Binance Markets Limited, the British affiliate of the world’s largest cryptocurrency exchange, is now compliant with the requirements that the U.K.’s Financial Conduct Authority imposed on the company in June, the FCA said Wednesday. Fast facts The FCA had, back in June, issued a warning to Binance Markets Limited and the Binance Group and imposed…
Binance Singapore today announced the appointment of Richard Teng, former chief regulatory officer of the Singapore Exchange (SGX), as chief executive, bolstering its leadership ranks with former regulators while battling growing regulatory woes around the world. Fast facts Teng was CEO of the Abu Dhabi Global Market for six years before stepping down in March.…
Beset by legal and regulatory woes around the world, Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it is implementing mandatory know-your-customer (KYC) with immediate effect as it steps up its anti-money laundering (AML) compliance. Fast facts All new Binance users are now required to complete “intermediate verification” — which…
Crypto traders who suffered losses on Binance due to tech outages are turning to arbitration and crypto litigation finance.
The central bank of the Netherlands has issued a warning that Binance — the largest cryptocurrency exchange in the world by trading volume — is illegally operating in the country. Fast facts Binance is providing crypto services in the Netherlands without the required legal registration with De Nederlandsche Bank (DNB), according to the regulator. “This…
Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Greg Monahan, a former U.S. Treasury criminal investigator, as its global anti-money laundering officer, according to a company statement. Fast facts Monahan’s appointment comes as Binance seeks to bolster its compliance efforts amid increasing scrutiny from regulators around the world —…
Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it will be restricting the use of its derivatives products for customers from Hong Kong. Fast facts Hong Kong customers will, with immediate effect, not be able to open new Binance deriviative product accounts, according to a Binance announcement posted at…
Amid a turbulent time for the world’s largest crypto exchange, Binance has announced a new partnership with Alchemy Pay to bring crypto payment options to e-commerce platforms such as Shopify. Fast facts Running on the exchange’s Binance Pay feature, the partnership will allow users and merchants to send and receive crypto globally in over 40+…
Binance’s woes continue to mount as global banking giant HSBC is now blocking its customers in the United Kingdom from making credit card payments to Binance, according to Yahoo News. Binance is the world’s largest cryptocurrency exchange. Fast facts HSBC’s move follows similar actions taken by NatWest — a Scotland-based bank with 12.5 million customers…
World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.