Binance banned in Malaysia, given 14 days notice to shut down operations
The crypto exchange has been served with a notice to stop offering its services in the country. Malaysia is the latest regulatory theater to come after Binance as authorities in the country have accused the exchange giant of continuing to operate in the country illegally.According to an announcement released on Friday, the Securities Commission of Malaysia has served a public reprimand against Binance calling for the exchange and all of its entities to cease operations in the country.Binance has 14 business days from July 26 to comply with the order that includes disabling its website and....
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The securities regulator of Malaysia has taken enforcement actions against the global cryptocurrency exchange Binance. Noting that the exchange is operating illegally in the country, the regulator has advised those who currently have accounts with Binance “to immediately cease trading through its platforms and to withdraw all their investments immediately.” Malaysia Issues Public Reprimand Against Binance The Securities Commission Malaysia (SC) announced Friday “enforcement actions against Binance for illegally operating a digital asset exchange (DAX).” Under....
Banned bitcoin miners were found using China’s state resources to carry on with their operations. This happens in the midst of a severe power shortage and the country’s fierce attempt to shut down all BTC mining. The recent coal crisis in China raised their interest to speed up the shutdown of all Bitcoin mining operations. […]
Police in Malaysia have shut down a bitcoin mining operation and seized 1,720 bitcoin mining machines in a major electricity theft crackdown following public complaints. “Police inspected 75 premises around the district and 30 of them were found to be carrying out illegal bitcoin mining activities and stealing electricity.”
Malaysian Authorities Shut Down Bitcoin Mining Operation
Malaysian police have cracked down on a major electricity theft case involving bitcoin mining, local media reported. Perak police chief Datuk Mior Faridalathrash Wahid said at a press....
The crypto exchange giant said the decision was part of efforts aimed at proactive compliance with regulatory demands. Binance has halted Korean won (KRW) trading pairs as part of a raft of changes to its operations in South Korea.In a notice issued on Friday, the crypto exchange giant announced the discontinuation of KRW trading pairs as well as KRW payment options on its service. Other features discontinued include Korean language support on its website and merchant applications for peer-to-peer transactions (P2P) in South Korea.As part of the announcement, Binance also advised P2P....
It’s unclear why authorities outright destroyed the miners rather than attempting to reap some value, but they could still be sold for scrap. Authorities in Malaysia destroyed more than $1.2 million worth of Bitcoin mining rigs after they were confiscated for operating illegally.In a video posted today from local news outlet DayakDaily, police in the city of Miri on the island of Borneo and the Sarawak Energy company arranged for a steamroller to run over 1,069 Bitcoin (BTC) miners. The rigs were reportedly confiscated from residents of Malaysia attempting to illegally mine the....