The Malaysia Securities Commission (SC) has added one of the leading crypto exchanges Binance to its list of unauthorized websites, investment, companies, and individuals. The Malaysian regulator stated that the crypto exchange is “operating a recognized market without authorization from the SC.” The Securities Commission also advised citizens not to make any investment with companies/individuals that are not licensed or approved by them. Earlier this month, Brazil announced that the crypto exchange had not obtained the necessary authorization to operate a digital currency derivatives exchange in the country.
Regulators continue to strengthen crypto regulations.
Countries worldwide continue to enforce crypto regulations to manage the growing industry. However, crypto regulations in most countries remain in a grey area. South Korea, Switzerland, and many other countries have enforced crypto regulations based on the FATF guidelines. Crypto regulations in the European countries have caused a few crypto companies to shut down. The 5th Anit-money laundering directive is being enforced in countries across Europe.
Brazil had ordered Binance to immediately suspend the broadcasting of any public offering of securities intermediation services, directly or indirectly, including through the use of internet pages, applications, or social networks.
Binance continues its global expansion.
Earlier, the crypto exchange announced that Binance Card is officially debuting in the European Economic Area or EEA countries. The EEA-based users will be able to apply for a Binance Card starting next month. The Binance collaborated with Swipe to launch the Binance crypto card. The CEO of the crypto exchange Changpeng Zhao had earlier demonstrated the card’s use for the first time. The company announced that Binance and Swipe would work together to further mainstream crypto adoption by bridging the gap between fiat and crypto, notably payments and purchases in cryptocurrency through traditional financial system.