will binance get 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.2021年12月13日
One may also ask,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.
Also asked,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.
Besides,Is Binance us closing?
In 2019, Binance was banned in the United States on regulatory grounds and is no longer accessible for U.S. citizens.
Subsequently,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.
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.
Regulators in the U.K. have banned Binance from operating in the country, while places like Hong Kong and Japan have issued warnings against the exchange. In response, Binance has taken a series of measures in an effort to comply to an evolving patchwork of regulations in different markets.
Binance has been mostly safe for people’s information and funds, and the fact that they covered the losses themselves says a lot about them. On top of that, according to Zhao, the transaction was only around 2% of the total Bitcoin holdings of Binance. They ordered a “thorough security review” as well.
Binance said it is “not going to unilaterally freeze millions of innocent users’ accounts.” Jesse Powell, CEO of Kraken, another major cryptocurrency exchange, said on Twitter that the company “cannot freeze the accounts of our Russian clients without a legal requirement to do so.”
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.
7 best cryptocurrencies to buy now:
- Bitcoin (BTC)
- Ether (ETH)
- Solana (SOL)
- Terra (LUNA)
- Binance Coin (BNB)
- Aave (AAVE)
- Uniswap (UNI)
KuCoin. KuCoin is a Singapore-based exchange and a good alternative to Binance. It offers an extremely similar selection of cryptocurrencies and is available in most countries.
Best Crypto Exchanges of 2022
- Best Overall and Best for Beginners: Coinbase.
- Best Mobile App: Crypto.com.
- Best for Security: Gemini.
- Best for Altcoins: BitMart.
- Best for Low Fees and Best for Experienced Traders: Kraken.
- Best for Bitcoin: Cash App.
- Best Decentralized Exchange: Bisq.