Stablecoin

Patrick

Read

Elon Musk

<div class="coingape"> 
 <h2 id="leon-foong-steps-down-amid-rising-legal-issues">Leon Foong Steps Down Amid Rising Legal Issues</h2> 
 <p>Foong’s decision comes as Binance faces mounting challenges due to increased regulatory scrutiny and allegations of various transgressions. Recent months have witnessed the departure of several key executives, including Chief Strategy Officer Patrick Hillman and General Counsel Hon Ng.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1">
   <div class="advertised">
    <span class="ad-placeholder">advertisement</span>
   </div> 
  </div>  
  <div id="my-banner-ad" class="d-inline-block"></div> 
 </div> 
 <p>With regulatory actions impacting <a rel="dofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s operations in the US and Europe, the Asia-Pacific region and the Middle East have become focal points for the exchange’s growth strategy. However, <a rel="dofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s dominance in global crypto trading has waned due to these regulatory concerns and the loss of certain banking partnerships, leading some traders to migrate to alternative exchanges.</p> 
 <p>The US Commodity Futures Trading Commission (<a rel="dofollow" title="CFTC" href="https://thebittimes.com/tag/cftc.html">CFTC</a>) filed a complaint against <a rel="dofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> in March, alleging that the exchange and its founder, Changpeng “CZ” Zhao, had violated derivatives laws and taken insufficient compliance procedures. These charges were refuted by <a rel="dofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>, which described the lawsuit as “unexpected and disappointing.”</p> 
 <p>Subsequently, the US Securities and Exchange Commission (SEC) filed a lawsuit against <a rel="dofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> and Zhao in June, accusing the company of flouting investor protection regulations by operating unregistered exchanges, misrepresenting trading controls, and engaging in the sale of unregistered securities.</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path>
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp">
      <noscript>
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy">
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/30/fa6133ad6e87ee1c4776d3849180d46b.webp">
      <noscript>
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/30/fa6133ad6e87ee1c4776d3849180d46b.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy">
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/30/f88de9f91a8c6b7926f52e209e8f697e.webp">
      <noscript>
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/30/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy">
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/30/e59946958a3ce000f279efb2e1b9c852.webp">
      <noscript>
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/30/e59946958a3ce000f279efb2e1b9c852.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy">
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/30/48cfebc8a0493db9937bed5dd005ee19.webp">
      <noscript>
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/30/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy">
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p>Also Read: Elon Musk Plans To Roll Out Audio And Video Calls On X</p> 
 <h2 id="binance-cease-support-for-busd-stablecoin">Binance Cease Support For BUSD Stablecoin</h2>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p><a rel="dofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> is currently facing legal issues in foreign countries. French authorities are looking into the exchange for allegedly providing services for digital assets illegally and perhaps laundering money. Additionally, it ran into regulatory conflicts in Australia, the Netherlands, and Canada, where it left after failing to register with the regional financial authorities.</p> 
 <p>Signaling a shift in Binance’s operations amidst ongoing legal battles, the exchange has announced its plans to cease support for the BUSD stablecoin. This move underlines the evolving landscape for Binance, as it navigates complex regulatory challenges on multiple fronts.</p> 
 <p>As Binance continues to grapple with legal intricacies, the departure of Leon Foong underscores the intensifying pressure that regulatory actions are placing on the cryptocurrency exchange giant.</p> 
 <p>Also Read: BTC Price Needs to Hold In This Range to Confirm Bitcoin Recovery</p> 
</div>    
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/binance-asia-pacific-head-leon-foong-leaves-amidst-legal-issues-tbt61083.html">https://thebittimes.com/binance-asia-pacific-head-leon-foong-leaves-amidst-legal-issues-tbt61083.html</a></p>

Binance Asia-Pacific Head Leon Foong Leaves Amidst Legal Issues

Table of Contents

TheBitTimes

Other articles published on Aug 31, 2023

Coinbase to List PayPal's Stablecoin $PYUSD

Shiba Inu, PEPE, Grimace Coin – Which Of Them Is Ready To Pump 10X In Autumn 2023?

Worldcoin Reports Record Single-Day Sign-Ups in Argentina Despite Data Scrutiny

Friend.tech Sees 95% Drop in Trading Volumes!

Optimism Price Prediction: Will Token Unlocks Affect OP Price?

Grayscale Clears Path for Bitcoin Innovation: Vivek Ramaswamy

Join our free newsletter for daily crypto updates!