Binance.US said in the filing: “With a freeze of all corporate assets, banking partners would most likely cease to honor requests to transfer funds for any purpose, including customer redemptions.” The company said one of its banking partners had already informed it that it would halt services to Binance.US starting June 14.They just didn’t understand the game plan.” And that person didn’t really need to lose. regulators persist with their regressive stance, it feels appropriate to quote an American pioneer from a field at least as innovative as crypto decades ago - astronaut Buzz Aldrin, who said: “For every winner, there’s a loser. will only add to the UK’s attractiveness as a destination for crypto companies seeking regulatory refuge but which may prefer the steady hand of the Bank of England to that of less storied authorities in jurisdictions such as the Emirates.Īs U.S. It’s likely that the regulatory melee in the U.S. On a grander scale, the European Commission last month approved the EU’s Markets in Crypto-Assets regulation, a comprehensive regulatory framework for the sector that will bring it into the mainstream from next year in a way that Americans might find difficult to imagine amid the cack-handedness of Washington’s punitive approach.Īnd let’s not forget the United Kingdom, whose prime minister, Rishi Sunak, has long been an advocate of digital financial innovation. crypto exchanges - that’s the centerpiece of an initiative aimed at making the city an international crypto hub.ĭubai has been busily burnishing its credentials as a crypto hub for the past year, and continues to attract crypto exchanges thanks to a favorable regulatory environment and rapid licensing approvals. The lawmaker’s callout came just two weeks after Hong Kong implemented a much-anticipated regulatory framework for virtual asset trading platform operators - a.k.a. crypto exchange Coinbase - and indeed “all global virtual asset trading operators” - to set up shop in the city. Not even a lot of time: Just this past weekend, a Hong Kong legislator invited SEC-targeted U.S. regulators’ hostility to crypto isn’t already benefiting other jurisdictions’ efforts to get a slice of the action as the industry develops, just give it time. could not have offered a clearer bellwether of gainers and losers. The fact that USDC stablecoin issuer Circle was granted a license to operate as a major payment service provider by Singapore’s central bank in the same week as the Securities and Exchange Commission was busy bringing the roof down on crypto in the U.S. We are seeing that play out as U.S.’s regulatory assault on the cryptocurrency industry intensifies. It’s often said that one person’s loss is another person’s gain. That’s the mood halfway across the world from the chill that is only deepening in the U.S. Much was discussed, plans were laid, and opportunities were seeded. The Web3 industry crowd in the city of 7 million was excited and the room was buzzing. We held the event in the trendy Sheung Wan district and we had double the capacity than we had expected. Have you sent a transaction to the wrong network, like Binance Smart Chain or forgot to a memo or tag? Check out our guide on how to recover Binance transactions.Last week, I was in Hong Kong as Forkast Labs announced our partnership with The Sandbox to index the metaverse. So, I will show you how if you’re looking to close a Binance account or just disable it. It’s too early to say if this is the beginning of a trend, but regulation is coming if we like it or not, and they will be coming for the biggest exchanges. This has scared a few of their customers, making them want to close their accounts completely. There have been some negative articles in the UK regarding banks such as Barclays and Santander banning deposits and withdrawals from Binance. I believe customers do have the right to delete and remove their personal information. Although I like Binance exchange and personally use it to buy crypto, I find this a little concerning. I don’t know the full reasoning behind this, and hopefully, it will be addressed as they are receiving some pressure from the FCA.
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