The latest report from Wall Street Journal on Sunday, March 5, shows that Binance once devised a plan to avoid any regulatory scrutiny in the United States.

Amid the major fallout of several firms in the crypto space last year, the U.S. Securities and Exchange Commission (SEC) has increased its scrutiny in the crypto space. The latest report from Wall Street Journal on Sunday, March 5, shows that the world’s largest crypto exchange Binance once devised a plan to avoid any regulatory scrutiny in the United States. This was way back in 2019 when Binance started its operations in the country. The WSJ report states that any lawsuit from the U.S. regulators, who had signalled a crackdown on unregulated offshore crypto players, might have served as a “nuclear fallout” for Binance’s business and its officers. The WSJ report cites warnings initiated by Binance executives to their employees in a private chat back in 2019. (coingape)

Wall Street Journal says Binance built its Binance.US platform to appear wholly independent of Binance.com, in an attempt to shield itself from US regulators

From 2018 to 2021, Gary Gensler was approached by several private companies, including Binance, to act as an advisor, which he turned down.

Ukraine temporarily suspended the use of its national currency, the hryvnia, via banking cards for fiat deposits and withdrawals on crypto exchanges. While the move immediately impacted how investors move funds to and fro exchanges, Binance reminded users about how P2P services come in handy when trading cryptocurrencies.

Adam Cochran believes the SEC suggesting Binance is an unregistered securities exchange on the grounds BUSD is unregistered security is “brutal 4D chess.” He further speculated that Binance has two options – to settle or be open to discovery by a US agency. The former scenario will set a “soft precedent” for the SEC to bully other crypto exchanges in the country.

Crypto exchange Binance sought to hire Gary Gensler as an advisor before he became chairman of the United States Securities and Exchange Commission (SEC), according to a Wall Street Journal report based on messages and documents from 2018 and 2020, as well as interviews with former employees. 

The world’s largest crypto exchange, Binance, and a leading Ukrainian exchange, Kuna, have announced temporary suspensions of operations with bank cards in Ukrainian hryvnia. Both trading platforms confirmed about the problems with such transactions.

In a Mar. 4 tweet, CZ addressed the false speculations that circulated on the Chinese messaging platform WeChat, claiming that he was shot by The Federal Bureau of Investigation (FBI), taking the opportunity to reiterate the close working relationship that exists between his team and the FBI.

On February 13, Paxos Trust, the stablecoin’s operator, announced that it would stop minting the Binance-branded stablecoin BUSD. The move followed more news that the SEC intended to sue Paxos for violating investor protection laws.