Binance is a digital asset exchange that facilitates trading of cryptocurrencies. The company was founded in 2017 and is headquartered in Malta.
Binance is the world’s largest cryptocurrency exchange with a daily trading volume of over $2 billion. The exchange has over 200 digital assets listed on it.
Binance is not regulated by any government or financial authority. The company is not required to obtain a license to operate in any jurisdiction.
However, Binance has adopted a self-regulatory approach and has implemented KYT (Know Your Transaction) and AML (Anti-Money Laundering) programs to combat illegal activity on the platform.
The lack of regulation surrounding cryptocurrency exchanges like Binance has been a source of concern for some investors. However, the company has taken steps to mitigate these concerns by implementing KYT and AML programs.
Overall, the lack of regulation surrounding Binance should not be a major concern for investors.