The full regulatory license could turn the tides for Binance, which has been under intense regulatory scrutiny for at least two years.
Binance received its Virtual Asset Service Provider license after co-founder Changpeng Zhao gave up his voting power in the exchange’s local entity, Binance CEO Richard Teng toldThe Virtual Assets Regulatory Authority’s final requirement for granting the VASP license was for Zhao to give up his voting power in Binance FZE, the Dubai-based unit of the exchange, according to unnamed people familiar with the matter.
Binance co-founder Zhao pleaded guilty to one felony count, namely for failing to maintain adequate AML protocols, and resigned as part of the plea deal.Top five BTC miners not selling despite Bitcoin halvingDubai’s VARA officials wanted to ensure that they didn’t interfere with Binance’s recent settlement with U.S. authorities, which forced Zhao to step down from his position as the CEO of Binance.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top Cryptocurrency News Today | Binance SquareRead the top and hottest cryptocurrency and Bitcoin news on Binance Square (formerly Binance Feed).
Read more »
Binance Exec Escapes Detention in Nigeria, More Trouble for Binance?Binance executive escapes Nigerian detention, destination unknown
Read more »
Nigeria Slams Binance With Tax Evasion Charges as Detained Exec Escapes: ReportCrypto Blog
Read more »
Nigerian Court Orders Binance to Release Comprehensive Data of All Local Users: ReportCrypto Blog
Read more »
Binance to return to India after paying $2M fine for non-compliance: ReportBinance has a long history in India, from its early announcement of acquiring the local crypto exchange WazirX to revealing that the deal fell through after two years.
Read more »
Binance Could Come Back to India by Paying $2M Fine: ReportParikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. He does not have any crypto holdings.
Read more »