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One of the most popular crypto exchange Binance has been once again engaged in a legal battle with the Securities and Exchange Commission. They are being accused of running an illegal exchange and this looks to be a major lawsuit.
The impact on the market is not surprising as many of the cryptocurrencies are currently down but CRP is not as at the time of making this post. What do you think will be outcome of the suit?
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<p>One of the most popular crypto exchange Binance has been once again engaged in a legal battle with the Securities and Exchange Commission. They are being accused of running an illegal exchange and this looks to be a major lawsuit.</p><p>The impact on the market is not surprising as many of the cryptocurrencies are currently down but CRP is not as at the time of making this post. What do you think will be outcome of the suit?</p>
If anything bad should happen to finance then the downfall of cryptocurrency as a whole is near. Because people's belief in cryptocurrency is reducing daily and the only hope or where the majority of hope is coming from is being accused of scam, that's ridiculous honestly.
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Well this news is no surprised to me, binance has always giving itself out to the centralized system and it won't be surprising seeing it get all caught up in all that
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I have always advice people against binance or other centralized exchange like binance, it's not enough reason that it's popular to use it and not just that to be blindly confident in it.
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I have always advice people against binance or other centralized exchange like binance, it's not enough reason that it's popular to use it and not just that to be blindly confident in it.
In a situation like this we should ask one question. First, who are those who are going to benefits from this crisis, Once you are services goes in connect with several organization then things like this can actually occur.
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If anything bad should happen to finance then the downfall of cryptocurrency as a whole is near. Because people's belief in cryptocurrency is reducing daily and the only hope or where the majority of hope is coming from is being accused of scam, that's ridiculous honestly.
There has been many crypto exchange crashes in the past, from MTGox to FTX and none of this signalled the downfall of the crypto industry.
Binance is not collapsing, but even if it were to, the crypto market would recover from it.
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I have always advice people against binance or other centralized exchange like binance, it's not enough reason that it's popular to use it and not just that to be blindly confident in it.
Yes centralized exchanges should be avoided at all cost because your funds can be stolen or hacked or your funds can be freezed at anytime.
It is best to go for a decentralized option.
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Money flowing through centralised exchanges isn’t fully visible to the public. Sometimes, even when withdrawing, users will not receive their transaction hash until after receiving their transfer.
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For those looking for an alternative to centralised exchanges, and traders wanting to dive deeper into the DeFi ecosystem, decentralised exchanges are the best place to start.
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Decentralised exchanges run as smart contracts on public blockchains like Ethereum or Solana. The first iterations of decentralised exchanges were based on orderbooks and the idea of facilitating trades between peers.
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Binance has expressed their confidence to prove their innocence in court and we can only hope that happens.
I do not fancy centralized exchange but it would be bad for crypto if another crypto exchange gets taken down especially if it is done wrongly.
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Binance has expressed their confidence to prove their innocence in court and we can only hope that happens.
I do not fancy centralized exchange but it would be bad for crypto if another crypto exchange gets taken down especially if it is done wrongly.
Binance can't go down like that because crypto currency is a world wide investment and secured platform used by the masses and the government itself.
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This type of story is actually meant to help newbies understand that the cryptocurrency space is not one you should be lackluster about lots of things are going on here and you need to be very secured.
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<p>Binance has expressed their confidence to prove their innocence in court and we can only hope that happens.</p><p>I do not fancy centralized exchange but it would be bad for crypto if another crypto exchange gets taken down especially if it is done wrongly.</p>
A lot will go wrong mate. As the little hope people have in cryptocurrency will be gone for good. Please I am not supporting the idea that Binance is a scam or whatever but yiu can never be too sure
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<p>This type of story is actually meant to help newbies understand that the cryptocurrency space is not one you should be lackluster about lots of things are going on here and you need to be very secured.
True, and it is also suppose to teach them to avoid storing their funds on centralized exchanges but it seems they never get to learn.
You should be your own bank with crypto.
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Lanistergame2;12493 wrote:Binance has expressed their confidence to prove their innocence in court and we can only hope that happens.
I do not fancy centralized exchange but it would be bad for crypto if another crypto exchange gets taken down especially if it is done wrongly.
Binance can't go down like that because crypto currency is a worldwide investment and secured platform used by the masses and the government itself.
Yes, cryptocurrency space is a worldwide investment but Binance is not cryptocurrency space it's an exchange in the cryptocurrency space. Meanwhile, I don't expect it to go down either and there's news going around now that Gary Gensler applied to be the exchange advisor in 2019 but was not accepted before he before the US Sec chairman could be the reason he target the exchange Now
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Meanwhile, I don't expect it to go down either and there's news going around now that Gary Gensler applied to be the exchange advisor in 2019 but was not accepted before he before the US Sec chairman could be the reason he target the exchange Now
It is possible that the suit on Binance and Coinbase are witch hunts to weaken both exchanges and make them heavily compliant with government regulations more than they already are. This might not be correct, the next couple of days would expose more.
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Binance can't go down like that because crypto currency is a world wide investment and secured platform used by the masses and the government itself.
Similar top exchanges like Binance have been seized in the past. And also Binance doesn't represent the entire cryptocurrency, it's just a very popular exchange and others would come out to replace it.
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IyaJJJ;12673 wrote:Meanwhile, I don't expect it to go down either and there's news going around now that Gary Gensler applied to be the exchange advisor in 2019 but was not accepted before he before the US Sec chairman could be the reason he target the exchange Now
It is possible that the suit on Binance and Coinbase are witch hunts to weaken both exchanges and make them heavily compliant with government regulations more than they already are. This might not be correct, the next couple of days would expose more.
The lawsuit provided by the US SEC against the Binance exchange will not hurt the price of Crytoin coin it will only cause some dump in price to the whole cryptocurrency market.
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Lanistergame2;12684 wrote:IyaJJJ;12673 wrote:Meanwhile, I don't expect it to go down either and there's news going around now that Gary Gensler applied to be the exchange advisor in 2019 but was not accepted before he before the US Sec chairman could be the reason he target the exchange Now
It is possible that the suit on Binance and Coinbase are witch hunts to weaken both exchanges and make them heavily compliant with government regulations more than they already are. This might not be correct, the next couple of days would expose more.
The lawsuit provided by the US SEC against the Binance exchange will not hurt the price of Crytoin coin it will only cause some dump in price to the whole cryptocurrency market.
In late 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance, one of the world's largest cryptocurrency exchanges. The lawsuit alleges that Binance failed to register with the SEC before offering US customers the ability to buy and sell cryptocurrency.
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oba;12964 wrote:Lanistergame2;12684 wrote:It is possible that the suit on Binance and Coinbase are witch hunts to weaken both exchanges and make them heavily compliant with government regulations more than they already are. This might not be correct, the next couple of days would expose more.
The lawsuit provided by the US SEC against the Binance exchange will not hurt the price of Crytoin coin it will only cause some dump in price to the whole cryptocurrency market.
In late 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance, one of the world's largest cryptocurrency exchanges. The lawsuit alleges that Binance failed to register with the SEC before offering US customers the ability to buy and sell cryptocurrency.
We could see the same thing happening since Binance is not incorporated in the United States and the only exchange incorporated in the US is Binance.us but the SEC claims that the exchange allowed US residents to conduct transactions on the platform in the year 2020
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level;12966 wrote:oba;12964 wrote:The lawsuit provided by the US SEC against the Binance exchange will not hurt the price of Crytoin coin it will only cause some dump in price to the whole cryptocurrency market.
In late 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance, one of the world's largest cryptocurrency exchanges. The lawsuit alleges that Binance failed to register with the SEC before offering US customers the ability to buy and sell cryptocurrency.
We could see the same thing happening since Binance is not incorporated in the United States and the only exchange incorporated in the US is Binance.us but the SEC claims that the exchange allowed US residents to conduct transactions on the platform in the year 2020
Which put them in violation of US securities laws. The SEC is seeking undetermined fines and penalties against Binance as well as a declaration of disgorgement by Binance which means that it should hand over all money earned from U.S. customers.
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Vastextension;12967 wrote:level;12966 wrote:In late 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance, one of the world's largest cryptocurrency exchanges. The lawsuit alleges that Binance failed to register with the SEC before offering US customers the ability to buy and sell cryptocurrency.
We could see the same thing happening since Binance is not incorporated in the United States and the only exchange incorporated in the US is Binance.us but the SEC claims that the exchange allowed US residents to conduct transactions on the platform in the year 2020
Which put them in violation of US securities laws. The SEC is seeking undetermined fines and penalties against Binance as well as a declaration of disgorgement by Binance which means that it should hand over all money earned from U.S. customers.
Then the Binance lawsuit came as part of the broader U.S. government crackdown on the cryptocurrency industry.
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thrive;12968 wrote:Vastextension;12967 wrote:We could see the same thing happening since Binance is not incorporated in the United States and the only exchange incorporated in the US is Binance.us but the SEC claims that the exchange allowed US residents to conduct transactions on the platform in the year 2020
Which put them in violation of US securities laws. The SEC is seeking undetermined fines and penalties against Binance as well as a declaration of disgorgement by Binance which means that it should hand over all money earned from U.S. customers.
Then the Binance lawsuit came as part of the broader U.S. government crackdown on the cryptocurrency industry.
The SEC has been working to enforce securities laws and protect investors in the fast-growing and often unregulated cryptocurrency market, with the Binance lawsuit acting as a warning to other cryptocurrency exchanges facilitating US resident activity who have not properly registered with the SEC.
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oba;12969 wrote:thrive;12968 wrote:Which put them in violation of US securities laws. The SEC is seeking undetermined fines and penalties against Binance as well as a declaration of disgorgement by Binance which means that it should hand over all money earned from U.S. customers.
Then the Binance lawsuit came as part of the broader U.S. government crackdown on the cryptocurrency industry.
The SEC has been working to enforce securities laws and protect investors in the fast-growing and often unregulated cryptocurrency market, with the Binance lawsuit acting as a warning to other cryptocurrency exchanges facilitating US resident activity who have not properly registered with the SEC.
Binance denies any alleged wrongdoing and claims that they have been cooperating with the SEC throughout the investigation. Binance still plans to support U.S. customers, now its subsidiary, Binance.US has received all required licenses and approvals from the proper regulators.
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