![]() The Buy Crypto feature allows you to easily buy & sell (as well as convert) cryptocurrencies on the Binance. The SEC’s aggressive attempts to cripple our industry and the resulting impacts on our business have real-world consequences for American jobs and innovation, and this is an unfortunate example of that. Please note: While Binance.US remains a crypto-only exchange, we are partnering with third-party payment providers to make it easier for you to access the world of crypto.To buy and sell crypto with a payment method, read our MoonPay FAQs. In a statement emailed to Fortune later on Wednesday, a company spokesperson said: “The actions we are taking provide Binance.US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange. ![]() 21 to formally respond to the SEC’s allegations. dollars on its platform. Binance has until Sept. customers to illegally access its main platform.Īfter the SEC filed its complaint in June, Binance.US avoided a full asset freeze requested in court by the regulator but said that its banking partners had cut it off, causing it to halt customer trading with U.S. The complaint also alleges Binance allowed some U.S. The regulator accused Binance and Binance.US of evading laws meant to protect American investors by sending billions of dollars of customer funds to a company controlled by Zhao. Now, the company is without a leader as it faces a lawsuit the SEC filed in June. He also led the company through some of its toughest regulatory challenges, including lawsuits from the U.S. The exchange had told CryptoSlate that the exits were necessary as it gave the platform more than seven years of financial runway to continue operating as a crypto-only exchange.Shroder ascended to the CEO position a month after Brooks’ departure and led the company through a $200 million funding round last year that valued Binance.US at $4.5 billion. Several top executives of Binance.US and about one-third of its staff, including CEO Brian Shroder, head of legal Krishna Juvvadi, and chief risk officer Sidney Majalya, left the company over the past week. Meanwhile, Binance.US had sought court protection from the regulator’s request for information which it had described as “troubling and inappropriate.” According to the firm, the SEC’s requests are a “fishing expedition” that is “overbroad and unreasonable.” Binance.US top executives leave. ![]() When Chang Peng Zhao launched the platform in 2018, he couldn’t have imagined this kind of success was possible in the crypto space. The platform is an instrument of BAM Trading Services that trades sums of up to 17,774,271,783 in 24 hours. Additionally, the SEC requests a 14-day extension for the discovery period, pending approval of its latest court filing. About Binance: Binance is the world’s largest cryptocurrency exchange by trading volume. “Defendants still cannot credibly explain the continued role of the Binance Entities in the custody and control of BAM’s crypto assets and Customer Crypto Assets or provide credible evidence that BAM personnel maintain sole possession, custody, and control of BAM company and Customer Assets in the United States.”Ĭonsequently, the SEC is seeking a court order to compel the embattled exchange to produce the requested documents and to reject its opposition to the original consent order. According to the financial watchdog, the crypto exchange had initially refused to provide the required information about its connection with Ceffu before making a turnaround and asking the regulator to ask Ceffu for details on how it created BAM’s wallets. The SEC further claimed that the firm refused to produce essential witnesses for deposition, adding that it “responded to requests for relevant communications with blanket objections and has refused to produce documents kept in the ordinary course of its business.”Īdditionally, the SEC claimed that Binance.US redirected its inquiry into the custody of customer assets to an offshore custodian named Ceffu. In the filing, the financial regulator stated that the exchange’s holding company, BAM Holdings, had produced 220 documents of mainly unintelligible screenshots without dates or signatures. SEC says Binance.US failed to provide the requested information Securities and Exchange Commission (SEC) has accused Binance.US of failing to cooperate, according to a Sept. Sending fund to your Binance wallet account 1) Select Deposit 2) Select your cryptocurrency type from the drop down list (ie: XRP).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |