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The Cayman Islands joins global regulatory attacks against Binance. Is the crypto exchange under attack?
The world’s largest crypto exchange Binance is increasingly coming under fire from regulators. In recent weeks, several other regulators have either issued warnings against Binance or, in the case of Ontario, even shut down operations within their jurisdictions.
Now another negative headline joins the campaign against Binance. Namely, a press release from the Cayman Islands Monetary Authority (CIMA) states that Binance is not registered to operate as a crypto exchange from the British overseas territory.
The Cayman Islands Monetary Authority (the “Authority”) wishes to inform the public that Binance, Binance Group, and Binance Holdings Limited are not registered, licensed, regulated, or otherwise authorized by the Authority to operate a cryptocurrency exchange from or within the Cayman Islands.
Ouch.
Needless to say, the Binance CEO known by the acronym “CZ” is likely up to his neck in trouble. Most importantly, it raises the question: What’s going on?
Binance gets the full broadside
Since last week, a total of four different financial regulators have issued notices related to Binance. Last Friday, the Financial Services…
