Binance News: Latest Announcements & Top Stories

Your source for the latest news from Binance. Get access to our official announcements, blog posts, news updates, media assets and more.

Binance closes referral program for users in Turkey

Binance has terminated its referral program for users in Turkey to comply with local regulations. While the referral program ends, all other Binance services will remain fully accessible to Turkish users without interruption. The move is part of ... [show/hide]

Binance's effort to align with Turkish laws.

Wednesday 23 October, 2024

Binance to convert selected delisted tokens to USDC by March 2025

Binance has announced plans to convert several delisted tokens into USDC, a stablecoin pegged to the US dollar, as part of its efforts to streamline its offerings. The conversion, impacting tokens such as Bitcoin Gold (BTG), Monero (XMR), and ... [show/hide]

Sologenic (SOLO), will be completed by March 1, 2025. Users must withdraw these tokens by September 1, 2024, as withdrawals will not be supported afterward. The conversion rate will be based on the average exchange rate from September 2, 2024, to March 1, 2025, with equivalent USDC credited to users' wallets. This move reflects Binance's focus on optimizing its asset portfolio and adapting to regulatory and liquidity considerations in the crypto industry.

Sunday 18 August, 2024

Binance to pay USD 1.7M to settle dispute with Brazilian regulator

Binance has reached a settlement with the Brazilian Securities Commission (CVM), agreeing to pay 9.6 million reais (around $1.76 million) to resolve allegations that it offered derivatives trading in Brazil without the required licenses. This ... [show/hide]

agreement, finalized after Binance submitted a revised proposal in February 2024, comes after the CVM rejected an earlier offer of 2 million reais in August 2023. The dispute dates back to July 2020 when the CVM ordered Binance to stop its unauthorized derivatives trading services in Brazil. By settling the case, Binance avoids further regulatory action and strengthens its position in the Brazilian market.

Sunday 18 August, 2024

India demands $86M from Binance in unpaid GST taxes

Indian law enforcement has demanded 722 crore rupees ($86 million) in unpaid taxes from crypto exchange Binance. Banned in January 2024 for regulatory noncompliance, Binance aims to resume operations in India after settling these taxes. On August 6, the Directorate General of Goods and Service Tax Intelligence (DGGI) issued the demand under GST. Despite initially ignoring notices sent to international offices, Binance has now appointed local counsel to ... [show/hide]

resolve the issue. Indian law requires a 1% TDS on every crypto transaction and a 30% tax on crypto profits. Binance’s $86 million fine aims to recoup fees collected from Indian users.

Tuesday 06 August, 2024

Binance to remove prime brokerage loophole

Binance is closing a loophole in its Link Program that allowed prime brokerages to exploit the multi-tiered fee structure for arbitrage. Top-tier brokerage partners benefited from discounted trading fees by aggregating accounts and trading on behalf ... [show/hide]

of clients, thereby pocketing the fee difference or offering reduced fees to attract new customers. This change aims to prevent these brokerages from unfairly profiting from the system's tiered discounts.

Wednesday 17 July, 2024

Binance Scheduled to Face Tax Evasion Charges in Nigerian Court This October

Binance will face tax evasion charges in Nigeria on October 11 (Reuters). The cryptocurrency giant is accused of failing to register with Nigeria's Federal Inland Revenue Service. In a recent hearing, Binance's representative pleaded not guilty to ... [show/hide]

all charges. The trial could significantly impact Binance's operations in Nigeria and the regulatory landscape for cryptocurrencies in the region.

Friday 12 July, 2024

Binance marks 7th anniversary with 200M users and new campaign

Binance, the world's largest cryptocurrency exchange, has celebrated its seventh anniversary, marking significant growth in the digital asset industry. With over 200 million users globally, Binance has launched the "Be Binance" campaign to reward ... [show/hide]

its loyal customers. Rachel Conlan, Binance's Chief Marketing Officer, emphasized the company's commitment to values such as humility, kindness, collaboration, and gratitude.

Friday 05 July, 2024

Binance.US ‘prepared’ for SEC legal showdown

Binance.US is preparing for a prolonged legal battle with the SEC over allegations of securities law violations, unregistered investment products, and anti-fraud breaches. The exchange emphasized its commitment to U.S. regulations, maintaining 1:1 ... [show/hide]

reserves for customer assets, and robust compliance programs. Binance.US criticized the SEC's enforcement tactics, calling it "regulation by enforcement" and attributing their challenges to politically motivated actions by the agency's current leadership.

Tuesday 02 July, 2024

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