Binance will be closely monitored to ensure it complies with financial regulations The Department of Justice (DOJ) has mandated that Binance, the world’s largest cryptocurrency exchange, remain under regulatory review by the Forensic Risk Alliance (FRA) for a period of three years. This directive follows a series of investigations that revealed Binance’s involvement in anti-money
The sentence will follow an admission of money laundering in the US US Prosecutors in the federal money laundering case against Binance founder Changpeng “CZ” Zhao are recommending jail time for the former CEO. He’ll be sentenced in US District Court on April 30, and he could go to prison for 36 months after admitting to violating US money laundering laws. “Given the magnitude of
The cryptocurrency exchange’s troubles are following it around the world Cryptocurrency exchange Binance is facing more difficulties outside the US, as authorities in Canada and the Philippines recently took action against the company. The company currently accounts for 58% of the total centralized exchange spot trading volume as of March 2024 and is the dominant player in the derivatives
The exchange follows Circle’s February decision to do the same The cryptocurrency exchange Binance will halt deposit and withdrawal support for TRC-20-based USD Coin (USDC) tokens in less than two weeks. It’s the latest exchange to make the announcement in a month. USDC issuer Circle announced its plans to terminate support for the stablecoin over
The changes target TrueUSD and other digital currencies The Binance cryptocurrency exchange recently revealed its plans to delist several TrueUSD (TUSD) trading pairs, the stablecoin associated with Justin Sun, the founder of Tron. The exchange published a notification on March 13 saying several TUSD pairs would be removed from the exchange, including COMP/TUSD, EPENDLE/TUSD and
A sudden increase in traffic leads the cryptocurrency exchange to temporarily curb movements Cryptocurrency exchange Binance has suspended Solana network withdrawals due to an “increased volume of transactions.” According to a March 6 announcement, the company expects to find a solution and restart withdrawals on March 9. “Withdrawals on the Solana (SOL) network have been
The use of Trezor technology might be creating issues for the cryptocurrency wallet app A US Department of Commerce agency is examining an old version of the “Binance Trust Wallet app” for its susceptibility to allowing attacks to swipe customer funds from their crypto wallets. In particular, iOS devices may be at risk. The National
The suit accuses the cryptocurrency exchange of facilitating terrorist payments Cryptocurrency exchange Binance, its former CEO Changpeng Zhao, and the governments of Syria and Iran have been named as defendants in a suit filed by families of three victims impacted by Hamas’ October 7 attack on Israel. The plaintiffs include family members of persons affected,
Alaska and Florida tell the exchange that it’s not welcome in their states Binance.US cryptocurrency exchange is still under pressure from US regulators in the wake of the former CEO Changpeng Zhao’s guilty plea. Florida and Alaska regulators have communicated to Binance.US that the firm can no longer serve residents in their states, according to
The fine is the result of the exchange allegedly operating in the US without proper licenses A US court has ordered cryptocurrency exchange Binance and its former CEO, Changpeng “CZ” Zhao, to pay $2.7 billion to settle claims it violated US monetary regulations. CZ must also pay $150 million to the Commodity Futures Trading Commission
The cryptocurrency exchange will pay over $4 billion in fines and penalties in the US Changpeng Zhao, billionaire and the now-former CEO of the Binance cryptocurrency exchange, pleaded guilty on Tuesday to federal charges in the latest trial to restrain the often unchecked cryptocurrency industry. Binance has agreed to pay more than $4 billion in
The cryptocurrency exchange was able to reverse a massive hack almost as it took place The Binance cryptocurrency exchange demonstrated extraordinary efficiency in protecting user assets during a recent situation. Binance CEO Changpeng Zhao (CZ) disclosed that the firm successfully froze most of the funds looted from its client executives. While on a business trip
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