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❕NEWS US CFTC probes Binance

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Josemendez

Josemendez

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According to news gathered from Bloomberg , US CFTC ( Commodity Futures Trading Commission ) are probing Binance for allowing US citizens to place wagers against US policies. Part of the reason is that Binance is not registered in US.
 
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I thought binance have a sperate website for the us citizen , like binance.us i an now surprise on how its not been registered i hope they resolves this
 
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Is only prob not accuse, I think we should wait and see the outcome of the prob before airing my opinion on that. Doing crypto business in US is not the same thing in doing crypto business in another country.
 
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Pcesc-JR said:
Hmm, I'm still confused about the US citizens using the main binance site, instead of their own being the binance.us site. We need this to be clarified asap, if the binance.us isn't bounded in the US.
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Based on the research i have made and what i have seen the binance.us is likely where the us citizens visit to trade , because you need kyc for registration
 
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Pcesc-JR said:
Okay, maybe its not owned by the US residence. That's why they are laying that fine' on the exchange platform, why allowing its residents in wagering such policies.
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They shouldn't do that because they are still getting more revenue by taxing those exchange sites , so that's a bit suprising for me i think ..The resident are enjoying the platform
 
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Niftyicon said:
I also thought there was Binance US, so, i guess that is the one being probed. Any way, it would be resolved provided no laws were broken and all regulations adhered to.
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We hope so and we hope that the investigation won't last long nor lead to something similar to what ripple is facing presently.
 
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Pcesc-JR said:
You're right. They are gaining from the multide of crypto exchange platform under their guidance. I didn't see any wrongdoing around BNB.us site for giving access to the U.S citizens to wager such its policies.
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I really dont see too, but some government are trying to make things hard for those crypto sites , i just hope everything is quickly resolved
 
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Pcesc-JR said:
You're right. They are gaining from the multide of crypto exchange platform under their guidance. I didn't see any wrongdoing around BNB.us site for giving access to the U.S citizens to wager such its policies.
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Secondly , I believe every exchange site has right to operate in whatever way they deem fit provided that it is not against the rules governing exchange sites
 
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Josemendez said:
We hope so and we hope that the investigation won't last long nor lead to something similar to what ripple is facing presently.
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I really hope it doesn't and I don't think the situations are any similar. Such could make people call out the authorities about witch hunting crypto companies and exchanges.
 
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Pcesc-JR said:
Maybe the US government have find where they breach one of the laws governing all crypto exchange sites
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No , the suit said that they allowed their US citizens to wager beyond their US policies . But Binance can claim ignorance if it happens to be true
 
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Pcesc-JR said:
That's true. Binance can defend themselves from such suit, by claiming ignarant of it, Laughs. Since they aren't from US either, they'll feel they know nothing about such.
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Yeah , secondly such laws should be made open to cryptocurrency exchange sites so that they won't be charged for breach of law un knowingly
 
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highspeed said:
Binance appears to have its headquarters in Malta and its CEO is a Chinese-Canadian citizen.
In my opinion, this is due to the usual purely adverse issues between the United States and China!
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Hmm . It might be part of it . Secondly Binance seems to be more popular than their US based coinbase site. This is the major challenge here.
 
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Josemendez said:
Hmm . It might be part of it . Secondly Binance seems to be more popular than their US based coinbase site. This is the major challenge here.
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Well, in my opinion, at least for now, it's not easy to keep up with Coinbase.
I have deoo now, but "tomorrow", nothing would be excluded.
 
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highspeed said:
Well, in my opinion, at least for now, it's not easy to keep up with Coinbase.
I have deoo now, but "tomorrow", nothing would be excluded.
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Yeah , especially for non US based citizens. Their offer and site is basically for their people . All thanks to Binance for coming into our rescue.
 
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They should sort things like this out , probing binance would be another issue again, if they want them to change their service they should find another mean to do that
 
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Josemendez said:
Yeah , especially for non US based citizens. Their offer and site is basically for their people . All thanks to Binance for coming into our rescue.
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If the situation with Coinbase is already difficult for US citizens, I believe that for those living outside that country, it will be even worse.
 
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Wagers against us that's truely astonishing I never heard about this and is a truely new thing to me I guess many surprise announcements yet to come to be honest .
 
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Binance should endeavour to register as a business in every country where it has huge subscribers because cryptocurrency is not longer a joke.
 
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