By Hassan Mehmood (Saudi Arabia)
Binance exchange is the biggest cryptocurrency exchange in terms of trading volume. The firm is facing regulatory troubles in USA from SEC and CFTC. However, Binance has continued its effort to negotiate with the regulators and expand its operations.
The trading platform was able to reenter Japanese markets after existing from the territory on account of regulatory troubles. At the same pace, Binance is now reopening its doors to consumers from Belgium.
To this account, the firm has noted that registration for new consumers and access to products and services is once again a live feature for the consumers hailing from the country.
It has been a month since Binance has informed Belgium wing that they will be able to deal in cryptocurrency trading using Binance Poland branch. The regulators in Belgium had restricted the Binance from offering digital currency services under its jurisdiction.
Binance Informs Users About the Latest Changes
Binance exchange has also posted an official notification on its social media platform regarding the revival of its services. The notification addressed the consumers in Belgium that they will be able to able to digital currency trading features on Binance and also sign up for new accounts using the Poland section of their trading platform.
The trading platform said that offering trading services using the Poland branch will allow the firm to comply with the regulatory requirements of Belgium regulators.
In addition to new accounts, the consumers hailing from Belgium will also be able to access digital currency products and services. However, the consumers have to comply with the updated regulatory requirements of Binance exchange and agree to the Terms of Use in order to continue to trade on the platform and access all the trading services.
During the last few months, Binance existed from Canada, Latin America, and Middle East following the ending of deal with Mastercard as a business collaborator.
SEC Raises Objection on Coinbase and Celsius Network
SEC officials have brought an objection against the plan of Celsius Network to reorganize its debt. On this account, the regulatory agency filed an objection at the Bankruptcy Court of Southern District.
Regulators are seeking to block the restructuring plan of Celsius Network in its 15th August filing. Celsius network latest plan included distribution agreement with Coinbase exchange. SEC objects that this plan will require Coinbase to overreach its position as a distribution agent.
The objection is in line with one of the charges SEC officials have brought against Coinbase in a recent lawsuit. The prosecution claimed in the court that debtors of Celsius network do not expect brokerage services from Coinbase.
However, the agreement requirements in Celsius distribution plan have added some provisions to disprove that idea. Coinbase’s CLO Paul Grewal claimed that the firm has good business understanding with Celsius network.
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