Binance In Malaysia Ban As It Ends Derivatives Trade In Parts Of Europe

Binance in Malaysia ban as it ends derivatives trading in Germany, Italy, Netherlands
World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.
Despite recent moves to bolster regulatory compliance, Binance very much remains in regulators’ crosshairs, with Malaysia becoming the latest country to ban it. Anticipating more regulatory trouble elsewhere, Binance has also closed its lucrative derivatives business in Germany, Italy and the Netherlands.
According to an announcement dated July 30, Malaysia’s securities regulator said it had issued a public reprimand to Binance for illegally operating a digital asset exchange in the country. The reprimand was issued against Cayman Islands-registered Binance Holdings Ltd., Binance CEO Changpeng Zhao and three other Binance entities — UK-registered Binance Digital Ltd., Lithuania-registered Binance UAB and Singapore-registered Binance Asia Services Pte. Ltd. 

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