After failing to set up in the U.K., Binance built a lucrative payments business called Bifinity in Lithuania. Now its leading executives are being accused of fraud.
Malaysian securities regulator bans Binance operations capital.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from capital.com Daily Mail and Mail on Sunday newspapers.
Securities Commission Malaysia Takes Enforcement Actions On Binance For Illegally Operating In Malaysia Date
30/07/2021
The Securities Commission Malaysia (SC) today took enforcement actions against Binance for illegally operating a Digital Asset Exchange (DAX). Under Sections 7(1) and 34(1) of the Capital Markets and Services Act 2007, all DAX operators must be registered as Recognized Market Operators (RMO) by the SC.
Accordingly, the SC has issued a public reprimand against Binance for continuing to operate illegally in Malaysia despite being included in the SC’s Investor Alert Listin July 2020. In this regard, the public reprimand was issued against Binance Holdings Limited (Registered in the Cayman Islands), its CEO Zhao Changpeng, as well as three other Binance entities, namely Binance Digital Limited (Registered in the UK), Binance UAB (Registered in Lithuania) and Binance Asia Services Pte Ltd (Registered in Singapore).
Binance ordered to halt operations in Malaysia by mid-August businessinsider.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com.au Daily Mail and Mail on Sunday newspapers.