Binance is vigorously contesting a nearly $86 million tax penalty imposed by India’s Directorate General of Goods and Services Tax Intelligence (DGGI). The penalty relates to fees Binance allegedly collected from Indian traders between July 2017 and March 2024. A Binance spokesperson confirmed their cooperation with Indian authorities, stating, “We are currently reviewing the details...
Binance, a leading cryptocurrency exchange, has announced the delisting of trade pairs involving the stablecoin backed by the Indonesian Rupiah (BIDR). This change will impact trading pairs for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) across various services offered by the exchange. The exchange has outlined a detailed action plan with specific deadlines for the...
Binance has successfully acquired the comprehensive Virtual Asset Services Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), marking a significant expansion of its operations within Dubai’s financial market. This milestone follows the Operational MVP license obtained in July 2023, which initially allowed Binance FZE to offer limited services to institutional and qualified investors...
CommEX, the cryptocurrency exchange that acquired Binance’s operations in Russia last year, has announced its decision to shut down its website by May 10. This announcement was made through a blog post on Monday, where the exchange outlined its phased closure process. Effective immediately, CommEX has stopped registering new users and has ceased asset transfers...
In a significant move by Nigerian authorities, two senior executives from the global cryptocurrency exchange Binance have been detained in Nigeria. This action comes as part of a broader crackdown on cryptocurrency trading platforms, following the country’s efforts to control speculation on its currency, the naira. The detentions occurred after the executives traveled to Nigeria...
Binance, the world’s largest cryptocurrency exchange, has agreed to a plea deal involving over $4 billion with the U.S. government. This settlement concludes a protracted criminal investigation, with CEO Changpeng Zhao pleading guilty to several charges. Details of the Plea Agreement In the settlement reached with federal prosecutors, Changpeng Zhao will plead guilty to violating...
The U.S. arm of cryptocurrency exchange Binance said it will remove digital asset tokens TRON and Spell from its trading platform, sending the prices of both down sharply on Wednesday. Binance.US said the move was the result of a periodic review and that factors it regularly considers can include trading volume and liquidity, changes in...
Binance’s Australian derivatives license was canceled at the crypto exchange’s own request, the Australian Securities & Investments Commission said Thursday, after the regulator had begun a “targeted review of Binance” in February. Beginning April 14, Binance’s derivatives clients in Australia will not be able to open or increase their existing trading positions. By April 21,...
Crypto exchange Binance will add six trading pairs with the stablecoin TrueUSD (TUSD). According to the announcement of the exchange, new pairs will be added to the site on March 29. Binance will open trading for TUSD with Lido DAO, Polygon (MATIC), Optimism (OP), Solana (SOL), SSV Network (SSV) and Ripple (XRP) cryptocurrencies. Market Makers...
Crypto exchange Binance announced the creation of a new blockchain hub in Georgia, calling this country one of the most innovative in the region, and expressed its readiness to actively participate in the development of its crypto industry. As part of the project, Binance hopes to attract more specialists to the blockchain sector, promote educational...
