Cryptocurrency Q&A
Why is Binance blocked in the US?
Why is Binance blocked in the US?
InfinityRider
Fri Mar 29 2024
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7 answers
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I'm somewhat puzzled about the recent news that Binance has been blocked in the United States. As a leading cryptocurrency exchange platform, Binance has always been known for its innovative services and robust security measures. Could you please elaborate on the reasons behind this decision by the US authorities? Is it related to regulatory concerns, security issues, or something else? And what does this mean for the cryptocurrency community in the US and beyond? I'd appreciate it if you could provide some clarity on this matter.
7 answers
Marco
Sun Mar 31 2024
This lawsuit marks a significant regulatory action against a major player in the cryptocurrency industry, Binance, which has millions of users and significant market influence.
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Arianna
Sun Mar 31 2024
The SEC's lawsuit centers on Binance's operations in the United States, which have been criticized for lacking transparency and compliance with securities regulations.
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mia_harrison_painter
Sun Mar 31 2024
Last year, the Securities and Exchange Commission (SEC) filed a lawsuit against Binance Holdings Ltd., BAM Trading Services, BAM Management U.S., and Binance's founder, Changpeng "CZ" Zhao.
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CherryBlossomGrace
Sun Mar 31 2024
The SEC alleges that Binance has failed to register as a securities exchange or broker-dealer in the United States, despite offering trading services for securities tokens.
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BlockchainBrawler
Sun Mar 31 2024
The lawsuit also accuses Binance of engaging in other illegal activities, such as operating an unregistered trading platform and selling unregistered securities.
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