NewsletterBreaking: Binance Looks To Deregister As Crypto Service Provider In Cyprus
Binance News: Amid facing legal complications in the united states, the world’s largest cryptocurrency exchange, Binance has filed to deregister as Crypto Asset Service Provider in Cyprus. However, the official website of Cryprus’s securities regulator website didn’t mention the reason behind the deregistering application.
Also Read: US SEC Refuses To Commit Deadline in Coinbase Crypto Clarity Case
Binance Yet Reply On Deregistering
As it is still in the shadow why Binance moved forward to deregister in Cyprus. Meanwhile, the exchange in October 2022 announced its registration with the nation’s Securities and Exchange Commission. Reports suggest that the biggest exchange never started its operation in Cyprus. However, Binance hasn’t responded to its recent action.
Binance was permitted to offer spot trading, custody and several other services to Cyprus citizens. It crypto exchange agreed to comply with the nation’s anit money laundering rules with counter terrorist financing rules. Read More Binance News Here…
Biggest Exchange In Legal Trouble
The crypto exchange and its executives are facing legal tussle from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The commission filed 13 charges against Binance Entities and its founder Changpeng Zhao (CZ). The US SEC has alleged that the crypto exchange was offering unregistered securities in violation of securities laws.
In the recent court filings, a federal judge asked Binance and its US arm and the commission to sit in a mediation conference. The Binance.US highlighted that freezing its assets would eventually end its business and negotiation would allow it to continue amid the lawsuit.
Also Read: Hinman Emails Depicts SEC Fovoured Ethereum Over Other Cryptos
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- CME To Launch Spot-Quoted XRP & Solana Futures Amid Rising Institutional Inflows
- Bitwise Dogecoin ETF Launches Nov. 26 as DOGE and XRP Funds Go Live Today
- Bitget Taps Football Star Julián Alvarez in New Push for Global Crypto Adoption
- Fed’s Chris Waller Advocates for December Rate Cut, Citing Labor-Market Weakness
- Arthur Hayes Predicts Bitcoin Will Hold Above $80k as Fed Ends QT
- Top 3 Price Prediction: ETH, XRP, and DOGE Show Signs of Bullish Reversal
- Pi Coin Price Pattern Points to a Rally as Top Whale Hits 381M Milestone
- XRP Price Forecast as NYSE Clears Franklin Templeton ETF for Listing
- Cardano Price Outlook as NIGHT Token Set to Launch on December 8
- Hedera Price Set for Explosive 30% Rally as Bulls Trigger Breakout
- Bitcoin Price Prediction: Is BTC on Track to Hit $90K This Week?
