Tagged: changpeng zhao

Binance Anticipates Paying Fines to Resolve Regulatory Issues in US: Report

Binance, the world’s largest digital currency exchange, is reportedly expecting to pay monetary penalties in order to settle US regulatory and law-enforcement investigations of its operations. This, according to the company’s CSO (as reported by the WSJ). Over the past five years, Binance has managed… Read More

Binance Invests in South Korean Crypto Exchange GOPAX via its Industry Recovery Initiative

Binance, which claims to be the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has invested in GOPAX, a South Korean cryptocurrency exchange licensed “to provide fiat-to-crypto services to customers, as part of its Industry Recovery Initiative (IRI).” In November 2022, GOPAX halted “the withdrawal… Read More

Binance Reveals that the Crypto Exchange Ramped Up Regulatory Compliance, User Protections in 2022

In 2022, Binance claims it ramped up its regulatory compliance and user protection initiatives. By working collaboratively with regulators worldwide, Binance reveals it has “secured registrations and licenses in 14 jurisdictions as of the end of 2022.” To further reinforce their commitment to fight against… Read More

Binance Obtains MVP License from Dubai’s Virtual Assets Regulatory Authority

Binance, the global blockchain services provider, has received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), following the issuance of its provisional license in March 2022. The MVP license “means that Binance can offer an approved range of virtual asset-related… Read More

Binance Co-Founder Yi He to Lead $7.5B VC Unit

Binance, which claims to be the world’s leading blockchain ecosystem behind the largest cryptocurrency exchange, recently announced the appointment of its Co-Founder Yi He “as the new head of its venture capital (VC) arm and incubator, Binance Labs.” Binance CEO CZ (Changpeng Zhao) stated: “As… Read More

Binance Reveals “Temporary Pause” of Bitcoin Withdrawals [u]

Changpeng Zhao (CZ), founder and CEO of Binance – the world’s largest crypto exchange has tweeted that Binance has “temporarily” halted withdrawals of Bitcoin. CZ said the pause was due to a technical glitch and all funds were safe – adding that things should be… Read More

Binance Gains Crypto Asset Service Provider License in Bahrain

Binance has received a crypto asset license from the Central Bank of Bahrain (CBB), according to the crypto exchange. This is Binance’s first digital asset-specific license. The company said approval by the CBB demonstrated its commitment to being in regulatory compliance as the first of… Read More

Binance States that it Follows Rules on Sanctions Against Russia: Crypto is “too traceable”

There has been a fair amount of discussion regarding Russia using crypto to evade sanctions. First, crypto as a market is simply too small to be an effective tool for the Russian government to utilize it to mitigate the full impact of the economic blockade…. Read More

Binance to Donate $10M to Ukraine Humanitarian Effort

Binance, a leading crypto and blockchain infrastructure provider, has committed $10 million minimum to “help the humanitarian crisis in Ukraine” via its Binance Charity Foundation. As mentioned in the update, the donation will be “split between major intergovernmental organizations and nonprofit organizations already on the… Read More

Binance Canada Registered to Operate as Money Service Business, OSC Says Not So Fast [u]

Binance Canada, or Binance Canada Capital Markets, Inc., has been registered as a Money Service Business (MSB), The Calgary-based operation is registered to provide foreign exchange dealing, money transferring, and dealing in “virtual currencies.” The registration is good until December 2024. As shared with CI,… Read More

Binance Acquires Remaining Shares of Swipe, a Crypto Visa Card Firm

Binance, the largest crypto exchange in the world, has acquired the remaining shares of Swipe, a Visa card platform that enables users to spend crypto. The terms of the deal were not disclosed. Binance acquired a majority portion of Swipe in 2020. According to a… Read More

Binance CEO Changpeng Zhao Explains Why Digital Asset Firm Welcomes Proper Regulations for Crypto Industry

Zhao Changpeng

Binance CEO Changpeng Zhao or CZ notes that there are many “misconceptions” out there about crypto and that he will address a few of them. For example, many people say that “Regulation is bad for crypto.” According to CZ, we should not hold such a simplistic… Read More

Following Investment in HG Exchange, Binance Shutters Singapore Crypto Exchange

Binance has shut down its Singapore-facing crypto exchange. The news follows a series of events that have eventually led to Binance exiting the top Asian Fintech market with a wholly owned trading platform. Binance Singapore was originally granted an exemption from holding a license under… Read More

Binance Looking for Investments from Sovereign Wealth Funds, Hopes to Offset Regulatory Pressure: Report

Binance is said to be approaching sovereign wealth funds to invest in the world’s largest crypto exchange. Binance, the largest crypto exchange in the world, has largely been able to avoid the growing concern of global financial regulators and an increasing desire to reign in… Read More

Binance Founder CZ Calls for Global Crypto Regulation

Zhao Changpeng

In a blog post on Binance today, founder Changpeng Zhao, or CZ, has issued a call for global crypto regulation to “help ensure the industry will continue to innovate responsibly while ensuring a healthy path forward for future growth.” Crypto is deemed as lacking sufficient… Read More

Former Dubai Financial Services Authority Director Appointed as Chief Regulatory Liaison Officer by Binance

The team at digital assets firm Binance notes that they are pleased to confirm the appointment of Mark McGinness, former Head of International Relations at the Dubai Financial Services Authority (DFSA). Mark joins Binance as its Chief Regulatory Liaison Officer, the announcement revealed. Binance CEO… Read More

Over 18,000 ETH Burned Since EIP-1559 Went Live on Ethereum MainNet: Report

The latest report from EthHub, the “essential” resource for Ethereum information, curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar), notes that Ethereum Improvement Proposal or EIP-1559 is now live on the Ethereum (ETH) network. Since the major upgrade went live this past week, the… Read More

Former OCC Comptroller Brian Brooks Departs Binance.US CEO Position

Former acting Comptroller of the Currency Brian Brooks has announced his exit as CEO of Binance.US. Brooks has only been the Chief Executive of Binance.US since April 2021. Binance.us is a subsidiary of Binance – the largest cryptocurrency exchange in the world. At the time… Read More

Binance Regulatory Crackdown Continues as Securities Commission Malaysia Announces New Enforcement Actions Against Crypto Exchange

The Securities Commission Malaysia (SC) has announced new enforcement actions against digital assets firm Binance. The cryptocurrency exchange operator has been accused of illegally operating its trading platform in Malaysia. The SC has now ordered Binance to immediately disable access to its website as well… Read More

Former Utah State Legislator and CEO at SmartFi Shares Comments After Reports of Binance CEO Considering Resigning from His Role

Zhao Changpeng

Changpeng Zhao or “CZ”, the CEO of Binance, the world’s largest cryptocurrency exchange in terms of adjusted trading volume, recently announced that he would be welcoming regulation. CZ also said he wants Binance to work cooperatively with regulatory authorities, across the globe, as it establishes… Read More

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