It was forced to discontinue operations in Canada earlier this month after the country issued a series of new guidelines for cryptocurrency exchanges including investor limits and mandatory registrations. Local crypto exchange Independent Reserve sources its liquidity from its own platform, connecting traders with each other rather than buying assets through a third party.īinance is fighting regulatory fires around the world. “We were offering an onramp before Binance Australia came to the market and that’ll continue,” the spokesman said. He said customers deposited Australian dollars with the broker, which then converted them into US dollars before swapping them for bitcoin using Binance’s international services, not the local one. But a spokesman said the inability of Binance to facilitate Australian dollar withdrawals would not affect operations at Swyftx. The lawsuit also alleges Binance “willfully evaded” US law as it solicited American customers for its derivatives business.īrisbane-based crypto broker Swyftx has long used Binance to facilitate the bulk of its liquidity for its 600,000 customers. The regulator alleges Mr Zhao and another executive were operating an illegal exchange and a sham compliance program. Rather than transfer digital assets directly to another cryptocurrency exchange via the blockchain, many Australian investors have instead cashed out their crypto holdings on the Binance platform, creating downward pressure on prices.
“The team are working to find an alternative provider to continue offering deposits and withdrawals,” a Binance spokeswoman said. Bloombergīinance has told its 1 million Australian customers that any Australian dollars left on its books by Wednesday will be converted into USDT, a type of cryptocurrency pegged to the US dollar.īinance will not use its own US dollar-backed stablecoin BUSD because the issuer of this asset also stopped its working with Binance in February. It does not store any personal data.Australian customers of Binance are so desperate to quit the Dubai-based crypto exchange since it lost its banking partners earlier this month that they are willing to accept a $6000 haircut to liquidate their bitcoin.īinance will stop facilitating all Australian dollar withdrawals on Wednesday after its banking partner, Cuscal, wound down its partnership citing fraud concerns, and big bank Westpac banned customers from transferring to the exchange.īinance is the biggest cryptocurrency exchange in the world. Binance, the world’s largest cryptocurrency exchange, is reportedly negotiating with several banks hoping to allow its institutional clients to keep trading collateral outside the exchange. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
This cookie is set by GDPR Cookie Consent plugin. Binance, the world’s largest cryptocurrency exchange, is dealing with some major uncertainty after getting hit with a lawsuit from the US’s Commodity Futures Trading Commission, or CFTC.
0 kommentar(er)
