Binance said on Wednesday it had appointed a former U.S. Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by one of the world’s largest crypto exchanges to reinvent itself as a regulated financial firm.
Binance, the world’s largest cryptocurrency exchange, said on Monday that it would stop offering cryptocurrency margin trading involving the Australian dollar, euro and sterling.
Ether investment products and funds posted record outflows in the last week of June, bearing the brunt of negative sentiment on cryptocurrencies, according to data on Monday from digital asset manager CoinShares.
A growing number of crypto asset firms are abandoning attempts to register with Britain’s financial regulator as global scrutiny of the rapidly-growing sector intensifies.
Bitcoin on Monday shrugged off a move by Britain’s financial watchdog to target the major Binance exchange, in the latest sign of regulatory pressure on the emerging cryptocurrency sector.
China’s central bank said on Monday it had recently summoned some banks and payment firms, including China Construction Bank (601939.SS) and Alipay, urging them to crack down harder on cryptocurrency trading.
Global digital currency exchanges are exploring ways to set up in India, following in the footsteps of market leader Binance, industry sources told Reuters, while the government in New Delhi dithers over introducing a law that could ban cryptocurrencies.