Bitcoin Forum

Binance exchange is having some issues with wrong accusations lately probably because it's the best, the government sees this as a gateway for money laundering network instead of the ease it brings for crypto investors, honestly the future of the exchange looks uncertain since the CEO himself said he is willing to step down if he see someone to take over but no one, I repeat no one is as good as CZ, I hope things won't come to this, CZ wants the best for crypto not just the money

Binance becomes the biggest of all exchange that is why governments are trying to bring the exchange under the regulations of their country. Already US did so binance started to offer their service via binance.us and now UK also following the same and already the sepa transfers haulted by the exchange so the people from UK can only do crypto to crypto transactions.

The truth is none of us knew exactly what they did in the past so how can you be sure they were charged of wrong accusations? Have you fallen too deep with Binance that you are lawyering for them? Let the investigations roll. Nobody is irreplaceable in the crypto industry and that includes CZ or Vitalik.

Crypto currency is become so much popular lately that's why many people want regulate the exchanges especially binance as the current biggest exchange right now to make money from it. We hope eveything is doing good and nothing change about the policy that could bring disavantage to the users.

I hope CZ won't be discouraged, the reason why binance exchange became a target is because it's the best, also CZ is a crypto lover who wants the best for all investors this will surely makes him an enemy of the government for sure

The problem was if CZ was not so expert in dealing with the regulation. I thought that if he must not retire from its place and he needs to hire the best party to handle the regulation. The binance exchange site must also follow some regulations and got licenses on the country that it already operated. that will be removing all of the accusations for binance exchange site.
It seems like another big exchange site already got license or at least approval for their operation.
Binance was also the largest exchange site in the world.

Binance is a top exchange with high popularity, many acquisitions in some cases, platforms, and also exchanges in several countries. Binance also has a big community, so many members and users of the exchange.
As a top exchange, there will be some terms:
- Some parties may not like Binance
- They will make the Binance reputation falling down
- They are willing to stop the dominance of Binance
- They will think to fall down the crypto world by making certain FUD in this big exchange
and many more reasons that will be always spreading around the world.

You cannot stop those governments that are thinking about that with Binance because there really are people that do that. As for CZ, he's an intelligent guy, and don't think that he's too soft for that. How many challenges he has surpassed with his company?
These obstacles are part of another big growth that's going to come with his exchange and that's really needed for him and his company to take those obstacles on so that they'll grow and the future will be an act of sweet revenge for them once most countries are good with them.

Binance is a very good coin and exchange. It is a very popular exchange site and coins all over the world. After Bitcoin Ethereum we saw the location of Binance. Looking at Binance popularity and transactions around the world, we can say that it has a bright future. This finance is being supported in different countries. So I can see the future of this Binance Coin very well.

I also saw a thread in here a few days ago and if i remember correctly i even posted in it. That thread was about a guy on twitter that allegedly did a thorough research about binance and there where even some documents shown like for example a document of the cayman islands that basically said that there is a strike off pending for binance at the 29th of october 2021. I don't really know if that document is legit as it is just a screenshot and probably very easy to fake. But i will say though that, recently there where some negative news about binance like the CEO that left binance only a few months after he joined. I don't really think though that anything major will happen to binance in the near future.

Do not underestimate CZ, he is the right fit for binance exchange and for him to come this far it shows how stronger he his so I'm sure he his up for any challenges that the government throws at binance exchange, also I'm sure no one will be able to come up and try to take over binance exchange, none will be able to handle the pressure than CZ himself

This kind of problem is not only experienced by Binance, but OKEx has also experienced it. But the problem was resolved well and then all is well, I hope it will continue like that. because if a popular exchange like Binance experiences serious problems that are not resolved properly, it will have a bad impact on Cryptocurrencies.

They wont really make this big if they werent really that passionate towards this business of course regulation would really be next in line and you should really expect that one specially if the business would become big
and well-known but if you do really persevere on the business then they cant do anything about it even though there might be some squeezing moments but it wont be enough on taking it down.
Government is too active when it comes to regulating into something and if they do find out or does have impression that it could be possibly a gateway of something then
its non surprising that they would really make involvement as usual.

I am not surprised cus this is what every company that have raised to prominence face once in a while or even all the time, binance is the best and largest crypto exchange in the world and they shouldnt expect things to be all hearty and rossy, at times, challenges like this will come, they would have to fight and surmount many obstacles to remain in the position where they are or even move higher, CZ should nt act or talk like a coward, he can't be thinking of stepping down due to a little huddle like this, that's cowardice if am asked, he should stand up and face the challenges, fight it with all he got and win, that's how true leaders are known, not by running off to step down at the very first challenge you are faced with.

Do you have a link that I can visit about that matter?
TBH We cannot blame governments in case of irregularities because we all know that all countries and governments have different laws. So maybe we'd better just follow.

Not really. CZ wants the ultimate power, ultimate control, influence over the crypto community. Do you remember the 7000 BTC hack from Binance where CZ wanted to rollback the tx? Although he later said he doesn’t want to rollback, the truth is he can't. He tried to influence the miners but they are not that stupid enough to hear him. He wants everyone to hear him, everyone to be influenced by him.

Governments are trying to put pressure on cryptocurrencies by putting pressure on Binance because it is the largest cryptocurrency exchange in the world, putting pressure on Binance will make governments achieve their goals in imposing more restrictions on cryptocurrencies, in other words, governments are trying to impose their restrictions on cryptocurrencies through Binance.
It seems that they succeeded because Binance recently imposed some restrictions on users such as reducing the maximum daily withdrawal limit to 0.06BTC instead of 2 BTC, they also banned API applications for those who did not complete KYC

I don't know for sure, but when it comes to money laundering allegations, I don't think Binance is the only one that the government should be focusing on for the same cases happening in all crypto exchanges in the world.
Then why Binance? isn't Binance the No. 1 as the biggest exchange, therefore with the government investigating Binance hoping all exchanges will feel threatened? It's not that easy to just stop with the accusations that Binance has faced so many times.

Competition is high which its understandable that there would be involvement of government because these platforms still centralized ones even though they are serving out to those people or users
who do mind off about being decentralized or simply with crypto and this is one of the problems that we would saw and i wont be surprised if one day that Binance would be asking full KYC into its users
and wont really be having or removing that 0.6 btc daily limit for unverified users but for now lets just cherish these benefits until it would become fully regulated.
Regulations are common and it isnt a surprising thing on any business no matter what market they are serving on.

there are so many reason. Common reason is already discussed here as government force binance to follow their rules so that government could balance the the whole system. But binance itself could also responsible behind this drama cause binance also try to manipulate crypto even several time they done that. now they are trying to find out more ways how to use their user and their fund

Governments will always be charging money laundering through the cryptocurrency exchange. In the case of Binance, it is so easy because they have large limits that do not require KYC verification. Right now this is changing and the limits are going down. All these problems arise because governments simply want to control the flow of money. Therefore, in my opinion, decentralized exchanges will become more and more popular in the future.

At least that's the most objective answer although I don't mind people's assessment of how much the government hates crypto that threatens fiat.

For whatever reason, investigating crimes is not Binance's obligation, they just provide any evidence relating to their services. No matter how large the service is, if Binance operates in a certain country without a clear license and appropriate user requirements under local law, then it is illegal and binance can be considered facilitating crime.

Of course he isnt. I know a guy like him wont be just gave up with the likes of those accusation. We dont know what Binance did wrong in the past but I know if they did they can fixed it and follow the right protocol. There are solid regulations for crypto anyways.

And as far as we knew Binance. They are dealing with multiple protocols per country and I could say they are doing theit best. Only those who understand Binance are the solid users whom been with Binance and been with them until now.

I'm one of their loyal users and I am not thinking of migrating or changing my exchange, Binance is the only exchange for me I'm safe secure, and confident of their services, I hope they can address those issues raised against them, it's the market that will suffer if Binance suffers from government persecution.

Well that's probably the best decision for binance to make, with so many bad issues floating around they prefer not to go against government policies.
However, Binance has played a very important role in the survival of crypto so far.

From the perspective of an exchange with a great reputation, CZ has gradually changed its perspective towards accessing new projects listed on binance with more superficial testing since the beginning. But CZ remains an advocate and makes sense for the market. Binance seems to be in a dilemma, I think there are many possible conspiracies since the BinanceUS crash.

To be sincere, Binance has changed the narrative when it comes to its support and promotion of blockchain and cryptocurrency. The exchange and its allied businesses have been expanding to different countries to help increase the awareness and adoption of crypto. It's expected that resistance would rise up through regulatory issues.

CZ shouldn't step down yet as CEO of Binance as he still has a lot more to offer. He's a shrewd businessman.

Very true, binance has manage to change the narrative and took the ecosystem to another level, more like operating in its own zone, am actually please to see how the business has manage to grow from scratch in this competitive environment and even expand to other locations, for a business to survive and be successful as binance is, there is need for a little bit of shrewdness otherwise things will not be able to go this far,
my wish is for cz not not lose focus, he should keep moving forward and handle all negativity as calmly as he could be.