FAQs
Binance CEO Changpeng Zhao said the company is “not shunned elsewhere” and that there's “more to come.” Cryptocurrency exchange Binance has obtained a provisional green light from Abu Dhabi regulators, deepening its expansion in the Middle East.
What is the latest country that Binance got approval to operate in? ›
El Salvador Becomes the Latest Country Where Binance Secures Regulatory Approval. The authorization will allow Binance to provide crypto products and services “tailored” to the needs of Salvadoran customers.
Which US regulator charges crypto giant Binance with illegal trading statement? ›
US regulators on Monday (June 5) charged cryptocurrency giant Binance with violating securities laws which collectively amounted to what the regulators called "an extensive web of deception" and "calculated evasion of the law." The Securities and Exchange Commission (SEC), which filed a complaint in a federal court in ...
Who is the founder and CEO of Binance the world's largest cryptocurrency exchange? ›
Binance founder and CEO Changpeng Zhao poses during an interview at the technology startups and innovation fair in Paris on May 16, 2022. CZ and Binance are being sued by the SEC, in a legal battle that could help determine whether cryptocurrencies should adhere to market regulations.
Is Binance legal in UAE? ›
Already a subscriber? Binance FZE, the name of the exchange's Dubai subsidiary, had previously received a provisional license from Dubai's Virtual Asset Regulatory Authority in March 2022.
Can US residents still use Binance? ›
Yes, U.S. residents can open a Binance account. However, it's recommended that U.S. residents use the Binance.US platform instead to comply with U.S. regulations and sidestep potential repercussions such as account restrictions, temporary suspension, or even termination.
Why is Binance restricted in usa? ›
The SEC alleged that the parent company of Binance.US was set up by Binance and Zhao to “knowingly circumvent US law while secretly controlling the Binance.US platform's operations for their benefit”, according to a brief filed by the regulator.
What is the legal action against Binance? ›
The U.S. Securities and Exchange Commission sued Binance and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a "web of deception" to evade U.S. laws, among other charges.
Is Binance and its CEO at risk of criminal charges over money laundering rules report? ›
Federal regulators accused Binance, the world's largest crypto exchange, and its chief executive of violating securities laws and making false statements to investors, the latest volley in Washington's crackdown on the cryptocurrency industry and its biggest players.
Who is the regulator of Binance in the US? ›
The Securities and Exchange Commission, Wall Street's primary regulator, alleges the company acted in “blatant disregard” of US securities laws. It also named Binance's CEO Changpeng Zhao, known as CZ, as a defendant.
The three richest on the list–Changpeng Zhao and Brian Armstrong all helm cryptocurrency exchanges.
- Changpeng Zhao. Net worth: $65 billion. Source of wealth: Binance. ...
- Brian Armstrong. Net worth: $6.6 billion. ...
- Chris Larsen. Net worth: $4.3 billion. ...
- Cameron Winklevoss and Tyler Winklevoss. Net worth: $4 billion each. ...
- Jed McCaleb.
Changpeng Zhao
In 2017 he founded Binance; by 2018, he was a billionaire, and his wealth has since grown to over $10 billion. CZ's wealth is very closely linked to the crypto market, which is reflected by the fact that he was worth over $60 billion before the bear market.
Who are the biggest owners of Binance? ›
Changpeng Zhao (Chinese: 赵长鹏; pinyin: Zhào Chángpéng), commonly known as CZ, is a Chinese-born Canadian businessman, investor, and software engineer. Zhao is the co-founder and CEO of Binance, the world's largest cryptocurrency exchange by trading volume as of July 2022.
Is crypto allowed in Abu Dhabi? ›
Yes, cryptocurrency is allowed in the United Arab Emirates (UAE). The UAE government has taken a proactive approach towards cryptocurrency and blockchain technology, creating a supportive regulatory environment for the growth of the digital assets market.
Is Bitcoin halal in Islam? ›
What do Islamic scholars say about crypto? Many Islamic scholars seem to agree that, as it stands, cryptocurrency is haram, and should be avoided by Muslims. Indonesia, the world's largest Muslim-majority country, has banned cryptocurrency trading.
Is Binance illegal in Dubai? ›
In March, the exchange was also granted a Virtual Asset License in Dubai that allowed it to "extend limited exchange products and services" to qualified investors. The exchange has been aggressively pursuing regulatory approval in the Middle East, with a special focus in the Unites Arab Emirates.
Which countries are eligible in Binance? ›
Here is a detailed summary of the supported countries and regions on Binance:
- Africa: Nigeria & South Africa.
- America: Argentina, Brazil, Chile, Colombia, Mexico & Peru.
- Asia: Afghanistan, Bangladesh, Cambodia, India, Indonesia, Japan, Kazakhstan, Mongolia, Myanmar, Pakistan, Philippines, Taiwan & Vietnam.
Binance Supported Countries
- Africa - Nigeria & South Africa.
- Americas - Canada, Argentina, Brazil, Chile, Colombia, Mexico & Peru.
- Asia & Pacific - Afghanistan, Australia, Bangladesh, Cambodia, India, Indonesia, Japan, Kazakhstan, Mongolia, Myanmar, New Zealand, Pakistan, Philippines, Taiwan & Vietnam.
So, can you use the original Binance in the US? Yes, if you're using a VPN, you can set up and register for an account. Just keep in mind that American citizens are not allowed to use the crypto exchange. If you want to set up a Binance account, you must first verify your identity.
Is Binance blocked in the US? ›
Just days after the Securities and Exchange Commission sued it, the American arm of Binance, the giant cryptocurrency exchange, announced some painful news: It will no longer allow customers to trade on its platform using U.S. dollars.
