These and many other negative news stories, about the world's largest exchange, have been in the air for months. Question:
- In your opinion, is this a consequence of increased pressure on China by the U.S.?
- What will the problems of Binance lead to for crypto market and crypto users?
I may not or may not be able to answer your question directly but would like to note some few things from the allegations. We have all read the news first it was Binance and today Coinbase. I see this as witch-hunting and a precursor to crypto regulation. Did Binance and Coinbase actually break the rules? I have yet to see any statement from them. If this is actually true then I am really pissed that they weren't so meticulous in learning and obeying the laws in other countries. There is no cause for alarm or any need to panic by the news, bitcoin, Binance and Coinbase will survive this.
As they say, "there is no smoke without fire. And there have already been many claims to Binance, from attempts not to comply with U.S. law, to assistance in financing the Russians associated with international terrorism and the unleashed war in Ukraine. Seysa has made additional accusations, and clearly not from nothing. China is trying hard to show itself as the "second pole of the world", which will not do the bidding of the "first pole of the world. Especially in such a delicate subject as the alternative financial system, i.e. cryptocurrencies. How this will end is not entirely clear. For example, I am worried about the risk of possible blocking of the exchange and freezing of funds stored there, with the subsequent multi-year process of proving that my funds are "clean before the law". And this variant of the situation is not excluded...