![]() It will be interesting to see how Binance tackles this next challenge in Cyprus while simultaneously dealing with the ongoing tussle with the SEC regarding Binance US. Last year in October, Binance successfully obtained registration as a crypto asset service provider (CASP), allowing it to offer various services in Cyprus, including spot trading, custody, staking, and card services. Binance has not yet responded to CoinDesk’s request for comment on the matter. The website states that Binance is currently being examined regarding its application for deregistration, without specifying the reason for the potential change. Start Trading Binance Cyprus Unit Under Investigationīinance’s Cyprus unit is currently under investigation and may face deregistration as a crypto service provider, as reported by the Cyprus Securities and Exchange Commission website. Don’t miss out on this exclusive offer claim your bonus now! Unleash the potential of leverage trading! Join Bybit today with our link, complete KYC, and earn up to a $40 bonus on a $100 deposit. Notably, Faruqui has previously lauded blockchain tracing technology as a powerful tool and dismissed concerns among regulators regarding “unhosted” crypto wallets held outside of exchanges as unfounded. Faruqui, renowned for conducting federal crypto investigations during his tenure as a former prosecutor, will oversee the session. ![]() In a subsequent order issued on Wednesday, the first mediation session was scheduled for June 14 at 2:45 PM Eastern Time. Judge Jackson acknowledged that an order crafted by her might not satisfy either party. She emphasized her preference for a variation of the existing arrangement, suggesting that the intricacies of the case would be better handled by the involved parties rather than herself. ![]() Binance.US expressed concerns that asset freezing would essentially halt their operations, emphasizing the importance of negotiating limits to enable continued business activities.ĭuring the hearing, Judge Jackson expressed concern about the court’s limited time to review the extensive documents and exhibits, given the requirement for another hearing within two weeks. However, Judge Amy Berman Jackson stated during a hearing that if the parties could agree on limits, such an order would be unnecessary. The SEC’s lawsuit accuses the Binance entities of selling unregistered securities, prompting the request for a temporary restraining order to freeze Binance.US’ assets. federal judge has instructed Binance and its local affiliate Binance.US to engage in a mediation conference with the Securities and Exchange Commission (SEC) to address operational restrictions amid the ongoing regulatory case.
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