Binance sec investigation

Binance has recently become the subject of numerous probes by regulatory bodies in cases related to money laundering, tax evasion, and unlicensed operations. Binance provides trading and exchange services via its website by:. Matching orders or arranging for the counterparties or providing the system or facilitating entry into an agreement or match the order for persons who wish to trade or exchange digital assets. Investigation discloses that Binance solicits the Thai public and investors through a Facebook page called Binance Thai Community, to use its services while it has no license to operate. In doing so, Binance has violated or failed to comply with section 26 of the laws of the SEC, making them liable to criminal sanctions under Section 66 of the Digital Asset Businesses Emergency Decree.



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WATCH RELATED VIDEO: NCFTA onboards crypto exchange Binance to fight against cybercrime

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Binance logo and stock graph are displayed in this illustration taken, June 28, Sept 17 Reuters - U. Authorities are looking into whether Binance or its staff profited by taking advantage of its customers, Bloomberg reported , citing people with knowledge of the matter. The company has faced warnings and business curbs from financial watchdogs from Britain and Germany to Japan, who are concerned over the use of crypto in money laundering and risks to consumers.

The exchange, whose holding company is registered in the Cayman Islands, has scaled back its product offerings and said it wants to improve relations with regulators.

The review involves Commodity Futures Trading Commission CFTC investigators, who in recent weeks have been reaching out to potential witnesses, the Bloomberg report said, adding that Binance has not been accused of wrongdoing and the investigations may not lead to any official action.

The CFTC did not immediately respond to a request for comment. Subscribe to our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. More from Reuters. Daily Briefing Subscribe to our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. Sign up.



sec binance investigation

Binance logo and stock graph are displayed in this illustration taken, June 28, Sept 17 Reuters - U. Authorities are looking into whether Binance or its staff profited by taking advantage of its customers, Bloomberg reported , citing people with knowledge of the matter. The company has faced warnings and business curbs from financial watchdogs from Britain and Germany to Japan, who are concerned over the use of crypto in money laundering and risks to consumers.

Earlier today, the Cayman Islands Monetary Authority said that it started an investigation against the exchange.

Binance is under investigation, it sparks fear in crypto markets

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Tether (USDT) And Binance Coin (BNB) Are Likely Targets For SEC Lawsuit, Says Crypto Legal Expert

binance sec investigation

Compliance , Financial Crime. A few incidents of fraud and phishing attempts using hoax messages and letters purporting to be from OLAF, the European Anti-Fraud Office have been detected. They often offer to transfer you money on condition that you pay a charge and provide your financial and personal data. An illegal production line of cigarettes flooding the French market with millions of counterfeit cigarettes has been dismantled in Slovenia as a result of a complex investigation between the French and Slovenian authorities with the support of Europol.

Binance logo and stock graph are displayed in this illustration taken, June 28,

SEC files criminal complaints against Binance for operating without a license in Thailand

Written by Kevin Mwanza. Binance Holdings, the largest cryptocurrency exchange in the world by trading volume, also twice suspended and then resumed withdrawals of all currency on its website earlier in November, raising questions about whether it is acting more like a casino than a currency exchange and selling more crypto than it has access to. Basically Binance is super shady. They said they were frustrated by the platform, according to a CoinDesk report. Their not responding to any messages over the past couple days.. Ugandans are people to.


Binance Investigated by US Authorities Over US Trading Activity

Thailand's financial watchdog filed a criminal complaint against cryptocurrency exchange Binance on Friday for operating a digital asset business without a licence, the latest in a string of crackdowns on the platform by regulators globally. Thailand's Securities and Exchange Commission SEC said in a statement that Binance had been operating a digital asset business "in the category of a digital asset exchange" without a licence. In Thailand, only licensed firms are allowed to provide services related to digital asset trading, the SEC said. The Commission had warned Binance over its activities in a letter in April but received no response, it said, leading it to then file a criminal complaint with the Thai police. A Binance spokesperson declined to comment specifically on the Thai complaint, saying it takes a collaborative approach to working with regulators and takes its compliance obligations seriously. Britain's financial watchdog last week barred the company, one of the world's biggest exchanges, from carrying out regulated activities in the country. Japan's regulator said last week Binance was operating in the country illegally, while Germany's watchdog said in April it risked being fined for offering tokens connected to stocks.

Whether the SEC has launched an official investigation or not, it appears someone at the SEC has been looking into Binance's activities.

Binance SEC Investigation Myth (Crypto Exchange CEO Explains)

Bloomberg, the largest US financial news agency, reported that Binance , the largest cryptocurrency exchange in the world, is being investigated by Securities and Exchange Commission SEC of the United States for financial market manipulation. But is the SEC investigating Binance for data misuse? According to anonymous sources, the US stock market supervisor has accused the exchange of use data and information on the commercial activity of its users to carry out transactions on the markets for their own purposes. The Commodity Futures Trading Commission, which oversees derivatives trading, is said to be involved in the investigation and has already called witnesses.


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RELATED VIDEO: Binance SEC Investigation Myth (Crypto Exchange CEO Explains)

Binance is facing yet another regulatory setback. Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.

According to the data from a third-party traffic statistics website, Alexa, users in the U. Also, considering that the scale of digital asset trading for the users in the U.

Binance crypto exchange recently started offering fractional tokenized shares of Tesla and Coinbase allowing customers to get access to traditional stock market shares from within the platform. However, this move could backfire as reports suggest the exchange might face the wrath of European regulators for offering equity. The Financial Conduct Authority of the United Kingdom in a recent press briefing said that it is in talks with the cryptocurrency exchange to determine whether the new tokenized stocks violated any regulations. The official statement read,. The European security laws suggest if tokens are transferable, can be traded at a crypto exchange, and are equipped with economic entitlements like dividends or cash settlements, they represent securities and are subject to the obligation to publish a prospectus.

Binance, the world's biggest cryptocurrency exchange, has been issued a warning by the UK's financial regulator. It also advised people to be wary of adverts promising high returns on cryptoasset investments. Binance said the FCA notice would have no "direct impact" on the services it provides from its website Binance. Binance's existing crypto exchange is not UK-based so despite the FCA ruling, there will be no impact on UK residents who use the website to purchase and sell cryptocurrencies.


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