#Binance fees on base or quote full
#Binance fees on base or quote license

Here, it’s worth mentioning the worst isn’t even over yet. It disclosed some leaked documents and internal conversations that showed Binance to be an almost comically inept company at some times and a cut-throat competitor that put customer funds at risk for the sake of growth at other times.Įxperts are now seriously wondering whether Binance will survive as a brand. Commodities Futures Trading Commission (CFTC) filed suit against the exchange for improper licensure and offering U.S. Of course, Binance’s reputation was already down. citizens to trade on a non-U.S.-based platform to which they were not supposed to have access. The charges focus not just on the question of whether its listings are unregistered securities, but also around whether it misled customers about how their funds were deployed, and whether it was implicitly encouraging U.S. In other words, Binance’s legal troubles are in a category above Coinbase’s.

#Binance fees on base or quote license

Over-and-above the bog-standard “you didn’t get the appropriate license to operate, sir” complaints that Coinbase also faces, Binance and CZ have been accused of endangering customer funds, enabling if not facilitating wash trading on Binance.US, improperly moving customer funds without consent and a host of other issues. It’s an odd question, in a way, at least in my limited perspective, given the seriousness of the allegations in the SEC’s suit. It’s already mass-delisting tokens, too, likely cutting into trading volumes that weren’t being faked.Īnd so, the question is whether Binance can continue business as usual, and whether it can really be – in the long term – a going concern. operation, is facing a very live concern about its ability to function, as the SEC has requested to “temporarily restrain” its assets. Second, Binance.US, the exchange’s nominally independent U.S. See also: Are Centralized Exchanges in the U.S. Several crypto strategists have said this was a good public relations move, strategically, as it may have helped the exchange dampen an otherwise deafening blow by the SEC that would have dominated “the discourse.” First, the company named a new “head of regional markets” – the former top regulator in Singapore, Richard Teng – to run the exchange in Asia, Europe, the Middle East and everywhere else it operates except in the U.S. Of course, some things are different this time around. We intend to defend our platform vigorously,” Binance said. “While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. In the days since the lawsuit was announced (during which the SEC also sued rival U.S.-based exchange Coinbase), Binance has stuck to its long-held talking points: the SEC is wrong for regulating by enforcement customer funds are and always have been safe and the exchange’s previous attempts of “coming into compliance” were thwarted by an uncooperative SEC. finance watchdogs.Īnd indeed, that has largely been the case. Further, CZ’s tweet suggested that the firm’s strategy towards regulation will largely stay the same, even now that it is being sued by two of the top U.S. It’s telling that regulatory attacks on crypto have become so common that one of the industry’s most influential players can give a rote response.

In CZ’s own words, “4” means 'ignore FUD, fake news, attacks, etc.' FUD is short for fear, uncertainty and doubt – a popular acronym in the cryptocurrency scene.

#Binance fees on base or quote full

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