Wall Street Journal: Alaska and Florida regulators have banned Binance’s U.S. subsidiary Binance.US from operating
The regulatory authorities in Alaska and Florida have banned Binance.US, a subsidiary of Binance, from conducting business. After Binance founder Zhao Changpeng admitted to violating US anti-money laundering regulations, regulatory authorities in Alaska and Florida deemed him unsuitable to supervise the company's operations, as he holds 80% of Binance.US's shares. Previously, Florida had suspended Binance.US's currency transfer license, while Alaska's banking and securities department refused to renew Binance.US's license in January 2024.
Binance.US hires Lesley O'Neill as new chief compliance officer
Binance.US has hired former Prove Identity employee Lesley O'Neill as its new Chief Compliance Officer. Prove Identity is a digital identity verification platform that serves banks, financial services companies, and e-commerce merchants. O'Neill will lead the company's compliance efforts, including KYC, AML, and sanctions programs. Former Binance.US compliance chief Tammy Weinrib left the company in November.
Binance and Binance.US argue SEC did not meet "Howey Test" requirements in latest filing
Binance, Binance.US, and Changpeng Zhao have filed a reply to the SEC's lawsuit, arguing that the regulator did not meet the requirements of the "Howey Test." The filing states that the SEC did not show that the exchanges' U.S. customers had any contracts that would meet the definition of an "investment contract." Binance also pushed back against the SEC's adding the exchange's guilty plea with the DOJ and consent order with FinCEN, or Zhao's own DOJ plea, in the ongoing case. The filing argues that securities laws wouldn't apply the same way the Bank Secrecy Act or International Emergency Economic Powers Act did.
Binance and Binance.US have spent more than $1 million on lobbying this year
OpenSecrets cited data from the US Federal Election Commission, showing that in the past two years, Binance has significantly expanded its lobbying investments, with lobbying expenditures for Binance and Binance.US exceeding $1 million in 2023.
Binance.US: CZ resigns as chairman
Binance.US stated that CZ resigned as chairman and transferred his voting rights through proxies.
WSJ: SEC Still Seeking More Evidence of Binance.US Fraud
According to the US Securities and Exchange Commission (SEC), they are still looking for evidence to determine whether Binance and its founder CZ have a backdoor to control assets stored on the Binance.US platform.
Binance US transfers 1,105 BTC out to cold wallet
According to data tracking service Whale Alert, Binance US transferred 1,105 BTC worth approximately $38,199,041 to a cold wallet address starting with "1NASoG" at around 8:06 AM Beijing time.
Binance.US is about to launch SUI trading
Binance.US has announced that it will soon list SUI for trading. Deposits for SUI are now available, and trading for the SUI/USDT pair will begin at 02:00 (PDT) on October 25th.
Binance.US stops USD withdrawals, withdrawals need to be converted to stablecoins or other digital assets
Binance.US has updated its terms of use, and users can no longer withdraw US dollars directly from the platform. An email states that if customers wish to withdraw US dollar funds from their account, they can do so by converting the funds into stablecoins or other digital assets and then withdrawing them.
Binance.US Updates Crypto Listing Process, Considers Launching Trading Support for Sui Network Token
Binance.US is introducing a new process for listing crypto assets, which will involve giving traders advance notice when it is considering adding trading support for a new token. The exchange says this is to provide additional transparency to its listing process. The first asset being evaluated under this new process is the native token of the recently launched Sui Network, which aims to rival Aptos and uses the same coding language as Meta's digital asset. Binance.US notes that support for SUI is pending review and the token may soon be listed on its platform. Coinbase listed SUI under its "Experimental Label" in May.
