Binance's Cyprus unit seeks deregistration as crypto service provider

ВопросыРубрика: QuestionsBinance's Cyprus unit seeks deregistration as crypto service provider
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Bonny McColl спросил 2 года назад

Wyre’s decision was not because of any regulatory action and investors who have assets on the company’s platform could withdraw them via its dashboard through July 14, it said. (Reporting by Niket Nishant in Bengaluru; Editing by Pooja Desai)

Ferris Frederick Francis, co-founder of the NFT Singapore Cryptobengz project, said that the government requires them to use FTX if they want them to trade via a major exchange. On the other hand, the Malaysian Monetary Authority (MAS) has decided to prohibit Binance as of the end of 2021 since the exchange did not comply with the requirements of money laundering and transparency.

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June 12 (Reuters) — Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin’s liquidity.

June 8 (Reuters) — The chair of the U.S.

Securities and Exchange Commission (SEC) on Thursday strongly rebutted criticism that the agency is trying to crush the crypto industry, and said many companies in the space had made a «calculated economic decision» to flout its rules. Speaking at a Piper Sandler conference in New York, Gary Gensler also reiterated his view that the «vast majority» of crypto tokens meet the test for being a security and should be registered with the SEC.

That means most crypto exchanges have to comply with the securities laws too, he added.

U.S.

lawmakers also piled pressure on Binance on Thursday, calling for the Department of Justice to investigate after allegations in the SEC’s Monday complaint indicated that Binance had made false statements to Congress about its business practices in a written response to lawmakers questions in March.

Ethereum —
Ethereum continues to hold its crown as the largest altcoin. Ethereum is a decentralized open-source blockchain underlining smart contract functionality.

Ethereum has the biggest market capitalization following the leader bitcoin.

The crypto industry has attacked Gensler in recent days after the SEC sued two of the world’s largest crypto exchanges, Coinbase and Binance, for allegedly breaking securities laws by failing to register their operations with the agency.

NICOSIA, June 14 (Reuters) — Binance’s Cyprus unit has applied to be removed from Cyprus’ register of crypto asset service providers, the securities regulator website showed on Wednesday, in a move Binance said would allow it to focus on its larger European businesses.

June 18 (Reuters) — Binance has issued a cease and desist order to «Binance Nigeria Limited», Binance CEO Changpeng Zhao said in a tweet on Sunday, calling the Nigerian company a «scammer entity».

There’s more confidence surrounding the ECB decision, with a quarter-point increase fully priced for Thursday, and the only question being when the next quarter-point bump will come — with September most likely.

«We would not be surprised to see more lawsuits from the U.S. regulators, and possibly the Department of Justice, in the next few weeks,» said Scott Freeman, co-founder of JST Digital, a financial services firm focusing on digital assets.

Binance, the world’s biggest cryptocurrency exchange, has faced a string of setbacks recently, announcing plans to leave the Netherlands, Cyprus, Canada and Australia, and being charged by the U.S.

Securities and Exchange Commission (SEC).

Earlier this month, Nigeria’s markets regulator ordered Binance to halt its operations in the country, saying local unit «Binance Nigeria Limited» that courted Nigerian investors through a website was not registered or regulated, making it illegal.

The SEC said in a statement released on Saturday that the emergency relief order secured for Binance.US customers will protect their assets and ensure that they can continue to withdraw those assets.

The Binance and Coinbase SEC lawsuits «introduced a cloud of uncertainty around these assets and, as a result, our team has decided to end support for them,» the company tweeted.

Some investors may be attracted to the potential returns that a successful ICO can generate, while others may be interested in supporting the development of a particular project or technology.

There are a variety of different investors who may be interested in participating in a crypto fundraising event.
These can include individual investors, venture capital firms, hedge funds, and other financial institutions.