Israel’s capital market watchdog is asking major cryptocurrency exchange Binance for clarifications on its services in the country and licenses under which it operates, local media reported Thursday.

See related article: Binance US under probe for ties with trading affiliates: report

Fast facts

  • Binance has stopped all Israel-focused activities and marketing, the Globes reported, citing the market regulator.
  • The Capital Market, Insurance and Savings Authority is an Israeli regulator under the Ministry of Finance in charge of financial services such as licensing of crypto exchanges.
  • Binance had not responded to Forkast’s request for comment at the time of publication.
  • Binance is currently dealing with regulatory hurdles in numerous regions without operating from a physical global headquarters.
  • Earlier this week, the Wall Street Journal reported that Binance’s U.S. arm is under probe for its relationship with two trading firms.

See related article: Binance rebrands blockchains for metaverse, DeFi expansions