Cryptocurrency Q&A
Why Binance is not allowed in usa?
Why Binance is not allowed in usa?
GeishaMelodious
Mon May 20 2024
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7 answers
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Could you please clarify why Binance is not permitted in the United States? I'm curious to understand the reasons behind this regulatory decision. Is it due to concerns over the security of cryptocurrency exchanges, or perhaps something related to tax compliance? Alternatively, is it a matter of Binance's business model not aligning with US financial regulations? I'm eager to gain a deeper understanding of this situation and how it might affect the cryptocurrency landscape in the United States. Could you provide some insights?
7 answers
CherryBlossomKiss
Wed May 22 2024
The SEC has levied accusations against Binance and its U.S. subsidiary, alleging that the entities, along with their CEO, Zhao, have been engaging in unregistered broker-dealer activities. This allegation marks a significant escalation in the regulatory scrutiny surrounding the cryptocurrency exchange.
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CryptoQueen
Wed May 22 2024
The SEC's complaint centers on the violation of two key securities laws: the Securities Act of 1933 and the Securities Exchange Act of 1934. These acts govern the registration and conduct of broker-dealers in the United States, ensuring the protection of investors and the integrity of the financial markets.
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SamuraiWarriorSoul
Tue May 21 2024
In addition to spot trading, BTCC also provides futures trading, enabling investors to speculate on the future prices of cryptocurrencies. This service offers additional opportunities for profit but also comes with higher risks.
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Leonardo
Tue May 21 2024
Binance, as one of the largest cryptocurrency exchanges globally, has long been a target of regulatory attention. The exchange has faced scrutiny from multiple jurisdictions, with authorities expressing concerns over its compliance with local laws and regulations.
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CryptoWarrior
Tue May 21 2024
Zhao, as the CEO of Binance, is personally implicated in the SEC's accusations. The agency alleges that he has been actively involved in the unregistered broker-dealer activities, putting him at the center of the regulatory storm.
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