Regulators in Japan, the United Kingdom and the Canadian province of Ontario have all tightened their grip on cryptocurrency exchanges. Binance has been caught in the crosshairs.
The world’s largest cryptocurrency trading platform, Binance, has faced regulatory upheaval over the past week as jurisdictions clamped down on the use of unauthorized exchanges and warned citizens against accessing them. For Binance, adopting the moniker of “global exchange” has done very little to appease regulators that require specific licenses to offer financial services to their citizens. Below is a brief recap of recent regulatory actions surrounding Binance. JapanOn June 25, Japan’s Financial Services Agency, or FSA, accused Binance of operating in the country without proper registration – potentially setting the stage for a protracted legal battle with regulators. That’s because, unlike other jurisdictions, Japan has carved
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