Binance Under Attack Again by Financial Regulators

Binance Under Attack Again by Financial Regulators

Yet again on the radar of regulator, the giant cryptocurrency exchange Binance has seen its fair share of controversy in the last couple of months. Following a sequence of ban or warnings, now the Central Bank of Lithuania and the Malta Financial Services Authority (MFSA) are on the move against the company.

Last Friday, the Lithuanian bank issued a warning on Binance that it is offering ‘unlicensed investment services’  to locals. The bank made a demand to Binance to disclose public information that it does not provide misleading services or information on these services.

The Lithuanian regulator issued these statements after it evaluated the exchange’s operations. The regulator concluded that its main concern should be the its crypto derivatives and stock tokens.

The other major organization that forewarned users of Binance is the MFSA. It re-published a statement that was originally set forth all the way back in February of 2020 about Binance’s unregulated activities.

For a while now Binance has been under constant attack form multiple regulators and banks worldwide. This July, Thailand issued a criminal compliant against Binance, while Japan and the UK banned Binance from operating on the countries. Other nations whose major financial regulators have complained about the exchange are the Polish Financial Supervision Authority, South Korea, the Cayman Islands, and Singapore.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus4.93/5$100 Click for a special offerWebsite
UK, Australia4.85/5$50 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite
Cyprus, Bermuda4.75/5$50 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *