As we are witnessing the crypto regulations getting tightened by the US’s SEC all over the world leading to bankruptcy of many exchanges.
No Binance is also being proactive to face these challenges well before it knocks their doors.
Binance Holdings, the world’s largest crypto exchange by trading volume, is considering to audit its ties with U.S. business partners as various government agencies and regulators continue to investigate the company.
Binance founder and CEO Changpeng Zhao is looking to end relationships with U.S. banks and service firms, and is also re-evaluating its U.S. venture capital investments. Binance is also considering delisting tokens issued by the U.S based projects, including Circle’s USDC stablecoin .
This was a report which was published on Friday
Soon after this previous report which was published on Friday, Zao denied of delisting the tokens attached to US based projects on Twitter… ge also added that blockchain “has no borders”.
“We pulled back on some potential investments, or bids on bankrupt companies in the U.S. for now. Seek permission first,” Zhao said in his next tweet.
The crypto exchange has been investigated by the U.S. Securities and Exchange Commission, Commodity Futures Trading Commission, Justice Department and the Internal Revenue Service.
SEC CREATES FEAR IN THE CRYPTO PLAYERS
U.S. regulators have been taking heavy enforcement action against crypto players in the last couple of weeks, leaving Binance bracing itself for SEC fines after crypto exchange Kraken was forced to shut down its staking service in the U.S. as we have discussed in our previous articles.
Now Binance is very cautious in its moves on cost benefit analysis and in making the business as necessary to protect the global customer base.