Binance
Recent News About Binance
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Changpeng Zhao, founder and former CEO of Binance, addressed the ongoing issue in the United States regarding the classification of cryptocurrency.
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Irina Heaver, a crypto lawyer at NeosLegal, said that laws and compliance standards are significantly "behind the technology" by 15 to 20 years.
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The clamor for U.S. intervention in the suspected Nigerian kidnapping of a California-raised Binance crypto executive is escalating in a case wrought with irony.
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Richard Teng, the Chief Executive Officer (CEO) of Binance, the world's largest cryptocurrency exchange, stated that American regulatory agencies have acknowledged the efforts Binance has made to enhance its compliance. Teng assumed the role of CEO in November as part of a settlement with the U.S. government to resolve historical compliance issues associated with Binance.
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Binance was wrong in not complying with regulations, but the enforcement and consequences it faced highlight a double standard in the financial industry, where traditional institutions often engage in worse practices but face milder repercussions, and the effectiveness of such regulations in truly preventing illicit finance is questionable.
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France implemented a regulatory framework for digital assets in 2019 through the PACTE law, establishing its financial regulator, the AMF, as the supervisory authority of virtual tokens and digital asset service providers (DASP), Adan reported.
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On Thursday, September 21, 2023, Binance Holdings and its CEO, Changpeng Zhao (CZ), submitted a motion to dismiss the lawsuit initiated by the U.S. Securities and Exchange Commission (SEC). The filing, made to the U.S. District Court for the District of Columbia, contends that the SEC had overstepped its jurisdiction in the case. The filing argues that the regulatory agency didn't offer clear cryptocurrency sector guidelines, making their legal action unwarranted.