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ASTER Zooms 20% as Binance's CZ Purchases 2M Tokens
DEX token ASTER surged as Binance founder Changpeng Zhao (CZ) purchased approximately 2 million of them, sending a wave of speculative demand across the market. Investors interpreted the purchase as a signal of confidence from one of cryptoās most influential figures, and ASTER climbed nearly 20% in response. The underlying project behind ASTER is a rebranded derivative platform that merged fromā¦
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Binanceās Send Cash: A New Transfer Service for Latin America
Binanceās Send Cash: A New Transfer Service for Latin America
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Crypto News
Binance's Regulatory Win: Dual Crypto Licenses Secured in El Salvador
Binance's Regulatory Win: Dual Crypto Licenses Secured in El Salvador
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Binance, one of the worldās most popular crypto exchange platforms, has solidified its regulatory position in El Salvador, marking the Central American nation as the 18th country where Binance has received a digital asset license.
#Binance is now El Salvadorās first fully licensed crypto exchange! šøš»
With this, Binance has approvals and registrations in 18 markets worldwide, more than any other crypto exchange, including France, Italy, Spain, Sweden and Dubai.https://t.co/BITj9zxdcZ
ā Binance (@binance) August 8, 2023
The Central Reserve Bank awarded Binance with the Bitcoin Services Provider license (BSP), while the National Commission of Digital Assets has approved Binance for the first non-provisional Digital Assets Services Provider license (DASP). The successful registration of these two licenses means that Binance can operate fully and legally in a very pro-crypto country.
Binance has been facing regulatory scrutiny this year over licensing issues in many markets such as several EU countries, Australia and Canada, not to mention its lawsuit against the United States CFTC and SEC.
The approval of these licenses in El Salvador marks a special approval in the crypto space, as El Salvador and its president, Nayib Bukele, have been extremely bullish about Bitcoin. Not only did the country become the first nation in the world to establish BTC as its national currency in 2021, but many legal frameworks have been passed to include Bitcoin Bonds, or Volcano Bonds, meant to help El Salvador build its very own Bitcoin city for:
āāInnovation and financial freedomā in El Salvador. āSince a Bitcoin bond has never been issued, a series of regulations must be issued.āā
Min Lin, Binanceās head of Latin America, shed light on the extensive diligence process the firm underwent to secure these licenses. āThis announcement comes after many months of dedication from our team to provide all information and proceed with the necessary due diligence required by the agencies, showcasing our commitment to the Salvadoran market and our users,ā commented Lin.
Further speaking on the significance, Daniel Acosta, Binanceās general manager for the regions of Colombia, Central America and the Caribbean, mentioned that these licenses offer a new spectrum of possibilities, especially in El Salvador and beyond:
āIt is also a great opportunity to collaborate closely with government authorities to support the adoption of crypto assets in the country, foster financial inclusion, innovation and ensure customer protection.ā
Adding to the exchangeās recent success amid some issues, Binance launched its Japanese exchange on August 1. Exclusively for Japanese residents, Binance Japan offers up to 34 tokens for spot trading and āautomate crypto investments over set intervals with a predetermined amount.ā
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Binanceās European exodus continues as exchange withdraws critical license application in Germany
Binanceās European exodus continues as exchange withdraws critical license application in Germany
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Binance confirmed to CryptoSlate that it had withdrawn its crypto custody license application in Germany, according to a July 26 emailed statement.
In June, unconfirmed reports emerged that BaFin, Germanyās top financial regulator, intended to deny Binanceās application for a crypto custody license. At the time, a representative from the exchange told CryptoSlate that it was in contact with regulators from the country.
Less than a month later, the exchange withdrew its license application because āthe situation, both in the global market and regulation, has changed significantly.ā
The exchangeās spokesperson told CryptoSlate that the firm intends to reapply for the appropriate licensing, adding that the new application would adequately reflect the changes in the market.
āBinance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes.ā
Binance did not provide further information about when it plans to reapply for the licensing.
Binance EU regulatory woes
The withdrawal from Germany marks another setback for the exchangeās effort to gain a foothold in Europe, where it has withdrawn from the Netherlands, Austria, Cyprus, and the U.K. in the past month over its failure to get regulatory approval.
A spokesperson for the firm previously told CryptoSlate that the exchange is focused on complying with the forthcoming Markets in Crypto Assets (MiCA) regulations to offer its services in Europe.
Ilir Laro, the sub-regional manager for growth in the U.K. and Europe, said the firm has five regulated entities within the region, including France, Italy, Spain, Poland, and Sweden.
It should be noted that the firm is currently being investigated in France for āaggravated money launderingā and illegally providing services to French users between 2020 and 2022.
Meanwhile, Binance is also facing regulatory struggles in the U.S. Two leading financial watchdogs, the CFTC and SEC, are suing Binance, its principal subsidiaries, and its CEO, Changpeng Zhao. The former is suing over alleged violations of the Commodity Exchange Act, among other CFTC regulations, while the latter is bringing charges of several securities law violations.
The post Binanceās European exodus continues as exchange withdraws critical license application in Germany appeared first on CryptoSlate.
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BaFin rejects Binanceās crypto custody license software
BaFin rejects Binanceās crypto custody license software
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In accordance to a report, the German economic regulator BaFin turned down Binanceās software for a cryptocurrency custody license.
Finance Forward, a information outlet, documented that Germanyās money authority has picked not to grant Binance a custody license for cryptocurrencies, citing resources familiar with the predicament.
The supply did not make clear no matter if the refusal was an official conclusion produced by the German Federal Monetary Supervisory Authority (BaFin) or if it was conveyed during ongoing conversations.
A spokesperson for Binance said that even though they could not disclose specific information of their interactions with authorities, they are making an attempt to comply with the disorders set by BaFin. As expected, this course of action is sophisticated and ongoing.Ā
BaFin has declined to comment on distinct companies thanks to the demanding specifications for protecting professional confidentiality in Germany. In accordance to a report printed by Finance Ahead on June 26, Binance has withdrawn its application for regulatory permission in Austria.
The organization has also terminated its registration with the securities fee in Cyprus and made a decision to exit the Netherlands next an unsuccessful registration try. Concurrently, Binance has had to suspend functions in Belgium though going through allegations from the U.S. securities authority for operating an unlicensed investing system.
In preparing for applying a new crypto legislation by the European Union, Binance has declared its intention to simplify its European system. This legislation will empower crypto enterprises to run within just a one marketplace as long as they attain regulatory clearance in one of the member nations.
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Ethereum News
Binance's Request to Modify SEC's Language Denied by Judge
Binance's Request to Modify SEC's Language Denied by Judge
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Binanceās attempt to change the way the U.S. Securities and Exchange Commissionās (SEC) portraysĀ Binance.US of handling of customer funds in a June 17 press releases was denied by a federal judge, a move the company feared could negatively influence its court proceedings.
BAM Trading, operating as Binance.US, had expressed concerns over what they deemed as the SECās āmisleading extrajudicial statementsā in a complaint filed on June 23. Binance has to respond to theĀ SECās allegations by September 21, and the SEC has until November 7 to respond to Binanceās claims:
āThe SECās press release is disappointing given the SECās prior concessions before this Court about its lack of evidence on this issue and the fact that Defendants worked in good faith before and after the Complaint was filed to address the SECās unsubstantiated concerns about BAM customer assets.ā
The legal team representing Binance argued that the SECās press release seemed to be aimed at causing unnecessary market turmoil, a move that might impact BAM clients adversely instead of protecting them.
Excerpt from the SECās press release
Judge Amy Berman Jackson, the judge overseeing the SECās lawsuit against Binance.US, dismissed these claims. She stated that the courtās duty does not extend to editing the public statements of either party involved in the case:
āIt is not apparent that Court intervention to reiterate that point is needed at this time, or that it is necessary or appropriate for the Court to get involved in wordsmithing the partiesā press releases. Nor is it clear that the agencyās public relations efforts to date will materially affect proceedings in this case.ā
The lawyers noted that the SECās portrayal also ran the risk of āmisleadingā the jury with skewed interpretations of the evidence against the defendants. They firmly insisted that there is āno evidence of misuse, co-mingling, or dissipation of BAM customer assets.ā
BAM Trading, operating as Binance.US, had expressed concerns over what they deemed as the SECās āmisleading extrajudicial statementsā in a complaint filed on June 23. Binance has to respond to theĀ SECās allegations by September 21, and the SEC has until November 7 to respond to Binanceās claims.
This filing is a part of Binanceās preparation of a lawsuit against the SEC. On June 5, the SEC sued Binance and CEO Changpeng Zhao, alleging a violation of federal securities laws.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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