[ccpw id="39382"]

HomeCrypto NewsExchangesItaly Becomes The 7th Country To Issue A Regulatory Alert Against Binance

Italy Becomes The 7th Country To Issue A Regulatory Alert Against Binance

Date:

Written By:

According to the market watchdog of Italy, Binance cannot operate in Italy. This is part of a string of global regulations against top cryptocurrency exchange.


- Advertisement -

Italy is now part of the simultaneous global crackdown on the cryptocurrency exchange Binance. In recent weeks, Binance has been on the radar of Canada, Japan and the United Kingdom as well as Thailand, Poland, and most recently Malta.

Binance is the most popular cryptocurrency exchange by trading volume, website visitors and customer base. It provides crypto services to millions worldwide. It is however being hampered by seven regulatory warnings from seven countries.

The FSA of Japan was the first to issue a compliance notice against the world’s largest exchange. It was followed by Canada, Singapore, Thailand, the United Kingdom and Canada. UK FCA has advised investors and companies not to use Binance because it is illegal in the country. The Thai SEC opened a contempt case against Binance for operating without a license.



Binance’s regulatory crackdown comes at an important time as cryptocurrency popularity has grown and regulators have become more urgent to crack down on crypto related business. Regulations Compatible crypto exchanges joined the party after their slow start. With regulatory approval, Binance’s rival Coinbase opened new markets in Japan and Germany, while FTX became the third-largest spot exchange.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

-Advertisement-

Author

Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

More from Author

Latest Stories

Guides