Binance founder Changpeng Zhao tweeted that while the exchange is being linked to the bad guys, the bank is not, even though they use the “same or stronger” AML tools as banks.
Bitfinex didn’t reveal the reason for the sudden departure, but it advised Ontario users to withdraw their assets by March 1 before their accounts are closed permanently.
The State Bank of Pakistan is concerned about the use of digital currencies in crime, with a recent Binance-linked $100 million scam being cited as an example.
Over 30,000 investors were reportedly tricked into opening Binance accounts and transferring their digital assets to scammers, and the exchange is being investigated for its role.
In Canada, the Ontario securities regulator announced that Binance wasn’t authorized to offer services in the province; meanwhile in India, WazirX exchange was accused of evading of $5 million in taxes.
The Financial Crimes Investigation Board (MASAK) imposed a fine of 8 million lira ($750,000) on Binance’s local unit BN Teknoloji after it was found the exchange violated anti-money laundering requirements.
2021 has been a troubled year for Binance: it was blocked by many major banks in the U.K., booted out of several countries, and accused of market manipulation and insider trading.
Months after the Financial Conduct Authority shut down BInance over its illegal operations in the U.K, CEO Changpeng Zhao says the company is now in advanced stages to obtain licensing in the country.
Sam Bankman-Fried and FTX’s ties to Tether go beyond merely enjoying the increased activity that Tether’s constant printing brings about for exchanges throughout the ecosystem.
Withdrawals were initially suspended and resumed about 25 minutes later before being suspended and resumed again. What does this mean for the decentralized, permissionless narrative CZ promotes?
Binance has once again raised the ire of BSV supporters, announcing it will convert any remaining BSV in its customers' wallets to Binance USD (BUSD) after November 1, 2021.
Binance is doubling down on restricting access to its products in China, halting Chinese yuan OTCs, as top messaging app WeChat appears to block Binance results.
