Binance Faces Ongoing Executive Exodus Amidst Regulatory Scrutiny
Binance, one of the world’s largest cryptocurrency exchanges, continues to experience a wave of executive departures as it grapples with regulatory challenges and legal scrutiny in the United States and Europe. According to a Reuters report, the recent resignation of Mayur Kamat, Binance’s global head of product, adds to the growing list of critical figures […]
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Former acting Comptroller of the Currency Brian Brooks has resigned as the CEO of Binance U.S. after just over three months. He cited “differences over strategic direction.” Meanwhile, Binance is facing regulatory scrutiny worldwide, including in the U.K., Malaysia, Japan, Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania. CEO of Binance US Resigns The CEO of Binance U.S., Brian Brooks, announced Friday on Twitter that he has resigned from Binance. The former acting Comptroller of the Currency and former chief legal officer at cryptocurrency exchange Coinbase tweeted:....
Former SEC Chief of Internet Enforcement John Reed Stark has stated that Morgan Stanley’s latest move to introduce a wide-scale offer of Bitcoin exchange-traded funds (ETFs) to its clientele will likely result in higher regulatory scrutiny for the American bank. This development comes amidst several commendations of Morgan Stanley from the crypto community in implementing […]
Open interest and liquidity across Binance crypto and Bitcoin derivatives markets have vastly improved, suggesting investors’ confidence in the sector. As such, 2020/2021 for Binance has been a breakthrough for derivatives markets. Such hiccups have Led to the current meteoric rise of Binance Futures. Binance Faces Regulation Defaults While Binance luxuriates on this achievement, it […]
The report alleges that Binance tried to insulate itself from regulatory scrutiny — a suggestion that the exchange denies. On Oct. 17, a new report published by Reuters alleged that cryptocurrency exchange Binance "swerved scrutiny" from regulators in the United Kingdom and the United States. The main spearhead of the allegations arises from two supposed incidents in its operating history.First, Reuters wrote of Binance strategy executive Zoe Wei's proposal to backdate a service agreement relating to various operations between Binance's U.K. unit and Binance's Cayman Islands holding....
As of 8 am UTC on Wednesday, Binance users will no longer be able to make euro deposits through their bank. However, they can still fund their accounts with credit cards and debit cards. Regulatory constraints facing Binance have forced the popular cryptocurrency exchange to temporarily halt bank transfers denominated in euros, according to an email sent to its customers on Tuesday. Specifically, euro deposits via the Single Europe Payments Area, or SEPA, have been put on hold indefinitely due to circumstances beyond the exchange’s control, Binance said in the email:“Due to events beyond....