Read

/send

<div class="protos">
 <div>
  <div>
   <div>
    <p>Regulators in <a rel="noopener noreferrer nofollow" title="Florida" href="https://thebittimes.com/tag/florida.html">Florida</a> and <a rel="noopener noreferrer nofollow" title="Alaska" href="https://thebittimes.com/tag/alaska.html">Alaska</a> have told <a rel="noopener noreferrer nofollow" title="Binance US" href="https://thebittimes.com/tag/binance-us.html">Binance US</a> that it can no longer serve its residents, according to reporting from the Wall Street Journal (WSJ).</p>
    <p><a rel="noopener noreferrer nofollow" title="Binance US" href="https://thebittimes.com/tag/binance-us.html">Binance US</a>, the state-side arm of crypto exchange Binance, was reportedly denied a license renewal by the <a rel="noopener noreferrer nofollow" title="Alaska" href="https://thebittimes.com/tag/alaska.html">Alaska</a> Division of Banking and Securities. Similarly, <a rel="noopener noreferrer nofollow" title="Florida" href="https://thebittimes.com/tag/florida.html">Florida</a>’s Office of Financial Regulation sent an emergency suspension order against <a rel="noopener noreferrer nofollow" title="Binance US" href="https://thebittimes.com/tag/binance-us.html">Binance US</a>’ money transmitter license.</p>
    <p>The latter is said to have come just a week after Binance and its former chief Changpeng Zhao (CZ) reached a plea deal agreement for violating US anti-money laundering rules at the end of November.</p>
    <p>Speaking to the WSJ, a spokesperson for Binance US said that the firm was “in active dialogue with state officials.” However, she declined to comment on whether the crypto exchange would appeal the decisions by Alaska and Florida.</p>
    <figure class="wp-block-embed is-type-wp-embed is-provider-protos wp-block-embed-protos">
     <div class="wp-block-embed__wrapper">
      <blockquote class="wp-embedded-content" data-secret="udA7myMyHy">
       Binance and CZ plead guilty but SEC lawsuit remains
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Binance and CZ plead guilty but SEC lawsuit remains” — Protos" src="https://protos.com/binance-and-cz-plead-guilty-but-sec-lawsuit-remains/embed/#?secret=tiovwuLloT#?secret=udA7myMyHy" data-secret="udA7myMyHy" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
     </div>
    </figure>
    <p><em>Read more: Did Binance ex-chief CZ really come to the US voluntarily?</em></p>
    <p>Arkansas, Illinois, and South Dakota reached a deal with <a rel="noopener noreferrer nofollow" title="Binance US" href="https://thebittimes.com/tag/binance-us.html">Binance US</a> in December that would allow it to keep operating in its jurisdictions. However, the agreement required <a rel="noopener noreferrer nofollow" title="Binance US" href="https://thebittimes.com/tag/binance-us.html">Binance US</a> to make CZ’s transfer of voting rights irreversible.</p>
    <p>According to the spokesperson, CZ has already stepped down from Binance US’ board of directors. His voting rights have been transferred to current CEO Norman Reed, who took the helm on an interim basis in September following the departure of former chief Brian Shroder.</p>
    <p>CZ is slated to be sentenced on February 23. He faces 18 months in prison.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
   </div>
  </div>
 </div>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/florida-and-alaska-give-binance-us-the-boot-report-tbt77883.html">https://thebittimes.com/florida-and-alaska-give-binance-us-the-boot-report-tbt77883.html</a></p>

Florida and Alaska give Binance US the boot, report

TheBitTimes

Other articles published on Jan 26, 2024

Polygon Nearly Matches Ethereum in Crypto User Acquisition in 2023

Surprising Prediction for Bitcoin from Ark Invest's Former Analyst: "Bitcoin Can Test These Level...

Kraken Hires Marcus Hughes, Former MD Of Coinbase’s European Business

Global stock market ticks up as dollar loses ground

Hugewin Review 2024: Unveiling the Honest Experience

Crypto whales accumulating ETH, XRP, and GFOX

Join our free newsletter for daily crypto updates!