​​Another regulator cracking down on Binance

Thu 15 Jul 2021 ▪ 19h45 ▪ 2 min de lecture - par Felix Meyer

The odds have been heavily stacked against Binance in recent weeks. Financial regulators of various countries have taken up arms against the world’s largest crypto exchange. Today, Italy has also joined the confrontation.

One more to go

Italian financial regulator, The National Commission for Companies and the Stock Exchange (CONSOB), went up against the crypto exchange by declaring that Binance Group won’t have the right to provide investment services within the country anymore, including those delivered through the official website and its sections linked to digital assets, such as Derivatives and Stock Token.

Italy is not the first country to openly condemn Binance. Earlier, Malta, Canada, Japan, the UK, the Cayman Islands, Poland and Thailand issued similar warnings to the company.

Moreover, Binance is now reportedly facing a class action from an Italian law firm, which represents the interests of dissatisfied futures traders.

Watchdogs all over the world keep scrutinising Binance and banning its activity within their jurisdictions one by one. There is every indication that things won’t die down any time soon.

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Felix Meyer

Le trading et l'analyse technique sont mes spécialités depuis 4 ans. Je décortique le marché et vous partage mon expertise.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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