Thai SEC files criminal complaint against Binance

[stompix]

It was 2017 back then and according to Wikipedia BTC-e was responsible for around 3% of crypto volume. Its 2021 now and binance is responsible for close to half of whole crypto volume. So we are talking about 10-50 mln$ in profit vs 5 bilion$ in profit. Its a huge difference.

Yeah, like when it has the US even once stopped because that was a billion $ company?
Binance might be big when comparing to BTC-e but it's nothing compared to Huawei and we know who was backing those up. Did the US care? Not a thing! Keep dreaming that somehow Binance is out of reach if the DoJ wants to shut them down, CZ will be already swearing alliance to a prison gang by the time you realize what's happening.

It's an unlicensed company that flees from country to country with just a bunch of servers behind it, one move from the DoJ, the domain is seized, and in a second from billions, it turns to pennies.

5-15% tax from 5 bilion$ = 250-750 mln$ income for country that will accept them. Thats enough to not run out of countries to flee to.

But unfortunately, there is no country in which Binance has actually paid tax! So, seeing that no country in which they have been based for a while got any penny, why would anybody give them refuge?

[Tytanowy Janusz]

Binance might be big when comparing to BTC-e but it's nothing compared to Huawei and we know who was backing those up. Did the US care?

Did US close Huawei or just ban US companies from interacting with Huawei? In fact binance is already banned in US. It has a separate platform binance.us to operate there.

How is it possible that Bitmex still run after its CEO being jailed while binance will be closed after CZ being arrested?

5-15% tax from 5 bilion$ = 250-750 mln$ income for country that will accept them. Thats enough to not run out of countries to flee to.

But unfortunately, there is no country in which Binance has actually paid tax! So, seeing that no country in which they have been based for a while got any penny, why would anybody give them refuge?

Didn't know that. But they will if there will be no alternative.

Maybe i'm wrong (not the first time, not the last time) ... but I'm sure that it is much safer to use binance rather than kucoin, huobi, bitfinex ... simply 99% of other exchanges.

[hugeblack]

I started that the goal of following this news is to influence the platform or the price of Bitcoin in general, although I believe that any good audit will prove a lot of manipulation and fraud that this platform does indirectly.
Generally, they will succeed in tax compliance and may pay some money, but it will push them to force users to verify identity, which will reduce their profits significantly.
I don't think many things will happen soon.

[stompix]

How is it possible that Bitmex still run after its CEO being jailed while binance will be closed after CZ being arrested?

If I would tackle a kid at football I would probably send him to the hospital, the fact that I don't go each day doing so in the nearby park doesn't mean I can't do it, it just means I'm not a psychopath! 
There is a huge difference between not being able to and not wanting to and there is zero proof of the US trying to do and failing.

Didn't know that. But they will if there will be no alternative.
Maybe i'm wrong (not the first time, not the last time) ... but I'm sure that it is much safer to use binance rather than kucoin, huobi, bitfinex ... simply 99% of other exchanges.

You see, you planed the backup scenario Binance had wrong from the start, no country that has been been the talk of being their home has gained anything from them other than headaches, why would anyone try? As for the other, why isn't Coinbase targeted by anyone? How is possible that Kraken and Bitstamp are still alive without issuing tokens, fleeing, being engaged in all shit?

I only have dust on Binance as I use their card when there is no BTC payment alternative or I don't want to enter my daily CC on some service providers I deem rather fishy, but the moment I deposited those I marked them as possible to be lost. Binance, Wirex, Kucoin, I trust my funds at bet365 and betfair more than a satoshi deposited there.

[Darker45]

As per their statement, it is their policy not to respond to regulation issues but they definitely work it out with them.

In other words, they could've avoided this but for some weird reason, they chose the harder route instead ^{[doesn't make sense]}!

It seems to me Binance thinks it is cunning enough the way it does business. They seem to operate as if they are larger than governments. We will see how the pattern of heightened regulations against crypto-related businesses in many countries affect their approach. For now, it seems they don't make their move very transparent and public, but they might actually be doing some backchannelling and perhaps under-the-table negotiations right now. They certainly have a brilliant legal team.