Ethereum

BUSD

Bitcoin

<p>The post <a href="https://coinpedia.org/news/binances-new-chapter-balancing-innovation-with-regulation/">Welcome a New Binance: From Rule-Breaker to Compliance &amp; Innovation Leader</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Cryptocurrency expert Lark Davis gives us a peek into Binance’s journey, a major player in the crypto world. Since its start in 2017, Binance has grown from a small startup to a big-name, focusing more on following the rules. </p> 
<p>This article looks at how Binance has changed, what’s happening in the wider crypto world, and the rules affecting the company.</p> 
<h2 class="wp-block-heading" id="h-understanding-binance-s-change">Understanding Binance’s Change </h2> 
<p>Lark Davis, a businessperson and Bitcoin fan, talks about how Binance has changed. It used to be seen as a rule-breaker in the new world of crypto, but now it’s all about following the rules. This is a big change from the early days of crypto, where companies often made things up as they went along. While not perfect, Binance in 2023 looks very different from when it started.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Binance <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@binance</a> has come a long way from the early days of 2017. It is now an industry leading exchange when it comes to compliance.<br><br> The crazy thing with crypto is that exchanges, and really crypto more broadly, has been doing the equivalent of driving the car at 100 miles an…</p>— Lark Davis (@TheCryptoLark) <a href="https://twitter.com/TheCryptoLark/status/1729977301725819342?ref_src=twsrc%5Etfw">November 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Despite what you might hear, the crypto world isn’t as full of scams and hacks as people say. Davis explains that blockchain, the tech behind crypto, makes it hard for bad things to happen. This helps change how people see the crypto world, making it seem more legit.</p> 
<h2 class="wp-block-heading" id="h-binance-s-steps-in-the-right-direction">Binance’s Steps in the Right Direction</h2> 
<p>Binance is doing its part to stop crimes in the crypto world. The company works with the police to keep things safe for users. This shows that Binance is serious about making the crypto world a safer place, going against the idea that it’s only for illegal actions.</p> 
<p>Binance’s recent agreement to a <a href="https://coinpedia.org/news/markets-withstand-4b-binance-penalty-as-analysts-predict-resiliency/">$4.3 billion settlement with U.S. authorities</a> over sanctions violations and illegal money transfers, as analyzed by K33 Research, is a testament to the growing regulatory scrutiny in the crypto space. However, this settlement, crucially, did not involve mishandling of client funds, which is a positive sign for market stability. Bitcoin and Ethereum prices have remained resilient in the aftermath of this announcement, indicating market confidence in Binance’s operational integrity.</p> 
<p>Read More: <a href="https://coinpedia.org/news/markets-withstand-4b-binance-penalty-as-analysts-predict-resiliency/">Markets Withstand $4B Binance Penalty As Analysts Predict Resiliency</a></p> 
<h2 class="wp-block-heading" id="h-binance-says-bye-to-busd-stablecoin">Binance Says Bye to BUSD Stablecoin</h2> 
<p>In a significant move, Binance announced the <a href="https://coinpedia.org/news/binance-to-end-of-support-for-busd-stablecoin/">end of support for its BUSD stablecoin</a>, effective December 15, 2023. This decision stems from the regulatory pressures faced by Paxos, the issuer of BUSD, and reflects Binance’s adaptive strategy.</p> 
<p>Read More About This: <a href="https://coinpedia.org/news/binance-to-end-of-support-for-busd-stablecoin/">Binance To End of Support for BUSD Stablecoin</a></p> 
<p>Despite the regulatory challenges, there is a sense of optimism within the Binance community. The company is ready to change, work with the authorities, and keep users safe. This makes Binance a leader in the changing world of crypto. Lark Davis’s thoughts remind everyone in the crypto world to keep up with rules and changes, setting an example for others in the game.</p>

Welcome a New Binance: From Rule-Breaker to Compliance & Innovation Leader

Table of Contents

CoinPedia News

Other articles published on Nov 30, 2023

Binance launches the world’s first crypto triparty deal

Status Quo At Binance: New CEO Affirms No Changes To Top Executives

Flare Labs Begins Testing FAssets on Coston Testnet Paving Way for Non-Smart Contracts to Flare

ProBit Global Listing Advances DeXagon's Vision of a Fully Immersive Metaverse Experience

RUNE Price Analysis Completes Bullish 180, Ready To Top $8.5?

Crypto Whale’s Unprecedented Altcoin Withdrawals from Binance Raise Eyebrows

Join our free newsletter for daily crypto updates!