with weak customer checks and anti-money laundering (AML) processes, and obscured information about its finances and business structure from regulators, the Reuters report said.
Besides,Why was Binance suspended?
Fellow Binancians, Following the security breach that occurred on the Ronin (RON) network, the Binance investigations team is supporting the Axie Infinity team with tracking transactions related to its network bridge, in a bid to identify the hacker.
Keeping this in consideration,What happened with Binance and US?
In 2019, Binance was banned in the United States on regulatory grounds and is no longer accessible for U.S. citizens.
Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved its headquarters out of China following the Chinese government’s increasing regulation of cryptocurrency….Binance.
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Originally founded in China, Binance reportedly pulled its employees and any official presence out of the Chinese market in 2017 after China banned ICOs. But Binance has launched quickly around the world in many countries. Regulators in many of those countries have said Binance is operating without permission.
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.
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.
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.
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.
Changpeng Zhao (Jul 2017–)Binance / CEOChangpeng Zhao, commonly known as “CZ”, is a Chinese-Canadian business executive. Zhao is the founder and CEO of Binance, the world’s largest cryptocurrency exchange by trading volume as of April 2018.
CZ was born in Jiangsu, China and moved to Canada at a young age with his family. Wikipedia
Binance continues to operate in other Canadian provinces, including Alberta, where the platform incorporated at the beginning of 2022, according to The Logic, a news website. A spokesperson for the OSC confirmed that the Alberta Securities Commission is the principal regulator for Binance Canada.