Colombians Take Legal Action Against Binance for Blocking Their Funds
An account blockade that happened more than five months ago due to money laundering issues has prompted some Colombian users of Binance to commence legal action against the exchange in the country. According to reports the funds blocked exceed $1 million, and after an investigation from the FIOD, the Netherlands’ anti-money laundering watchdog, the funds were linked to financial crimes. Binance Account Blockage Prompts Legal Action in Colombia Binance is facing legal issues in Colombia after blocking the accounts of a group of citizens whose activities were allegedly....
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BBVA, a private bank based in Spain, released an article that states Latam users are very interested in their crypto-powered solutions. The institution informed that close to 20% of the users of their New Gen accounts, which are available from Switzerland, are Colombians who are attracted by the crypto services offered by these accounts.
Colombians Attracted by Crypto Services, According to BBVA
Cryptocurrency solutions and their associated services are being embraced more and more by Latam users due to the characteristics of their economies. According to BBVA, a Spanish bank....
The commissioner for voluntary organizations in Malta has warned that he may take legal action against a charity foundation run by cryptocurrency firm Binance for failing to file accounts on multiple occasions. Binance Faces Legal Issues In Malta According to the Times of Malta, the foundation is being sued by the Malta Community Chest Fund, […]
Changpeng Zhao, CEO of the Binance, has offered advice to the cryptocurrency community in response to the recurrent cases of cryptocurrency platforms blocking users’ accounts and preventing them from accessing their funds. CZ Says Binance Is Profitable On July 21, CEO Zhao tweeted, “Choose exchangers carefully. Avoid exchanges that require funding to operate. He made […]
CZ admits it's not always easy weeding out US traders from the global Binance exchange. Binance founder and CEO Changpeng Zhao, or CZ, says he needs to do more to block “intelligent” US traders from illegally accessing his global exchange. In an interview with Bloomberg, CZ said his exchange needs to be “smarter about the way we block” US traders from gaining access to the platform. He said:“Basically, we do continually try to improve our blocking. There are sometimes a few guys who want to circumvent our blocking and still use the platform and we have to come up with a smarter way to....
In a class-action lawsuit filed on October 2 in the District Court of Northern California, Binance (Binance Holdings Limited, BAM Trading Services, BAM Management US Holdings) and its CEO Changpeng Zhao (“CZ”) are facing serious allegations surrounding attempted monopolization of the crypto market, purportedly through damaging strategies against their competitor FTX. The legal battle spearheaded […]