Binance to repatriate US customer funds as legal woes mount

Coinbase chief legal officer Paul Grewal said: ‘The SEC’s reliance on an enforcement-only approach in the absence of clear rules for the digital asset industry is hurting America’s economic competitiveness and companies like Coinbase that have a demonstrated commitment to compliance.

The solution is legislation that allows fair rules for the road to be developed transparently and applied equally, not litigation.

July 26 (Reuters) – Binance has withdrawn its application for a crypto license in Germany, suggesting the world’s biggest cryptocurrency exchange is rethinking its immediate expansion plans amid a tough regulatory stance towards the industry.

In the meantime, all methods of depositing and withdrawing other fiat currencies as well as buying and selling crypto on Binance.com will remain unaffected, the spokesperson added.

France is also probing Binance, which has decided to quit the Dutch market because it was unable to meet registration requirements to operate as a virtual asset service provider.

“I don’t think that this SEC under this leadership necessarily cares whether they win or lose in the courts. I think what they are engaging in is a coordinated campaign to essentially destroy the crypto economy in the United States,” Stuart Alderoty, chief legal officer at Ripple, told the Piper Sandler Global Exchange & Fintech Conference in New York on Wednesday.

customer assets remain in the United States until a sweeping lawsuit filed this month by the regulatory agency is resolved. June 17 (Reuters) – Binance, the world’s biggest cryptocurrency exchange, and Binance.US have entered into an agreement with the U.S.

Securities and Exchange Commission to ensure that U.S.

FRANKFURT, June 29 (Reuters) – German regulators have told Binance they will not grant it a cryptocurrency custody licence, a person with direct knowledge of the matter said on Thursday, 바이낸스 가입방법 the latest in a string of setbacks for the world’s biggest cryptocurrency exchange.

SINGAPORE/WASHINGTON, July 14 (Reuters) – Bitcoin was hovering near its highest so far this year on Friday after crypto investors took encouragement from a legal victory in which the cryptocurrency XRP was ruled not to be a security.

He has denied all charges against him and is under house arrest at his parents’ home in California until trial later this year.

Analysts have said the crypto world is still feeling a hangover from the FTX drama.

It called the SEC’s civil charges “unjustified” and said it would “vigorously defend” itself. Binance.US said in the tweeted customer notice that it would no longer accept dollar deposits as part of plans to change to a “crypto-only exchange”.

“If there were an opportunity for a real conversation, of course we would take it up, but I want to be very clear: Coinbase is absolutely committed to defending itself in court,” he said.

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.

Binance.US, the purportedly independent partner of Binance, has seen its U.S.

market share slump to 0.9% on June 26 from over 22% in April after the exchange gave its customers a deadline of June 13 to withdraw their dollar funds as the SEC asked a court to freeze its assets.

BRUSSELS, June 23 (Reuters) – Belgium’s FSMA regulator on Friday ordered Binance to cease offering any virtual currency services in the country, adding to pressure on the world’s biggest cryptocurrency exchange.

Last week, Binance was sued by the U.S.

Securities and Exchange Commission, which listed 13 charges against the company, Zhao and the operator of its purportedly independent U.S.

A spokesperson for Binance said it was pulling back on Cyprus to sharpen its focus on its other companies in the European Union ahead of the rollout of the EU’s crypto asset regulations (MiCA).

“Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area,” the FSMA said.

France is also probing Binance, which has decided to quit the Dutch market because it was unable to meet registration requirements to operate as a virtual asset service provider.