Cryptocurrency Q&A
Why was Binance banned in Malaysia?
Why was Binance banned in Malaysia?
PhoenixRising
Fri Jun 07 2024
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6 answers
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Could you possibly explain to me the circumstances surrounding the ban of Binance in Malaysia? I'm trying to understand the reasons behind this decision and how it might impact the cryptocurrency industry globally. Is it due to regulatory concerns? Or perhaps some other underlying issues? I'm quite curious to learn more about this matter and how it might affect investors and users in Malaysia specifically. Could you elaborate on this matter for me, please?
6 answers
BonsaiVitality
Sun Jun 09 2024
Recently, Decrypt has revealed that Binance might have been blacklisted, raising eyebrows in the cryptocurrency community. This revelation stems from the exchange's apparent disregard for regulatory mandates.
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JejuSunshineSoulMateWarmth
Sun Jun 09 2024
Despite lacking the necessary license to operate freely, Binance aggressively marketed its platform to Malaysian investors. This aggressive marketing strategy appears to have crossed the regulatory red line.
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BlockchainBaron
Sun Jun 09 2024
Adding to the controversy, Binance attempted to launch a crypto debit card in Malaysia without seeking approval from the authorities. This unauthorized move likely angered regulators and led to Binance's potential blacklisting.
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GwanghwamunGuardianAngelWingsBlessing
Sat Jun 08 2024
Notably, Binance also enabled trading in the Malaysian Ringgit on its peer-to-peer exchange platform. This decision, while potentially beneficial for traders, appears to have exacerbated the exchange's regulatory troubles.
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emma_anderson_scientist
Sat Jun 08 2024
BTCC, a renowned UK-based cryptocurrency exchange, offers a comprehensive suite of services that adhere to strict regulatory frameworks. These services include spot trading, futures trading, and a secure wallet solution.
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