Binance users will be required to generate new wallet addresses in the coming months as the crypto exchange has announced its plans to implement a comprehensive update to its wallet infrastructure. The new update is aimed at enhancing efficiency and strengthening fund security on the exchange. However, as a result ...
According to a local report, Binance has been denied a crypto custody licence by Germany's financial watchdog, the Federal Financial Supervisory Authority (BaFin). Earlier this year, Binance underwent a change in leadership in Germany, with Jonas Jünger taking over and prioritizing the acquisition of a crypto custody licence from BaFin. ...
Binance has shifted its focus to the United Arab Emirates (UAE) as its primary target for future operations. Alex Chehade, the general manager of Binance Dubai, revealed this in an interview with Cointelegraph on Monday, June 26, 2023. According to Chehade, the exchange recognizes UAE's current administration's plans to establish ...
Binance.US has provided an update to its customers regarding the recent issues it faced with U.S. dollar withdrawals. In a customer update issued on June 22, 2023, Binance.US assured users that its system is fully functional and stated that the processing of U.S. dollar withdrawal requests is expected to resume ...
Guilherme Haddad, the Director of Binance Brazil, has been summoned to appear before the Brazilian parliament as part of a broader investigation into alleged pyramid schemes in the country. The request was made public on Wednesday, June 21, 2023, by Deputy Alfredo Gaspar, a member of the Parliamentary Commission of ...
Binance has confirmed that it has commenced operating nodes on the Bitcoin Lightning Network. This move aligns with their strategic objective of integrating the Lightning Network to facilitate seamless deposits and withdrawals. On June 20, 2023, Binance confirmed this development in a tweet, responding to observant users who had noticed ...
Binance.US has opposed the U.S. Securities and Exchange Commission’s (SEC) motion for a temporary restraining order that seeks to freeze its assets. In a filing submitted on June 12, 2023, Binance.US labelled the SEC's emergency application as "draconian and unduly burdensome," claiming that it would effectively result in the company's ...
Binance is currently facing challenges in its business endeavours in South Korea due to legal issues with financial regulators in the United States. The U.S. SEC recently filed a lawsuit against Binance; it accused the crypto exchange of commingling user funds and violating multiple securities regulations. The regulator brought 13 ...
Robinhood is taking proactive measures in response to recent actions by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase. The popular retail brokerage platform is reportedly investigating its cryptocurrency services and carefully reviewing the regulator's stance to determine its course of action. The SEC's recent legal action ...
The United States Securities and Exchange Commission (SEC)'s recent lawsuit against Binance has substantially impacted both the crypto market and the exchange's financial position. Since the announcement of the lawsuit, there has been an increase in user withdrawals of Bitcoin, Ethereum, and Stablecoins from Binance's exchange platform. However, it is ...
