Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Binance Exchange Struggles With Regulation Issues

Published 07/03/2021, 05:26 AM
Updated 07/03/2021, 05:30 AM
Binance Exchange Struggles With Regulation Issues

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 ...

This article was first published on coinquora.com

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.