Binance, accused of selling unregistered crypto derivatives in Canada
The leading global crypto exchange Binance has been named defendants in a class action suit that is currently ongoing in Canada. The regulator sought to show that the company breached securities laws in relaxed jurisdictions by selling crypto derivatives without getting prior approval. The Ontario Superior Court of Justice, admitted the certification motion on the […]
Binance at Risk of Removal from App Stores in the Philippines
The Philippine legal authorities, known as the Philippine Securities and Exchange Commission (SEC), want to remove various applications linked with Binance from different app stores. According to an announcement on Tuesday, Apple and Google were sent a request to remove their apps from their platforms on April 19. In the letter, Emilio Aquino, the Chair […]
Shiba Inu rises from Binance’s innovation zone to fully supported asset
Binance has announced upgrading SHIB from the Innovation zone to its main platform, where it will be a fully supported asset. Such transition ideally symbolizes the beginning of an era for SHIB, where the currency starts when it is recognized for its value and stability rather than mentioned as a speculative asset. Shiba Inu gains […]
Fugitive Binance executive Nadeem Anjarwalla faces extradition to Nigeria
The Federal Police Service of Kenya is underway in extraditing Nadeem Anjarwalla, a high-ranking Binance official who escaped from custody in Nigeria. According to the authoritative source of the Nigerian government relayed by the International Criminal Police Organisation, the gangster money launderer Anjarwalla will be delivered to Nigerian authorities within the current week, Punch reports. […]
Nigerian tax evasion hearing for Binance pushed to May
The criminal case of cryptocurrency exchange Binance and two of its main employees will be adjourned to May 17. The Nigerian court initiated this postponement because Binance had not been served formal charges. The trial, however, was undertaken in response to the tax evasion accusations leveled against the defendant by the Federal Inland Revenue Service […]
Binance launches Megadrop with early access incentives for Web3 users
Cryptocurrency exchange Binance has announced the launch of a reward-based program that will feature airdrop and quests for its users. The exchange also announced an early access incentive for users in the Web3 ecosystem. According to the platform’s blog post, the program features access to selected projects for rewards. Binance launches new reward program In its […]
Binance’s Yi He shares Changpeng Zhao’s situation in the U.S.
Amid the hustle of cryptocurrency chatter, Yi He, the amazing co-founder of Binance, broke down the current status of Changpeng Zhao, known better as CZ, during the Binance Chinese Meetup in Dubai. With his sentencing on the horizon, the former CEO of the titan crypto exchange, appears to be in what my girl Yi described […]
Binance gears up for major upgrade: What you need to know
The largest crypto exchange globally—Binance—has scheduled a system upgrade from April 23 to April 24 to improve its overall performance and reliability. Users are alerted that the upgrade process might result in temporary gaps when accessing the website or mobile application. Impacted services include new user registration, login, trade service, etc. Binance system overhaul ahead […]
Nigerian court delays Binance executive bail hearing again
A Nigerian legal court postponed the bail request of the Binance executive Tigran Gambaryan, still held at the Kuje government center. The economy and Financial crimes commissioner applied to the Federal High Court in Abuja, presided over by Justice Emeka Nwite, to demand a time extension for filing a robust response to new allegations added […]
Binance’s possible relaunch into India’s market
Binance has recently faced many challenges from world leaders and regulators. Sanctions, terror levels, and dismissal from major trading hubs are some challenges the crypto exchange has been facing. As of early January, the Indian financial regulator included Binance and other offshore crypto exchanges in the illegal operations and charged them with non-submission to local […]
Binance secures comprehensive VASP license in Dubai
Binance has managed to get the full Virtual Asset Services Provider (VASP) license from VARA, Dubai’s Virtual Assets Regulatory Authority (VARA). Before that, the local arm of Binance, Binance FZE, got the Operational MVP license in July 2023, which enabled the platform to provide broker-dealer services and virtual-asset derivatives trading to institutional and qualified investors. […]
Binance Shifts $1 Billion SAFU Fund to USDC
Binance, the top crypto exchange, through the Secure Asset Fund for Users (SAFU), has disclosed an unprecedented financial arrangement for the whole transfer to the Dollar Coin (USDC). The total SAFU fund is $1 billion, which is 3 percent of the total stable coins circulation supply The complete transition of SAFU fund to USDC for […]
DOJ reevaluates Sullivan & Cromwell as Binance monitor amid FTX ties
According to the sources, the Department of Justice (DoJ) in the United States has an intention of selecting Sullivan & Cromwell as an independent monitor for Binance. This change of perception happened as a result of the filing of cooperation with FTX, which is a very acerbating competitor of Binance. This kind of monitoring became […]
Could Nigeria’s bullying of Binance permanently ruin Web3?
Nigeria’s clash with Binance is setting off alarms across the Web3 sector as investors pull out, fearing government hostility could jeopardize their investments. According to Lucky Uwakwe, chairman of Nigeria’s Blockchain Industry Coordinating Committee, the case against Binance is painting the Nigerian market as unsafe for business. Turmoil and Trepidation Investors are spooked, and it’s […]
Binance’s Strategic Move: Weighing up Our New Headquarters
The resolution about a proper place for headquarters is pending at the cryptocurrency world that has by a big margin Binance, the greatest crypto exchange, at this point. This choice, representing a complete change in perspective about the role of a head office in the previous policy is particularly noteworthy. Richard Teng, the leader of […]
After OKX, crypto.com is now fully licensed in the UAE
Crypto.com is now fully operational in the UAE after receiving the final approval from Dubai’s virtual asset regulatory authority VARA. In its press release Crypto.com, announced that its Dubai entity, CRO DAX Middle East FZE, has received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and is launching the Crypto.com Exchange for institutional […]
Philippines SEC urges users to withdraw funds before Binance’s ban
Philippines Securities and Exchange Commission (SEC) PhiliFintech Innovation Office Chief Paolo Ong has said that the agency cannot sign off on new methods to withdraw from Binance after its potential ban. Recall that the Philippines SEC ordered the country’s National Telecommunications Commission (NTC) to block access to some exchanges due to their unlicensed status. Philippines […]
Binance and SEC close to settlement after discovery phase
The legal battle between the U.S. Securities and Exchange Commission (SEC), Binance (and its American arm), and its founder, Changpeng “CZ” Zhao, is about to enter a critical region. Both sides on the defensive are closing in on the discovery and depositions stage. This joint report that they submitted to the court today indicates that […]
Binance threatens full restrictions on unverified sub-account holders
Cryptocurrency exchange Binance has announced measures that will be taken against users with accounts on its Exchange Link program. According to the announcement, Binance has mandated users of sub-accounts to ensure prompt completion of their mandatory Know Your Customer (KYC). The exchange noted that only users who have complied with the directive will be allowed […]
Binance executive’s case in Nigeria adjourned to April 19
A Nigerian court has reportedly adjourned the case of Binance executive Tigran Gambaryan to April 19. Gambaryan was detained in connection to naira manipulation and tax evasion offenses leveled on Binance by the federal government of Nigeria. According to the report on Bloomberg, the United States-based executive will remain in Nigeria’s custody until his next […]
Binance-Nigeria feud takes a dramatic [and hilarious] turn
![Binance-Nigeria feud takes a dramatic [and hilarious] turn](https://www.cryptopolitan.com/wp-content/uploads/2024/04/DALL·E-2024-04-04-21.25.10-Visualize-a-humorous-and-exaggerated-scene-that-captures-the-essence-of-the-escalating-but-comical-dispute-between-Binance-and-Nigeria.-Imagine-a-cart.webp)
When drama and humor collide in the crypto world, it’s a spectacle no one wants to miss. The recent feud between Binance, the titan of cryptocurrency exchanges, and Nigerian authorities, takes the cake for being both intensely dramatic and unintentionally hilarious. The core of this uproar? The detention of a Binance contractor in Nigeria, sparking […]
Binance discontinues support for Bitcoin Ordinals on its NFT
Binance, one of the most important cryptocurrency exchanges, reports a major modification in its marketplace of NFTs (Non-Fungible Tokens). According to messages in a blog post, the exchange stopped supporting Bitcoin ordinals on the NFT platform. This followed earlier announcements that the exchange promised to clean up its product offering and improve user experience. End […]
Binance asserts support for detained compliance chief amid Nigerian legal turmoil
The billions of dollars worth of possible cryptocurrency exchange giant Binance’s BNB against the allegations of involvement in the detention of its Head of Financial Crime Compliance (FCC), Tigran Gambaryan, ongoing in Nigeria, turned neither right nor left. The ICPC has begun announcing charges against Gambaryan and Nadeem Anjarwalla, the Binance Regional Manager for Africa, […]
Binance CEO tackles South Korea market entry woes
According to the reports, the CEO of Binance, Richard Teng, visited South Korea to iron out issues that have arisen regarding the entry of the company into the market. Teng sought to interact directly with the local financial regulatory authorities, among them the Financial Intelligence Unit (FIU). His visit comes after Binance’s fight to gain […]
Binance Appoints First Board of Directors
Binance Holdings Ltd. has installed its first board of directors, which signifies a very meaningful occurrence for the cryptocurrency exchange. According to a Bloomberg report, the new board has a composition of seven members, combining company functional heads with external specialists to steer it through its operational and regulatory environment. The New Board Composition The […]
Binance Executive Escapes Nigerian Custody, Sparks Concerns Over Security
The recent escape of the Binance executive Nadeem Anjarwalla from Nigerian detention is a matter of grave concern, in the view of critics, about the security systems in the country. Anjawalla and a famous cryptocurrency exchange leader of America, Tigran Gambaryan, got arrested in February this year for accusations of unlawful conduct connected to the […]
Crypto exchange Binance reinforces the board with three new independent members
Binance, a cryptocurrency exchange platform, has added three new independent members to its board of directors. The silent reflection of the update, through their official website, on August 1, promoted the addition of Gabriel Abed, Xin Wang, and Arnaud Ventura as independent directors to the Board, expanding the composition, which represents mainly senior Binance executive […]
Binance executives sue Nigeria – What’s the plan here?
It seems like the drama between Binance and the Nigerian government just took a turn into the courtroom. When two top dogs from the world’s biggest crypto playground landed in Nigeria this February, they weren’t expecting a VIP tour of the local legal system. Yet, here we are, Tigran Gambaryan and Nadeem Anjarwalla, two high-fliers […]
Binance-linked HKVAEX ends Hong Kong operations by May
HKVAEX, which is thought to be associated with Binance, has pulled out its license application for Hong Kong. This development followed a deadline set by the Securities and Futures Commission of Hong Kong (SFC) for cryptocurrency exchanges. The date was targeted to formalize the operations of the crypto exchanges within the area by February 29. […]
Binance executives launch legal battle against Nigerian authorities
Nigeria, high position officials of Binance, the global cryptocurrency exchange, are facing a court case with the security forces in the country. Tigran Gambaryan, the detained Binance executive, and Nadeem Anjarwalla, the African manager of the company, have both brought lawsuits against the National Security Adviser (NSA) Nigeria and the Economic Financial Crimes Commission (EFCC), […]
Binance submits extensive docs in SEC compliance effort
In the ongoing legal proceedings between the Securities and Exchange Commission (SEC) and cryptocurrency giant Binance, a new development has emerged. On March 25, Judge Zia M. Faruqui mandated both parties to submit a status report by April 5. This report will detail their progress in expedited discovery and suggest future actions. The directive underscores […]
Nigeria throws a brand new accusation at Binance as drama continues
The heat just got turned up a notch between Nigeria and Binance, the crypto exchange that is seeing more drama than a daytime soap opera. This time, Nigeria’s slinging some serious mud, accusing Binance and a couple of its top dogs of dodging taxes, right as one of them pulled a Harry Houdini and “disappeared.” […]
Binance phases out Tron USDC amidst regulatory backlash
In response to escalating regulatory pressures and an impending blockade by the Philippines Securities and Exchange Commission (SEC), Binance, a prominent cryptocurrency exchange, has announced the cessation of support for Tron network-based USD Coin (USDC) stablecoins. This strategic move comes on the heels of Circle’s withdrawal from the Tron blockchain, as regulatory scrutiny intensifies across […]
Binance faces tax evasion lawsuit from Nigerian government
The Federal Government of Nigeria has officially lodged charges against the global cryptocurrency exchange Binance. The accusations, filed at the country’s High Court on Monday, include several counts of tax evasion. The Federal Inland Revenue Service (FIRS), Nigeria’s tax authority, spearheads the case, alleging Binance’s failure in various tax obligations. The charges against Binance encompass […]
Binance executive flees custody in Nigeria amid charges
Nadeem Anjarwalla, a high-ranking executive at cryptocurrency exchange Binance, has reportedly escaped from custody in Nigeria. He and his colleague, Tigran Gambaryan, found themselves in legal turmoil, accused of tax evasion among other charges. Despite the expiry of their detention order, Anjarwalla remains unaccounted for. The escape happened from a guest house in Abuja, raising […]
Gary Gensler criticizes crypto platforms for avoiding SEC regulations
Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), addressed the compliance challenges within the cryptocurrency industry during a speech at Columbia Law School on Friday. During the speech, Gensler emphasized that certain participants in the crypto securities market are attempting to circumvent the SEC’s established disclosure regime. This regime mandates the […]
Shiba Inu boosted by Binance pay integration
The team behind the Shiba Inu ecosystem showcased the significant role Binance played in empowering SHIB holders through its innovative payments platform, Binance Pay. The 17th edition of Shib Magazine, released on March 20, 2024, shed light on this partnership, underlining the seamless integration of Shiba Inu into the Binance Pay ecosystem since November 2022. […]
Binance Labs-backed MobileCoin plunges on delisting news
Binance cryptocurrency exchange, has announced the impending delisting of MobileCoin (MOB), among two other tokens, DREP (DREP) and pNetwork (PNT), from its trading platform. The decision, disclosed in a press release on March 20, comes as part of Binance’s commitment to adapt to evolving market dynamics and ensure the best services and protections for its […]
Nigerian court orders Binance to provide trading data amidst financial crime probe
In a significant development in Nigeria’s crackdown on financial crimes involving cryptocurrency, a court has issued an interim order mandating Binance, a leading global cryptocurrency exchange, to furnish comprehensive information about Nigerian traders on its platform. The directive follows a motion filed by Nigeria’s Economic and Financial Crimes Commission (EFCC), seeking data on individuals trading […]
AI Integration Vital for Crypto Safety, Warns Binance CTO
Binance, one of the leading cryptocurrency exchanges globally, is doubling down on its investments in artificial intelligence (AI) and compliance measures to stay ahead in the rapidly evolving crypto landscape. Rohit Wad, the Chief Technology Officer (CTO) of Binance, highlighted the critical role of AI in safeguarding users and ensuring regulatory compliance. Binance bolsters compliance […]
