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Regulators in Florida and Alaska have told Binance US that it can no longer serve its residents, according to reporting from the Wall Street Journal (WSJ). Binance US , the state-side arm of crypto exchange Binance, was reportedly denied a license renewal by the Alaska Division of Banking and Securities. Similarly, Florida ’s Office of Financial Regulation sent an emergency suspension order against Binance US ’ money transmitter license. The latter is said to have come just a week after Binance and its former chief Changpeng Zhao (CZ) reached a plea deal agreement for violating US anti-money laundering rules at the end of November. Speaking to the WSJ, a spokesperson for Binance US said that the firm was “in active dialogue with state officials.” However, she declined to comment on whether the crypto exchange would appeal the decisions by Alaska and Florida. Binance and CZ plead guilty but SEC lawsuit remains Read more: Did Binance ex-chief CZ really ...

“Operations would quickly grind to a halt” Without the ability to pay employees, vendors, suppliers and professionals or to maintain the trading platform, the operations will quickly grind to a halt, Binance .US attorneys said Monday in a court filing. “With a freeze of all corporate assets, banking partners would most likely cease to honor requests to transfer funds for any purpose, including customer redemptions,” the exchange added. The SEC had requested the federal court to seize assets of  Binance .US, after it sued Binance entities and founder Changpeng Zhao last week, alleging “blatant disregard of US securities laws” and “years of violative conduct” that puts customer funds at risk. Binance assures US customer assets are safe Binance .US attorneys further argued in their court filing that US customer assets are safe and said “there is no need for the draconian relief sought by the SEC.” As reported earlier, the US SEC had filed an emergency action application for a tempo...

Binance In Big Trouble? John Read Stark, ex-head of SEC’s office of internet enforcement hinted that the U.S. DOJ will fill or has already filed under seal, a Binance linked criminal indictment. He mentioned that both CFTC and SEC complaints read more like criminal indictments to him. However, the complaint also alleges the crypto exchange of fraud, deception of law, and money laundering. As per the U.S. CFTC complaint, Binance ’s CEO Changpeng Zhao and three of its executives that operated the crypto exchange allegedly violated the agency’s statutes and regulations. It is important to note that the CFTC charged Binance ’s former Chief compliance officer, Samuel Lim for assisting and abetting the exchange’s violations. Read More Binance News Here Stark highlighted that the CFTC presented evidence that the former COO was aware of the situation that Binance customers were there for the crime. The watchdog further alleged that the defendants assisted US VIP users to evade Binance ’...