The follower of the Arab Bitcoin sees how much negative news we touched on in previous articles about the Binance platform for cryptocurrency trading, including:

• Binance is not registered in the Cayman Islands with an investigation there by the regulator.
• What impact does the FCA decision in the UK have on Binance’s business?
• Cryptocurrency exchange Binance announces that it will no longer serve Ontario users!
• Japan’s Financial Services Authority “FCA” Warns Against Cryptocurrency Exchange Binance

After these regulatory moves from around the world, Binance CEO Changpeng Zhao responded with a tweet yesterday that Binance, one of the big names in cryptocurrency trading, is working on solving the problems and focusing on it instead. from engaging in discussions or fights.

Read:Elliptic partners with the NEAR crypto project to improve the security of blockchain networks

For those who follow/support us, you know we don’t get involved in discussions/battles, we focus on solving problems, and we will. As always, thank you for your trust and support! We will continue to grow together. 🙏

– CZ 🔶 Binance (cz_binance) 2 July 2021

However, none of Binance’s problems are close to solving, and rather, the arena of these problems has expanded.

The number of countries that have issued some form of regulatory alert to Binance has now reached 6.

As we mentioned, Binance is the largest cryptocurrency trading platform in the world with a large segment of users across the world.

But the crypto decline in recent weeks has been a rocky road for Binance, as several regulators in Japan, the United Kingdom, Canada, Singapore, the Cayman Islands and Thailand have moved against Binance.

Asian Countries Reject Binance:

Binance’s regulatory concerns began with Japan’s Financial Services Agency (FSA).

The Financial Services Authority “FSA” warned against the Binance platform for trading and exchanging cryptocurrencies for not complying with the laws of the country.

Read:Why is there now more Tether on the Tron blockchain than there is Ethereum?

Japan’s FSA has clarified that Binance is operating in the country without registration under the new guidelines and could be charged with a criminal offence.

Binance faced a similar licensing issue with Japan in 2018, with rumors of warnings from Japanese security services.

This news was closed as petty gossip about cryptocurrency by CZ.

A few days after the warning from Japan, Binance withdrew its services from the Canadian province of Ontario, fearing that it would become the prey of a global crypto-regulatory campaign, as Binance took a proactive stance of stopping its services to residents of the province of Ontario.

Rather than losing the war, Binance chose to withdraw from the designated region (Ontario) to avoid imposing severe restrictions on cryptocurrency trading and exchange in Canada as a whole.

Singapore becomes the next Asian country to join the chain of Binance alerts in 2021.

With Binance’s parent company under multiple regulatory investigations, Singapore has announced that it is scrutinizing the activities of local company “Binance Holdings Ltd” in the country.

Singaporean authorities told Bloomberg:

We are aware of the actions that other regulatory authorities have taken against Binance and will follow up as appropriate.

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Thailand joined the anti-Binance club yesterday as the Thai Securities and Exchange Commission (SEC) ordered a criminal investigation against Binance.

Binance is under scrutiny for illegally providing digital trading and exchange services by finding advertisements and inviting local Thai investors to enter into trade and trading agreements on Binance.

If the criminal case against Binance is proven, Changpeng Zhao will likely be fined more than 500,000 baht ($15,500).

Inconclusive crackdown on Binance in the UK:

Binance was ordered to cease all trade and exchange activities on its platform in Britain.

The company can perform the tasks only with the written approval of the “FCA”.

However, the strict ban was lifted within days after the FCA’s announcement.

Where investors can once again use the services of Binance to make withdrawals and deposits of cryptocurrency.

Binance and Cayman Islands:

The Cayman Islands Monetary Authority (CIMA) has ordered an investigation after news of an unauthorized Binance headquarters in the country.

However, Binance dismissed all accusations, telling it that it is a “truly decentralized” platform with no physical headquarters.

Similar news circulated about the unlicensed Binance office set up in the Cayman Islands in 2017, which was subsequently closed.