![]() ![]() ![]() Additionally, Protos reported on Tuesday that Binance is under suspicion of using Ireland as a European base, where it establishes various Binance companies in different jurisdictions. Ongoing investigations are also taking place in other EU states. The French police raided Binance’s offices in Paris, while Belgian authorities shut down its operations there. Regulatory activities on Binance have increased in separate EU jurisdictions following charges by the Securities and Exchange Commission (SEC). However, in a recent update in June of this year, the FCA stated that Binance had withdrawn its application for regulatory approval in the UK. In June 2021, the FCA issued a notice regarding Binance’s lack of registration as a crypto-service provider in the UK. The company wants to concentrate on fewer, regulated entities in Europe. Besides this comprehensive regulatory package, European lawmakers have approved supplementary legislation to ensure that crypto transactions can always be traced by implementing the ‘travel rule’ for digital assets.īinance, which has faced mounting regulatory scrutiny, including a legal clash with the US securities regulator regarding the classification of certain listed coins, has recently withdrawn from the Dutch market, submitted a deregistration application in Cyprus, and revoked its authorization in the UK. The European Union is preparing to enforce the recently adopted Markets in Crypto Assets (MiCA) law. “In response to valuable input from our community and the analysis of numerous projects, we have thoroughly reevaluated our categorization approach for privacy coins on our platform to ensure full compliance with EU-wide regulatory obligations.” Binance Restricts Trading on Tokens Amidst Growing Crypto Regulations However, in a recent statement by crypto media, the exchange showed that it has now revised its approach to classifying these coins. These coins were:Dash (DASH), Verge (XVG), Beam (BEAM), Monero (XMR), Navcoin (NAV), Firo (FIRO), Horizen (ZEN), Secret (SCRT), Zcash (ZEC), Pivx (PIVX), Decred (DCR), and Mobilecoin (MOB).īinance cited local regulatory requirements in these four markets that prevented it from offering privacy-enhanced cryptocurrencies. Last month, Binance informed its customers that it intended to remove 12 privacy coins in France, Spain, Italy, and Poland. #Crypto #exchange #Binance reverses planned delisting of #privacy #coins in some #EU markets /9LPi6ZqA9s After receiving feedback from some projects and traders, the company decided. Binance to Retain Support for Privacy Coins Despite Initial Delisting Plansīinance has reversed its plan to delist privacy-oriented cryptocurrencies in several EU jurisdictions. The leading coin trading platform will now maintain the availability of trading for these digital assets by reclassifying them to align with EU regulations. Join Our Telegram channel to stay up to date on breaking news coverageīinance, a prominent cryptocurrency exchange, has reversed its decision to delist specific privacy tokens across multiple European markets. ![]()
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