EU regulators reportedly scrutinize Binance over securities law compliance
Shortly after the exchange launched stock token trading, German and British financial regulators are reportedly looking into whether the offering complies with securities laws. Cryptocurrency exchange Binance's latest product — digital stock tokens representing fractions of equity shares like Tesla and Coinbase — is reportedly being studied by European and British regulators over its possible non-compliance with securities laws.A new report from the Financial Times claims that regulators are concerned the tokens may not provide sufficiently transparent corporate disclosures, specifically....
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The world's largest cryptocurrency exchange is reportedly being probed by the CFTC over concerns it facilitated crypto derivatives trading for U.S.-based customers. Binance, the world’s largest cryptocurrency exchange by trade volume, is reportedly under investigation by the United States Commodity Futures Trading Commission regarding possible trades made by U.S.-based customers.Binance Holdings Ltd is being investigated by the watchdog concerning possible derivatives trades made by American customers, Bloomberg reported on Friday, after being tipped off by an anonymous source.The exchange....
Amid the weight of regulatory scrutiny, Binance continues to grow its international compliance team for better relations with financial regulators. Crypto exchange giant Binance has hired Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), as its chief regulatory liaison officer.According to an announcement issued on Thursday, Binance stated that McGinness will contribute to the company’s push towards better relations with regulatory bodies across the globe.Indeed, McGinness is the latest Binance hire with expertise in regulatory....
Payments giants Visa and Mastercard say they are monitoring Binance’s regulatory compliance developments as more regulators come after the global crypto exchange for operating in their countries without authorization. Visa, Mastercard Monitoring Binance’s Regulatory Troubles Visa and Mastercard have not severed ties with cryptocurrency exchange Binance despite rising regulatory scrutiny. The two payments giants have not blocked Binance and cardholders can still use Visa and Mastercard to deposit funds into their accounts at the exchange. Visa told the Financial Times Friday....
Binance is set to face heavy regulations in the future with the mindset of shifting from a tech startup to a financial service, Changpeng Zhao said. Binance US, a United States-based cryptocurrency exchange operating separately from Binance, is looking to go public despite the ongoing regulatory crackdown on Binance.Changpeng Zhao, founder and CEO of the global exchange Binance, talked about its ongoing regulatory issues and future plans at the blockchain virtual summit REDeFiNE Tomorrow 2021 on Friday.The CEO expressed confidence that Binance is set to face heavy regulations in the....