Regulatory Tightening: Binance.US Faces Service Halts
Binance.US halts services in Florida and Alaska post-CZ's legal woes; states express regulatory concerns.
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Binance.US halts services in Florida and Alaska post-CZ's legal woes; states express regulatory concerns.
With the SEC and Binance US both claiming victory, the deal is ultimately a compromise, in favor of users.
In addition to the CFTC lawsuit, a U.S. District Court has halted the sale of Voyager Digital.
If the deal goes through successfully, Voyager customers could recover 73% of their assets.
An errant Google Forms account and an early trading launch were among the missteps that concerned team members at Binance.
The U.S. SEC and New York regulators have objected to Binance.US’s amended plan to acquire crypto lender Voyager.
Binance US said customer assets are backed 1:1, and that the company is subject to regular audits.
The Binance CEO also said the industry allowed FTX to get too big before it started questioning its actions.
The lawsuit could be the first of many for the U.S.-listed crypto exchanges that offered LUNA or UST to customers.
The new license from Puerto Rico further strengthens Binance CEO Changpeng Zhao's vision to be licensed everywhere.