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USDC issuer Circle recently submitted a filing advocating for stablecoin s. The firm contended that this particular asset niche should not be categorized as ‘ sec urities.’ Circle ’s filing marks the firm’s intervention in the SEC’s lawsuit against the world’s largest exchange, Binance. To be more specific, the filing falls under the ‘amicus curiae’ or friend of the court category. The filing was made in part by Circle ’s Chief Legal Officer, Heath Tarbert. Interestingly, he has served as the Chair of the CFTC in the past. Also Read: Chainlink’s 33% Recovery May Trigger Positive Q4 2023 Stablecoins Don’t Have ‘Investment Contract’ Features: Circle In Q2 2022, the SEC filed a lawsuit against Binance and its executive, Changpeng Zhao, for securities law violations. The regulator accused the exchange of mishandling customer funds. Additionally, it also blamed the exchange for allegedly lying to both regulato...

Binance fully exits Russia with sale of business to CommEX. Transition will last a year, the exchange said in an announcement on Wednesday, September 27. Binance has announced its exit from Russia, with its business sold to newly formed cryptocurrency exchange CommEX. An announcement on Wednesday stated that the exit comes after an agreement that sees it sell “the entirety of its Russia business” to the CommEX team. Binance fully exits Russian market While it did not disclose any financial details, Binance noted in the announcement that the off-boarding process will last one year.  According to Binance , its deal with CommEX is unlike others that international companies struck in the wake of Russia ’s invasion of Ukraine and the launch of sanctions by EU and the US. It’s a full exit. “ Unlike similar deals from international companies in Russia , Binance will have no ongoing revenue split from the sale, nor does it maint...

The Cyprus branch of the global cryptocurrency exchange, Binance, has submitted an application to withdraw its registration as a crypto asset service provider, according to the country’s securities regulator. According to Reuters, the regulator disclosed this information but did not provide any reasons for the application. Binance, a leading player in the world of cryptocurrencies, has a presence in many countries, including Cyprus. It offers a platform for trading a variety of digital currencies like bitcoin (BTC), ethereum (ETH), and many others. However, the recent move to deregister its Cyprus unit as a crypto service provider has raised eyebrows in the crypto community. The Cyprus Securities and Exchange Commission (CySEC) is the regulatory body that oversees the operations of financial service providers in the country. It maintains a register of crypto asset service providers, and binance’s Cyprus unit was one of the entities on this list. The recent applicat...

One of Binance’s top executives is reportedly exiting the company following several senior executive departures in recent months.  Binance Asia-Pacific (APAC) chief Leon Foong is resigning from the firm, Bloomberg reported on Aug. 31, citing people familiar with the matter.  While the report does not state the reason for Foong’s exit, the executive has become the latest senior employee to leave the crypto exchange. Binance has also seen the departure of several top executives, including general counsel Hon Ng, senior vice president for compliance Steven Christie, and chief strategy officer Patrick Hillman.  You might also like: Head of Binance APAC suggests full audit not coming Meanwhile, the latest development comes as Binance faces regulatory pressure from regulators in the United States, France, and Australia. In the US, the company was sued by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for vari...

Binance Support account repeatedly claimed on X that the company had suspended EUR transfer s until further notice. In an Aug. 21 tweet, Binance’s customer support wrote that direct bank transfer for EUR currency is in maintenance. Still, card-based deposits and withdrawals still work, as well as the peer-to-peer system. Hello there, Please be informed that currently, direct bank transfer for EUR currency is in maintenance. However, you still can try to use card deposit/withdrawal from here: https://t.co/EDd2bXuELY Also, you can try our "buy crypto with card" option from here:… — Binance Customer Support (@BinanceHelpDesk) August 21, 2023 A different tweet also clearly states that SEPA transfer s are suspended on the platform, and there is “no fixed schedule for it to be resumed.” Hi Jayjay! SEPA deposit/withdrawal is currently unavailable and we have no fixed schedule for it to be resumed. As we're working on alternative options, meanwhile,...

Approximately 68.3 billion LUNC tokens have been burned so far, accounting for approximately 0.99% of the total token supply. Of this burned amount, 44.8 billion LUNC tokens have recently been sent to the burning address. Restore the digital currency’s reputation Luna Classic HQ has announced that 68,303,850,914 tokens were burnt, representing 0.99% of the total supply, and of this amount, 44,789,088,501 has been sent to the burning address. The update comes as part of the decision to burn all Terra Classic token s from the community pool and the token s that were reminted via Binance’s LUNC burn wallet. The main goal of the decision is to burn enough Terra Classic token s to restore the digital currency’s reputation after it became disconnected from its linked algorithmic stablecoin USTC. $LUNC BURN UPDATE We’re getting close to 70Billion LUNC BURN Hold #LuncArmy pic.twitter.com/ACeagflUSQ — LunaClassic HQ (@LunaClassicHQ) July 10, 2023 Binance has a...

According to Belgium’s Financial Services and Markets Authority, Binance, the largest cryptocurrency exchange globally, has been found to provide services from non-European economic area countries. The regulator stated that individuals and companies operating in Belgium, but not belonging to the European economic area, are prohibited from offering exchange services between virtual currencies and legal currencies, as well as custody wallet services. JUST IN: Belgium order s #Binance to cease crypto service s in the country. — Watcher.Guru (@WatcherGuru) June 23, 2023 An order for Binance Belgium’s Financial Services and Markets Authority (FSMA) has reportedly issued an order for Binance, the leading cryptocurrency exchange, to halt all virtual currency services within the country. According to the regulator’s statement, the FSMA alleged that Binance was providing exchange services between virtual currencies and legal currencies, as well as custody wallet...

The world’s top crypto exchange, Binance, will allegedly halt the trading of privacy coins in France next month. Several users received e-mails from the exchange “formally” notifying them about the development. The translated version of the announcement read, “ Due to local regulatory requirements, Binance is no longer able to offer Enhanced Anonymity (“EAC”) crypto-assets (commonly referred to as “privacy coins” in English) in France . “ Binance disables trading of privacy coins for French residents, citing local regulatory requirements — unfolded. (@cryptounfolded) May 31, 2023 Chalking out the restriction date and tokens involved, Binance’s e-mail notified users, “ From June 26, 2023, users residing in France will no longer be able to buy or sell the following EACs on our platform: DCR, DASH, ZEC, ZEN, PIVX, NAV, SCRT, XVG, FIRO, BEAM, XMR, MOB .” Also Read: Binance Partners Ingenico for Payment Solutions in France The Restriction Schedule According to the announc...

Patrick Hillmann, Binance ’s Chief Communications Officer commenting on the allegations hinted that it is a desperate move to publish a negative story against them. He claimed that the basis of all the assertions is users purchasing BUSD (Paxos) from the crypto exchange were transacted to a page that mentioned a deposit. advertisement Binance Executive highlighted that the traders on the exchange were purchasing the stablecoin that was redeemable by Paxos, while it was clearly mentioned on the alleged page. Earlier, Paxos received the Wells Notice from the United States Securities & Exchange Commission (SEC). The Watchdog alleged that Binance USD (BUSD) was unregistered security. However, the New York Department of Financial Services (NYDFS) asked the stablecoin issuer to halt the service. (THIS IS A DEVELOPING STORY) Recommended Articles Crypto Telegram Channels List...

“Huge DJs” no longer appear at crypto events, instead, attendees are seeing more “well thought out, intelligent questions” being asked. The extended crypto winter has pushed crypto event organizers to tone down on the lavishness, allowing attendees to focus on asking more “intelligent questions” about regulation and tax. Crypto conferences attract all sorts from the crypto space, from founders and high-level executives to crypto influencers and everyday users. Tiffany Fong, a crypto vlogger who gained fame interviewing former FTX CEO Sam Bankman-Fried following the collapse of the exchange, is attending crypto conferences for the first time this year. Speaking to Cointelegraph, Fong — who attended both Bitcoin Miami 2023 and NFT NYC 2023 — said she “can’t speak to how conferences used to be in the bull market s,” but has been told by other attendees that it is lighter on the entertainment side this year. “People have named dropped huge DJs that have performed in past conferences durin...

BTC options and derivatives markets seem unfazed by the CFTC’s recent action against Binance, but is that a good or a bad sign? The price of Bitcoin (BTC) fell 3.6% to $26,900 after Binance and CEO Changpeng "CZ" Zhao were sued by the United States Commodity Futures Trading Commission (CFTC) on March 27. To date, Binance has been investigated by the CFTC, the US Securities and Exchange Commission (SEC), the Internal Revenue Service and federal prosecutors. The Bitcoin price correction may have been limited due to Silicon Valley bank’s successful asset sale to First Citizens BancShares at a $16.5 billion discount, which received an extraordinary credit line from the Federal Deposit Insurance Corporation (FDIC) to compensate for potential future losses. Oil prices also increased by 5% on March 27 after Russian President Vladimir Putin escalated geopolitical tensions in Europe. According to Yahoo!Finance, Russia plans to station tactical nuclear weapons in neighboring Belarus, ...

Only selected ERC-721 collections in the Polygon network are currently available on the Binance NFT marketplace. Binance NFT, the nonfungible token (NFT) arm of crypto exchange Binance, has announced that the Polygon network has been included in its supported blockchains within the marketplace.  According to the announcement, the move further expands the NFT ecosystem within the Binance community. With the new integration, users of the Binance NFT marketplace can trade NFTs on various blockchains like Ethereum, BNB Smart Chain and Polygon using their Binance accounts.  We’ve now added support for Polygon on the # Binance NFT Marketplace! Users can now buy, sell, deposit and withdraw NFTs on the Polygon network Find out how to get started ️ — Binance NFT (@TheBinanceNFT) March 8, 2023 Despite the announcement, Binance is still keeping a strict approach to its NFT listings. Within the announcement, the NFT marketplace highlighted that not all NFT collections would be available at t...

On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the recent FUD surrounding Binance and why Solana went down yet again. This week on The Market Report, the resident experts at Cointelegraph discuss the recent fear, uncertainty and doubt (FUD) around the popular cryptocurrency exchange Binance and what the CEO of Solana had to say about recent outages.  We kick things off with this week’s top stories Binance CEO respond s to Forbes claims: ‘They don’t know how an exchange works’ In the aftermath of the FTX collapse, Forbes published an article focused on the recent “shuffling” of funds by the Binance cryptocurrency exchange. However, the following day on Feb. 28, Binance co-founder and CEO Changpeng “CZ” Zhao took to Twitter to respond. Our experts weigh in on what CZ had to say and also what exactly the FUD surrounding Binance was. If you are a Binance user, should you be worried? Solana CEO hoses down claims network outages caused by on-chain voti...