The giant cryptocurrency exchange Binance cannot escape being the target of regulators. Finally, Dubai Virtual Assets Regulatory Authority (VARA) has launched an investigation against the giant cryptocurrency exchange! Here are the details…
Leading cryptocurrency exchange Binance is facing another review!
cryptocoin.com As we have mentioned, the crypto money exchange Binance, which has faced many lawsuits and accusations recently, comes up with a new review. Dubai’s Virtual Assets Regulatory Authority (VARA) has asked Binance, one of the world’s largest cryptocurrency exchanges, to provide more information on its business requirements: ownership structure, governance practices and audit protocols. Regulatory activities, which have recently focused on Binance, draw attention.
On the other hand, Bloomberg, which draws attention with its news about the business world, applied to anonymous sources on the subject. Information from three anonymous sources in the comments worries many investors. Information from anonymous sources shows that on April 5, Dubai regulators requested that the giant cryptocurrency exchange provide more information on its structure, governance and audit processes. According to the sources, other global crypto investors seeking VARA licenses in Dubai have also made the same request. However, VARA officials also requested that Binance provide similar information at the global group level in addition to its board procedures. According to two of the anonymous sources, it seems like it will take quite a while to handle the queries given the size and complexity of the exchange.
On the other hand, the growing scrutiny of virtual asset service providers in Dubai is worrying many Binance users, with pressure from regulators in the United States already facing Binance. In particular, the shocking allegations and accusations made last week have also affected all cryptocurrency exchanges such as Binance. According to experts, with these pressures, the confidence of investors may be broken. This, in turn, could lead to a correction for the already burgeoning cryptocurrency market. The fact that Dubai regulators are demanding more information from Binance and other global crypto users seeking licenses in Dubai is also a factor in this regard.
The answer came from the giant cryptocurrency exchange!
Cryptocurrency exchange Binance, which has attracted attention with accusations and reviews in the cryptocurrency market in recent days, has responded to Dubai regulators. The response of the giant cryptocurrency exchange is as follows:
At cryptocurrency exchange Binance, we have disclosed all necessary responses to VARA on a proactive basis and in line with our regulatory and fiduciary responsibilities.
In addition, the company stated that it conveyed information about the ownership structure and external auditor of its local organization. As you know, the crypto exchange Binance, which does not have any central office, has the time to respond to all these reviews as a direct result of the complexity.
However, the lawsuits against the stock market in March draw attention. As you know, the US Commodity Futures Trading Commission has sued Binance CEO CZ and the stock market. The lawsuit alleges that the defendants violated regulations regarding derivatives and accused the company of using “fraudulent” compliance procedures. Alongside the lawsuit news, Binance’s native cryptocurrency, BNB, has dropped more than 1% in the past hour. Instantly, BNB changes hands at $311.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.