Israel Capital Markets Authoritycontinues Binance’s process of reviewing its licenses. As the authority continues its investigations, Binance has announced that it has ceased operations in Israel.
Analysts Expect Binance Coin’s Downtrend to Continue
The Capital Markets Authority in Israel acts as the regulatory authority in charge of stock market licensing in the country. Regulator, BinanceHe asked .
Binance, which was not late to respond to the regulator’s reviews, announced that it has stopped all trading activities. Binance has also faced higher regulatory scrutiny, such as the US Securities and Exchange Commission (SEC) investigation.
The exchange faced a tough challenge with regulators in the US and UK in 2021. The exchange removed support for Hebrew (local language) and currency shekels to comply with regulations.
Similar to previous examples, Binance has proactively responded to regulatory concerns in the past.
analysts, Binance Coin They evaluated the price trend and stated that the token is likely to continue its uptrend if it exits the $430-440 region.
However, the local token of the exchange could not leave the region and started a downtrend. @WalterCripto, an analyst and trader, thinks that Binance Coin’s downtrend may extend depending on the token’s price trend analysis.
FXStreet analysts, on the other hand, have an opposing view on this issue, as the Binance price jumps to a significant level, the thought that it can break to $ 555 is stronger among analysts.
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