July 6 (Reuters) - A string of executives have quit Binance, according to their tweets and media reports, the latest blow for the world's biggest crypto exchange as its battles a slate of legal and regulatory headaches.
The ETF filing has helped reverse negative sentiment in the bitcoin and broader cryptocurrency markets, after a series of crypto company meltdowns, including the sudden collapse late last year of exchange FTX, which authorities allege was running a multi-billion dollar fraud.
But it is also the latest sign of global firms alighting on Britain as the Government seeks to boost its tech credentials - offsetting some of the recent doom and gloom about London's status as a financial centre as firms up sticks for New York.
Last week, binance p2p (mouse click the up coming article) was sued by the U.S.
Securities and Exchange Commission, which listed 13 charges against the company, Zhao and the operator of its purportedly independent U.S.
June 18 (Reuters) - Binance has issued a cease and desist order to "Binance Nigeria Limited", Binance CEO Changpeng Zhao said in a tweet on Sunday, calling the Nigerian company a "scammer entity".
Binance, the world's biggest cryptocurrency exchange, has faced a string of setbacks recently, announcing plans to leave the Netherlands, Cyprus, Canada and Australia, and being charged by the U.S.
Securities and Exchange Commission (SEC).
Over in Europe, the STOXX 600 index lost 0.13%, but MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.74% overnight.
Combined with gains on Wall Street, the MSCI's broadest index of world stocks rose 0.42% to hover under a 13-month high.
"We're thrilled to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by pursuing regulations that both embrace Web3 and protect consumers," said Chris Dixon, founder and managing director of Andreessen's a16z crypto fund, which is setting up the office.
The regulator's heightened scrutiny of crypto firms comes in response to the industry's failure to comply with the agency's regulations, SEC enforcement director Gurbir Grewal said at a Rutgers University and Lowenstein Sandler LLP event in New York.
"Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area," the FSMA said.
Over in Europe, the STOXX 600 index lost 0.13%, but MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.74% overnight.
Combined with gains on Wall Street, the MSCI's broadest index of world stocks added 0.18% at a 13-month high. For the week, the index for world stocks might notch a 0.6% rise.
Earlier this month, Nigeria's markets regulator ordered Binance to halt its operations in the country, saying local unit "Binance Nigeria Limited" that courted Nigerian investors through a website was not registered or regulated, making it illegal.
The case comes on the heels of charges in March against Binance by another US regulator, the Commodities Futures and Exchange Commission, and as the company faces a legal probe in France on allegations of illegal trading and money laundering.
"The SEC has not said that BTC, ETH, or stablecoins generally are unregistered securities, and those assets account for at least 75% of crypto's total market cap," said Alex Thorn, Head of Firmwide Research at Galaxy Digital.
"In previous spot ETF rejections, the SEC has cited concerns about market manipulation, and BlackRock's application appears to take a different approach to address this sticking point," said Riyad Carey, a research analyst at Kaiko.
CACEIS had 4.1 trillion euros ($4.51 trillion) in assets under custody at end of last year, according to its website.
Credit Agricole SA is its majority owner with a 69.5% stake, while Santander holds a 30.5% of the group.
"The marketplace is not only not transparent and not audited but it's also, according to the SEC, rife with manipulation," said John Reed Stark, a former chief of the SEC's Office of Internet Enforcement said of the cryptocurrency market.
The move comes at a time when the global cryptocurrency industry has been caught in the crosshairs of the U.S.
securities regulator on alleged violations of securities laws.
Since then, the digital asset market has seen a high-profile bankruptcy of crypto exchange FTX and lawsuits from the U.S.
securities regulator against Binance and Coinbase Global.
The ETF filing has helped reverse negative sentiment in the bitcoin and broader cryptocurrency markets, after a series of crypto company meltdowns, including the sudden collapse late last year of exchange FTX, which authorities allege was running a multi-billion dollar fraud.
But it is also the latest sign of global firms alighting on Britain as the Government seeks to boost its tech credentials - offsetting some of the recent doom and gloom about London's status as a financial centre as firms up sticks for New York.
Last week, binance p2p (mouse click the up coming article) was sued by the U.S.
Securities and Exchange Commission, which listed 13 charges against the company, Zhao and the operator of its purportedly independent U.S.
June 18 (Reuters) - Binance has issued a cease and desist order to "Binance Nigeria Limited", Binance CEO Changpeng Zhao said in a tweet on Sunday, calling the Nigerian company a "scammer entity".
Binance, the world's biggest cryptocurrency exchange, has faced a string of setbacks recently, announcing plans to leave the Netherlands, Cyprus, Canada and Australia, and being charged by the U.S.
Securities and Exchange Commission (SEC).
Over in Europe, the STOXX 600 index lost 0.13%, but MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.74% overnight.
Combined with gains on Wall Street, the MSCI's broadest index of world stocks rose 0.42% to hover under a 13-month high.
"We're thrilled to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by pursuing regulations that both embrace Web3 and protect consumers," said Chris Dixon, founder and managing director of Andreessen's a16z crypto fund, which is setting up the office.
The regulator's heightened scrutiny of crypto firms comes in response to the industry's failure to comply with the agency's regulations, SEC enforcement director Gurbir Grewal said at a Rutgers University and Lowenstein Sandler LLP event in New York.
"Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area," the FSMA said.
Over in Europe, the STOXX 600 index lost 0.13%, but MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.74% overnight.
Combined with gains on Wall Street, the MSCI's broadest index of world stocks added 0.18% at a 13-month high. For the week, the index for world stocks might notch a 0.6% rise.
Earlier this month, Nigeria's markets regulator ordered Binance to halt its operations in the country, saying local unit "Binance Nigeria Limited" that courted Nigerian investors through a website was not registered or regulated, making it illegal.
The case comes on the heels of charges in March against Binance by another US regulator, the Commodities Futures and Exchange Commission, and as the company faces a legal probe in France on allegations of illegal trading and money laundering.
"The SEC has not said that BTC, ETH, or stablecoins generally are unregistered securities, and those assets account for at least 75% of crypto's total market cap," said Alex Thorn, Head of Firmwide Research at Galaxy Digital.
"In previous spot ETF rejections, the SEC has cited concerns about market manipulation, and BlackRock's application appears to take a different approach to address this sticking point," said Riyad Carey, a research analyst at Kaiko.
CACEIS had 4.1 trillion euros ($4.51 trillion) in assets under custody at end of last year, according to its website.
Credit Agricole SA is its majority owner with a 69.5% stake, while Santander holds a 30.5% of the group.
"The marketplace is not only not transparent and not audited but it's also, according to the SEC, rife with manipulation," said John Reed Stark, a former chief of the SEC's Office of Internet Enforcement said of the cryptocurrency market.
The move comes at a time when the global cryptocurrency industry has been caught in the crosshairs of the U.S.
securities regulator on alleged violations of securities laws.
Since then, the digital asset market has seen a high-profile bankruptcy of crypto exchange FTX and lawsuits from the U.S.
securities regulator against Binance and Coinbase Global.