Binance started having problems in many countries. First, it became known about the company’s problems in Canada and the UK.
The Japanese Financial Services Agency (FSA) then urged Binance’s management not to hesitate to register to serve local traders. Now control over the activities of the exchange wants to strengthen the Securities and Exchange Commission of Thailand and the Cayman Islands Monetary Authority (CIMA).
The Thai regulator said Friday that an investigation is underway against Binance. The agency emphasized that the trading platform operates in the jurisdiction of Thailand without proper registration.
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The Securities and Exchange Commission recalled that it had warned the exchange administration back in April about the need for early licensing. However, Binance did not respond to this request.
A similar charge is being made by the Cayman Islands regulator. Last Thursday, CIMA officially announced that every cryptocurrency platform must register as a service provider. Failure to do so will be subject to sanctions against violators of this requirement.
A Binance spokesman denied all allegations and stressed that the company always complies with the laws of the countries where it operates. The exchange registers legal entities that serve traders within the framework of the current regulatory framework in a particular state.