Binance Exchange Struggles With Regulation Issues By CoinQuora

Binance Exchange Struggles With Regulation Issues

Cryptocurrency Jul 03, 2021 05:30AM ET

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Binance Exchange Struggles With Regulation Issues

Cayman Islands Monetary Authority is in a long line of regulators to take issue with Binance.
Island’s financial services regulator says Binance is not authorized to do business in the jurisdiction.

Cayman Islands Monetary Authority (CIMA) said Binance is not authorized to operate as a crypto exchange within the Cayman Islands. In fact, the Binance Group and Binance Holdings Limited are not registered, licensed, regulated, An investigating whether on Binance, Binance Group, or Binance Holdings Limited fall within the scope of the Authority’s regulatory oversight. The Cayman Islands’ primary financial services regulator noted.

“Binance.com does not run a cryptocurrency exchange out of the Cayman Islands,” a Binance spokesperson said. “We do, however, have entities incorporated under the laws of the Cayman Islands. Performing activities that are permitted by law and not related to operating crypto exchange trading activities,” he added.

In the past two weeks, some international regulators have asked whether ...

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Binance Exchange Struggles With Regulation Issues

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