Binance gets banned by UK regulator

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kappakek said:
kappakek said:
It's hard to say at the moment we have to wait for further info but just incase i got my stuff out of binance
One thing is true, their AML is a joke. You can withdraw around 80k USD worth of crypto without any KYC a day and another blatant breach is although they say you can only withdraw fiat to a bank account in your name that's not the case at all. You can withdraw fiat to any account it doesn't have to be in your name lol.
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This is damning then of their KYC and AML 😕. Wise to move assets and not wait around to see what happens if you got other options.

Piano said:
Piano said:
Do you think Binance is going out of business ?
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Depends what US decides to do. They may work with foreign governments to seize their domain and servers like they did with 1broker.io etc in Marshall Islands.....lol.

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SEPA deposits disabled! Some users now getting proof of wealth declaration requests! The doors are closing, at this pace they will be CRS compliant by the start of the next year! Better clear your accounts lol
 
kappakek said:
kappakek said:
SEPA deposits disabled! Some users now getting proof of wealth declaration requests! The doors are closing, at this pace they will be CRS compliant by the start of the next year! Better clear your accounts lol
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Yeah the bad news keeps coming for Binance.

Pretty sad as Binance is worlds biggest crypto exchange and a quick look at coinmarketcap shows it has the most volume. If anything happens to it other regulated exchanges like coinbase etc will benefit. Maybe thats the goal of regulators to force clients off the exchange and on to exchanges they supervise ca#"!.

If your thinking of getting into crypto you may want Binance to collapse as it will bring down the entire crypto market and give you a large dip to buy into smi(&%.

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Martin Everson said:
Martin Everson said:
Maybe thats the goal of regulators to force clients off the exchange and on to exchanges they supervise ca#"!.
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Such a move would be beneficial for the crypto market. And yes, I suppose that this is the ultimate goal of relevant western governments.
They can not follow the example of China and other authoritarian regimes as they would then just be in the same category together with the former. Specifically the US does not want that.
So, a bumpy road ahead on the way to a much more regulated (and legitimate) crypto space which will ultimately solve the main issue: Transforming crypto wealth into fiat wealth.
Martin Everson said:
Martin Everson said:
you may want Binance to collapse as it will bring down the entire crypto market
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No, this train has left the station when China banned crypto. Moreover, a collapse of Binance in its current form is already anticipated.

Last edited: Jul 7, 2021
 
Why you are so serious?

Exchange got problem with their banking relationship? Pff. This going over all time for crypto with almost every exchange.

Exchange got problem with depositing via bank cards? Pff. This going over all time for crypto with almost every exchange.

Exchange got problem with AML or some goverment? Pff. This going over all time for crypto with almost every exchange.

Name me at least couple top tier crypto exchanges who was on market few years and don't have single problem. It non exist.

Most of all banks in the world are banned crypto in their capabilities.
I have account in number of banks and *ALL OF THEM* hate crypto, no matter what exchange will be used: binance, bistamp, coinbase, bitfinex, etc.
So, it's a binance such bad? I don't think so. If we ask banks - their answer will be all exchanges are smell 🙂

Binance introduce FIAT gateways are recently and it was massive and very big update.
If you look deeply on the number of FIAT gateways for different countries and different currencies, you would found that its literally dozens of times more that some kind of sepa/swift gateway only in exchange like bitstamp.
Sure it lead to some problems with AML, KYC and other stuff. Not a problem, some gateways will be closed.
They are pure reason for all this compliance problems.
Not a last people resort with them. It would rollback for a few months of crypto adoption, not more.

Why you not move your assets with your stock broker when it fined for millions because of AML? You closed your IBRK accounts? No 🙂
Why you not move your assets with your bank when it fined for billions because of AML/TF? You closed your A+ banks accounts? No 🙂

If you hold crypto - just hold in wallet.
If you trade crypto - don't start to say that binance bad, it literally much better than competitors. sure not ideal, but definitely top tier on crypto market.
And 100% better that exchanges which claim to be regulated by SWISS/LUX/EU/and other country and have absolutely 0 liquidity for market (hello for people who will switch to trade crypto from binance to kitchen like a swissquote, dukascopy, etoro, exante and other regulated BS 🙂
 
Bagpacker said:
Bagpacker said:
Such a move would be beneficial for the crypto market. And yes, I suppose that this is the ultimate goal of relevant western governments.
They can not follow the example of China and other authoritarian regimes as they would then just be in the same category together with the former. Specifically the US does not want that.
So, a bumpy road ahead on the way to a much more regulated (and legitimate) crypto space which will ultimately solve the main issue: Transforming crypto wealth into fiat wealth.

No, this train has left the station when China banned crypto. Moreover, a collapse of Binance in its current form is already anticipated.
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That dude from coinbase might did a good job lobbying some of the us entities to go after binance. That is not entirely out of the question 😉

Fiat wealth (or whats left thereof) will be in the form of cbdc's according to that dude here: For Investors, Business Owners, Professionals... "How to Avoid Missing Out On the Crypto Bull Market (and Make a Killing), Without Buying a Single Bitcoin, Ethereum, Litecoin, Or Investing in Any Other Cryptocurrency... You're Invited to join the WORLD'S FIRST (and ONLY) Crypto-Stock Newsletter and Advisory... (the newsletter is not mine 😉)

And yet, as we speak, I am doing calls with an african countries interesting in following el salvador, so these are surely pretty interesting times indeed.
 
JackAlabama said:
JackAlabama said:
That dude from coinbase might did a good job lobbying some of the us entities to go after binance. That is not entirely out of the question 😉
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I actually wouldn't be surprised. US shale gas producers tried to so same with Nord Stream 2 😉. If you can't compete then ask your gov for help to eliminate competition...lol.

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1627718100852.webp



at what stage we are now?😀
 
John Spectre said:
John Spectre said:
Are binance allow stock trading? NO
Are binance registered at Thai? NO
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Depends on laws. In case of binance they register so many crap ponzies who payed for entry.
Many of those tokens are securities companies try to brand them as good investments and give best returns.
If some Thai-people were burned on PnD they went cry to local SEC because someone sold them unregistered securities and they want refund.
That was not their foult that investment has failed... no NEVER... it is Binance foult.
Since USA have some enforcement power over world financial markets, they pressure all ICOs (ponzies or not) close door to US investors.
But some small countries can do s**t about it like Thai/CaimanIslands maybe those laws are in place in form like US if you have X nation investor as client you should enforce our rules bla bla...
But what they can do in reality - just CZ has less place to be able travel, or fly over some place if he don't want fall to prison.

Cz is guy on target for his best moves in space like his 2BTC limit was outstanding and forced exchanges like coinbase/kraken to corner.
What is worth noting that Binance was best mixer ever you throw there 2BTC buy Tether buy 1.99 BTC and you have clean BTC used on random mail,
same time people around was overthink with samurai wallet, coin-join...
I will miss old Binance will see what will replace it - there is high demand for no KYC , i see defi in rise.

PS: (Bielorus just lately forced landing airplane with some opposition guy to put him in jail they faked terrorist attack and forced to land)

azb1 said:
azb1 said:
Not your key not your coin.
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Yea but that sadly not working when you have to pay taxes XD
 
It is how a true stand-alone, purpose-built cryptocurrency exchange operates worldwide without selling its clients. It's sad to see their clients leaving off all sorts of negative reviews all over the web without even acknowledging the challenges Binance is facing from dirty authorities.
Soon the time will change completely 🙂

Last edited: Sep 22, 2021
 
Martin Everson said:
Martin Everson said:
Like just insider trading, front running and market manipulation is all Binance has been up to ca#"!.

https://www.pymnts.com/news/securit...idens-to-include-alleged-market-manipulation/
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You guys say just what you hear, no more than this.

Are you a trader? Do you have any solid proof?

Nowadays, it is a time where you shouldn't believe or judge anything unless you see it with your naked eyes. There are tons of haters, corrupt and dirty authorities who misguide you with their non-sense only to benefit themselves.
What the US says, what the UK says about whom... these are the types of bulls**t you shouldn't believe at all.

I'm a professional leverage day trader and have engaged in Binance since 2019. I haven't experienced such a thing. And then someone comes with a link and talks non-sense. Heh

If you want to waste your time, play games, please.

Last edited: Sep 24, 2021
 
itsanaullah said:
itsanaullah said:
You guys say just what you hear, no more than this.

Are you a trader? Do you have any solid proof?

Nowadays, it is a time where you shouldn't believe or judge anything unless you see it with your naked eyes. There are tons of haters, corrupt and dirty authorities who misguide you with their non-sense only to benefit themselves.
What the US says, what the UK says about whom... these are the types of bulls**t you shouldn't believe at all.

I'm a professional leverage day trader and have engaged in Binance since 2019. I haven't experienced such a thing. And then someone comes with a link and talks non-sense. Heh

If you want to waste your time, play games, please.
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Its known that binance does dirty games and their system breaks when there is high volume.
I lost a lot in may when the market moved massivly down because my sell order was not being executed by binance.
 
itsanaullah said:
itsanaullah said:
What the US says, what the UK says about whom... these are the types of bulls**t you shouldn't believe at all.
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My friend from Pakistan criticism is ok but please do not swear thu&¤#. I have just given you a warning regarding language. I see also you do not know too much about Binance. However if your happy using them then ignorance is bliss for you. Major authorities that have shown concern have got them all wrong I guess 🙄.

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