Binance has been in all sorts of trouble with different
regulators all around the world and this has been an ongoing story over the
last few months.
Quick Growth
The exchange has grown very quickly over the last couple of
years and most of this growth has been on the back of a relentless pursuit of
users across various regions with scant respect for the existing or forthcoming
regulations.
While this was fine till a year back as the regulators were
yet to come to grips with crypto, the situation has changed drastically over
the last year or so with a lot of mainstream users also jumping into crypto
during this period.
This has forced the regulators to sit up and take notice and
realize that they can no longer be lax with their regulations on crypto and
that they would need to bring in control and a framework to regulate crypto for
now and the future as well.
This had led to cracking down on the operations of Binance
by the various regulators and Turkey also seems to be following suit. No
details have been revealed about the kind of violations that were committed by
the local branch of Binance and whether more action would follow or any
corrective action would be taken by the company but it comes on the background
of reports that the Turkish authorities would be looking to regulate crypto in
the coming year.
This seems to be the approach of many of the regulators around
the world who are also looking to come up with a regulatory policy surrounding
crypto and ensuring that it does not interfere too much with the existing
financial ecosystem.
Crypto Companies to Work Together with Regulators
Some of the governments have chosen to ban crypto outright
but it is generally believed that this approach may not work in the long run.
On the other hand, crypto companies like Binance are also
working hard to ensure that they become compliant and regulated and are now
willing to work with the authorities to achieve the same.
They realize that its time for the industry to move
mainstream and this cannot happen with the full support of the regulators and
hence are now ready to cooperate with them to take crypto to the masses.
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33 comments:
BINARY SCAM RECOVERY
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Most brokers take advantage of their customers funds because they feel these customers don’t know how to get their funds back, But trust me there are hidden ways you can get your lost funds back from the broker. I was able to withdraw my $34000 from the two brokers I signed up with while trading. If you have lost funds to broker that is more than $5000 kindly get your money back. Email via Alisterrecovery@gmail com
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Aug-2023
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