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Binance had previously left Canada, Netherlands & Cyprus while being investigated in both France, US as well as Australia, where they also lost their derivatives license. More recently, they have left the UK and Belgium. Soon Asia will be their only major

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by COINS NEWS 84 Views

Binance had not very long ago left Netherlands, Cyprus, and previously Canada. They had also lost their derivatives license in Australia. Further, they are also being investigated for money laundering in France and also investigated in the US facing a lawsuit. At this point, the US seems a done deal especially with the attitude of politicians and separate lawsuits from both the CFTC and SEC.

More recently they have also left the UK as well as Belgium. It simply appears to be a very bad past few weeks for Binance. Even in addition to all that,early this year their stablecoin BUSD was also killed by regulators as Paxos, the issuer of BUSD, was given a cease-and-desist by regulators and thus the token can no longer be minted, the key activity of a stablecoin.

Binance does still hold a few licenses in European nation but given the stance of EU nations on Binance and how financial standards are generally the same across the EU as well as how larger EU nations pressure smaller ones it is very likely they will lose more of these remaining licenses. Outside of this, Binance holds full licenses in only Mexico across all of Latin America, only South Africa across all of Africa, just UAE and Bahrain across all of the Middle East and in New Zealand in the Pacific, which may well be influenced by Aussie regulatory action, with whom the status of their remaining Australian license looks very dubious.

submitted by /u/OneThatNoseOne
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