Binance, the world’s largest cryptocurrency exchange by trading volume, is illegal. The company is not licensed to operate in the United States or any other country.
The company’s CEO, Changpeng Zhao, has a history of fraud and deception. He was involved in a pump-and-dump scheme in China and was sued for illegally selling tokens in the U.
NOTE: WARNING: Binance is an unregulated cryptocurrency exchange, which is illegal in many countries. Investing in cryptocurrencies through Binance is considered to be extremely risky and you should only do so if you are fully aware of the associated risks. It is important to understand that Binance may not be compliant with local laws in your country and therefore, you should exercise caution when using the service.
Binance is not registered with any financial regulator. The company does not disclose its financials or customer data.
The company’s operations are opaque and it has been accused of wash trading and other unethical practices.
Binance is a risk to investors and should be avoided. The company is not regulated and its CEO has a history of fraud.
3 Related Question Answers Found
If you are a Binance user, you may have noticed that your account has been banned. This is because Binance has recently implemented a new policy that bans accounts that are inactive for more than two years. While this may seem like a harsh policy, it is actually in line with other exchanges who have similar policies.
Binance, the world’s largest cryptocurrency exchange by trading volume, has recently come under fire for rejecting withdrawals from its users. The issue came to light after a number of users took to social media to complain about their withdrawals being rejected by the exchange. The main reason for the rejection of withdrawals appears to be due to Binance’s new Know Your Customer (KYC) policy, which requires users to submit identification documents in order to withdraw funds from the exchange.
Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended withdrawals of cryptocurrencies. The move comes after the exchange experienced a “large scale security breach” in which hackers stole 7,000 bitcoin (worth $40 million at the time). In a statement, Binance said it had discovered the hack on Tuesday and that the hackers had used a variety of techniques, including phishing, viruses and other attacks.
