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Binance Saga continues.... What's next?
- Thread starter k1976
- Start date
- Binance.US said its banking partners would "pause" their relationship with the exchange as soon as next week.
- Binance's banking transactions and its relationship to billionaire owner Changpeng Zhao have attracted immense scrutiny as both battle the Securities and Exchange Commission, which filed 13 charges against them earlier this week.
- Zhao's ownership over Binance subsidiaries has been the subject of concern for the SEC, which filed an emergency motion for a temporary restraining order to prevent asset flight.
Binance.US customers will no longer be able to use U.S. dollars to buy crypto on the platform as early as June 13, hobbling the exchange's ability to do business in the United States, after both payment and banking partners "signaled their intent to pause USD fiat channels," the exchange said.
Binance announced the change late Thursday night on Twitter, and blamed the Securities and Exchange Commission's "unjustified civil claims against our business." The exchange said it had preemptively disabled customers' ability to buy and deposit U.S. dollars.
Binance announced the change late Thursday night on Twitter, and blamed the Securities and Exchange Commission's "unjustified civil claims against our business." The exchange said it had preemptively disabled customers' ability to buy and deposit U.S. dollars.
Binance's banking transactions are the center of immense scrutiny by the SEC, which filed a civil complaint against the exchange and its founder, Changpeng Zhao, alleging both violated U.S. securities laws.
Zhao's influence over and ownership of the U.S. and international arms of Binance — an international network of offshore holding companies the SEC alleges have moved billions of dollars of assets between themselves — prompted the SEC to file an emergency motion for a temporary restraining order. That restraining order would have frozen U.S. dollars from the exchange anyway
Zhao's influence over and ownership of the U.S. and international arms of Binance — an international network of offshore holding companies the SEC alleges have moved billions of dollars of assets between themselves — prompted the SEC to file an emergency motion for a temporary restraining order. That restraining order would have frozen U.S. dollars from the exchange anyway
The exchange's disclosed U.S. banking partners, which have included Axos Bank, Cross River Bank, and the failed Silvergate, Signature, and Silicon Valley Banks, processed billions of dollars in transactions for the U.S. exchange, according to documents Binance provided to the SEC.
Multiple banking partners had already stopped serving Binance, and it wasn't immediately clear which banking partners Binance retained.
Multiple banking partners had already stopped serving Binance, and it wasn't immediately clear which banking partners Binance retained.
https://www.google.com.sg/amp/s/dec...fter-sec-leaks-binance-chat-logs?amp=1?espv=1
Deep Throats from Binance iNsaier?
Deep Throats from Binance iNsaier?
Binance CEO Changpeng Zhao (CZ) has issued a warning to employees regarding their internal communications, according to reports, following a lawsuit from the U.S. Securities and Exchange Commission (SEC) on Monday.
“Everything you say could end up in court (or on the internet) one day,” he wrote employees according to a translated copy of a memo seen by Odaily Planet Daily on Thursday.
The executive’s warning follows the SEC’s recent leak of screenshotted chat logs between employees, including the company's former compliance lead “Sam Lim” and Head of Business Development “Alvin.”
During their conversations, the employees privately discussed “dumping” their BNB tokens before they tanked, and glibly admitted to “operating an unlicensed securities exchange”—much in line with the SEC’s allegations against Binance.
“Everything you say could end up in court (or on the internet) one day,” he wrote employees according to a translated copy of a memo seen by Odaily Planet Daily on Thursday.
The executive’s warning follows the SEC’s recent leak of screenshotted chat logs between employees, including the company's former compliance lead “Sam Lim” and Head of Business Development “Alvin.”
During their conversations, the employees privately discussed “dumping” their BNB tokens before they tanked, and glibly admitted to “operating an unlicensed securities exchange”—much in line with the SEC’s allegations against Binance.
https://www.google.com.sg/amp/s/amp...-coinbase-us-government-cryptocurrency?espv=1
Gov regulation coming to cypto??
Gov regulation coming to cypto??
A 101-page lawsuit filed in federal court in New York on Tuesday alleges Coinbase skirted SEC rules for years by letting users trade crypto tokens that were actually unregistered securities.
Gensler has repeatedly argued that most tokens fall under SEC oversight, and has warned government-regulated banks to steer clear. By declaring Coinbase an illegal exchange, the SEC chief makes it harder for US crypto traders to trade digital tokens.
In an interview with Bloomberg, Gensler depicted the crackdown as an effort to protect investors and the integrity of US securities markets.
Gensler has repeatedly argued that most tokens fall under SEC oversight, and has warned government-regulated banks to steer clear. By declaring Coinbase an illegal exchange, the SEC chief makes it harder for US crypto traders to trade digital tokens.
In an interview with Bloomberg, Gensler depicted the crackdown as an effort to protect investors and the integrity of US securities markets.
Will Singapore, Hong Kong step up crypto scrutiny as US cracks down on Binance, Coinbase?
- The moves by the US SEC against Binance, Coinbase spooked investment sentiment just as Hong Kong seeks to establish itself as a trading hub along with Singapore
- Unlike Singapore and Hong Kong, the US does not have comprehensive regulations for crypto and blockchain firms to operate without fear of regulatory action
US regulatory action against two major cryptocurrency exchanges, Coinbase and Binance, is likely to serve as a reference point for Hong Kong and Singapore as they seek to balance growth with investors’ safety, analysts have said.
The crackdown is the latest in a series of measures by the US Securities and Exchange Commission (SEC), which has levied fines and other penalties against crypto-lending firms, following the collapse of one of the most-reliable crypto exchanges FTX last November that sparked public outrage.
The SEC said Coinbase had acted as a broker, exchange and clearing agency for investments without proper registration. The complaint came a day after the regulator sued Binance, alleging it had tried to evade US regulation.
The crackdown is the latest in a series of measures by the US Securities and Exchange Commission (SEC), which has levied fines and other penalties against crypto-lending firms, following the collapse of one of the most-reliable crypto exchanges FTX last November that sparked public outrage.
The SEC said Coinbase had acted as a broker, exchange and clearing agency for investments without proper registration. The complaint came a day after the regulator sued Binance, alleging it had tried to evade US regulation.
The development spooked investment sentiment just as Hong Kong is seeking to frame regulations to establish itself as a trading hub along with Singapore, which already has such a framework.
The two cities may look at the US action as a reference point, which could mean tighter scrutiny even in the Asian hubs, analysts say.
The two cities may look at the US action as a reference point, which could mean tighter scrutiny even in the Asian hubs, analysts say.
This is cutting off the lifeline of corrupted CCPee officials who are desperately trying to siphon their hard-earned dirty money off to US.
https://www.straitstimes.com/busine...rypto-business-in-singapore-amid-us-crackdown
The Wondeful Miracle Bros are in town.... Any miss the boat bros are welcome to 拜见
The Wondeful Miracle Bros are in town.... Any miss the boat bros are welcome to 拜见
The twin brothers who founded New York-based Gemini are looking to grow the cryptocurrency exchange in Singapore as part of a strategy to diversify outside the United States, where the authorities are cracking down on the sector.
Messrs Tyler and Cameron Winklevoss, 41, were in town to meet financial regulators, lawmakers and customers as part of a world trip which also included cities such as London, Dublin, Dubai and Hong Kong.
Messrs Tyler and Cameron Winklevoss, 41, were in town to meet financial regulators, lawmakers and customers as part of a world trip which also included cities such as London, Dublin, Dubai and Hong Kong.
https://www.thenationalnews.com/bus...7/winklevoss-twins-bitcoin-will-reach-500000/
They are sharing their Huat Big Big secrets to rifgt minded bros.... Dun mias your chance of a lifetime
They are sharing their Huat Big Big secrets to rifgt minded bros.... Dun mias your chance of a lifetime
https://www.bloomberg.com/news/arti...pto-exchange-pivots-after-layoffs-losses-earn
But dun know why The Huat Big Big suddenly run out od magic sauce recently
But dun know why The Huat Big Big suddenly run out od magic sauce recently
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