As US regulators continue their probe into several crypto firms, the giant crypto exchange Binance is looking to avoid litigation with the US regulators, and now, it is considering severing ties with its US partners.
This comes days after Binance stablecoin issuer Paxos, a crypto firm that issues the Binance USD algorithm stablecoin ran into trouble with the US Securities and Exchange Commission.
Binance is currently the world’s largest cryptocurrency exchange by trading volume, Binance Holdings is not licensed in the US, instead, it has a subsidiary called Binance.US which is available for US users.
This move will not be a shock to anyone who has been following Binance CEO’s recent tweets, “given the ongoing regulatory uncertainty in certain markets, we will be reviewing other projects in those jurisdictions to ensure our users are insulated from any undue harm,” Binance CEO said in a tweet which signalled a potential attempt to avoid the US regulators.
The US regulators have upped their game since the sudden downfall of the crypto exchange FTX, if this continues, more crypto firms may exit the US markets.
Also, there was a report about Binance looking to delist all US-based cry or currencies Bloomberg, a report which was immediately debunked by Binance’s CEO.
Become a member of our ParadiseFamilyVIP, we have a group of experts with many years of crypto trading experience, one of them whom you’ll have a personal interaction with will share with you personal crypto trading signals on Binance, Bybit, and Kucoin exchanges.
Use PRO20% for your special 20% discount today as the promo expires soon. Click here to see reviews from our clients.
Join our telegram channels where we share our FREE updates and analysis on coins like BTC, ETH, and other trending altcoins. We also share our FREE secret insights, and also FREE market updates.
- My Binance Paradise – https://t.me/MCP_binance
- My KuCoin Paradise – https://t.me/MCP_KuCoin
