Binance has restricted its services in multiple countries around the world
Binance, the world's largest digital currency trading platform by trading volume, has restricted its services in multiple countries around the world while completely ending operations in some due to regulatory pressure. The exchange is not operable in Canada, the Netherlands, the United States, Cuba, North Korea, Iran, Syria, Crimea, or non-government controlled areas of Ukraine.
Binance Halts Nigerian Naira Trading and Withdraws Application for Abu Dhabi License
The platform has faced scrutiny from Nigerian regulators and was forced to shut down all Nigerian Naira trading services due to accusations of terrorism financing and money laundering. Additionally, Binance withdrew its application for an Abu Dhabi license, stating it was not necessary. The application was filed a year ago on November 7.
Binance Engages in Negotiations with Indian Regulators Over Compliance with Anti-Money Laundering Laws
Binance is currently in negotiation with Indian regulators after authorities blocked access to its mobile application and website. The exchange failed to comply with the Prevention of Money Laundering Act and Financial Intelligence Unit regulations, according to authorities.
BaFin Denies Binance Custody License as Company Responds to US Regulatory Pressure
German regulator BaFin rejected Binance's application for a cryptocurrency custody license following regulatory actions by the US Department of Justice and SEC. In February, former Binance CEO Changpeng Zhao confirmed the firm had pulled back on some US investments due to regulatory pressure.