Binance, the world’s largest cryptocurrency exchange, is under regular criticism from authorities in various countries. Recently released That the UK was targeting the trading platform.
For a while it seemed like that Binance All activities in the country should stop, but fortunately it turned out Fear, uncertainty and greed. However, the exchange has been subject to a number of sanctions from the UK authorities.
Thailand and the Cayman Islands
Now it is up to the next two countries to make life miserable for Binance. Financial authorities in both countries have announced some serious measures.
Thais Securities and Exchange Commission (SEC) announced on Friday They have filed a criminal complaint against Binance. According to them, Binance was going to start its landing operations without permission and without a license.
“Only service providers who have obtained relevant licenses by law are allowed to provide services related to digital asset trading, exchange or any transactions related to digital assets. Violators can be punished by law.”
Earlier in April this year, the Thai authorities had already issued a warning to Binance. However, Binance was unable to respond to this warning in writing.
The Cayman Islands Financial Authority, CIMA, has a similar complaint against Binance Submitted. According to CIMA, financial service providers must be registered and comply with local laws and regulations.
Binance is in trouble again
A Binance spokesperson told Cointelegraph that he does not agree with the allegations. In particular, the complaint from the Cayman Islands was not based on facts, according to this person. According to him, Binance has always operated as a decentralized entity.
Since 2020, Binance is said to be based in the Cayman Islands. Years ago, the trading platform was established in China, but eventually the big exchange moved to the archipelago in 2017, because China was mindful of a cryptocurrency ban. Since then, Binance has spread across different entities around the world. The company is said to have established itself in Malta in February. However, the financial authority in Malta Strongly denies it.