Looks like every country now are milking binance...

[Davidvictorson]

There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.

With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.

Binance is already banned in my country in West-Africa and even before then, some of their executives were jailed for a period of time. I can't tell if they made any payment or not because at some point there was a mention that they government had asked them to pay some money. Binance was like one of the first crypto exchanges and they moved into countries to start operating without doing their homework very well. Now they have to "pay for their sins".

[Reatim]

For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.

in my country also, they investigated binance but at the end binance was banned the reason was because of unregistered securities but i doubt france will do the same

No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.

of course no jail time as they most likely will not find something completely illegal but only offenses that may not comply with their regulations they would probably just look for loopholes to penalize them

[tread93]

Its a good thing that they are a monstrous exchange and have the resources to back up all of these legal battles they have been getting into with |CZ and the SEC and now the French / EU. I wonder if the string will continue and every government will bandwagon on this, hang on Binance lol.

[famososMuertos]

"milking binance..." (x!X) I'm serious, it's a very encouraging phrase with one of the exchanges that 'squeezes' the most with fees, so, more than for service to users because it is the "most popular" CEX option, at in point I suppose that something related to MICA could also exist here, in any case it is a centralized Exchange, what is the problem with supervising it.

[freedomgo]

There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.

With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.

And if I'm not mistaken, same with India, but they were able to come back by paying fines, they have been ban for 7 months, but they paid a small amount of $86 million tax demand for the Indian government.

But it could be very different in EU though and just like Meta, the cost could be in the billions just like what the OP says.

As far as I know, Binance started implementing MiCA stablecoins rules for their European customers, but I think it's not enough for European regulators.

I just found out that Binance paid such a small amount in India (thanks to you), considering it’s one of the biggest markets with the largest population.

Looks like Binance only settles legal issues in countries where they think they can maximize their profits. In the Philippines, for example, they haven’t paid anything to the government, yet users can still access the exchange using a DNS bypass.

So it seems like they only comply when it’s absolutely necessary for their business interests.

[fikrett]

Sometimes the goal is not milking binance but forcing them to fully cooperate in all data and exchange it with governments such as customer data or their tax returns and other data useful to governments.
Judicial levels of a million or several million dollars will not be a problem for binance but many fines may force them to leave the market.

Agreed.
It's about the data probably.
We've seen many cases already personal and not about the same dilemma or question per se, the one you described in your post. And as time goes on, there wouldn't be less of such cases.

[BitJannik]

This case could have broader implications for the crypto market in Europe. If regulators impose heavy penalties or new restrictions, it might discourage other exchanges from operating in the region. Investors and traders should watch how this unfolds as it could impact liquidity, trading options and even the regulatory stance of other jurisdictions watching the EU's approach

[peter0425]

Its a good thing that they are a monstrous exchange and have the resources to back up all of these legal battles they have been getting into with |CZ and the SEC and now the French / EU.

They got to this point where they are a big exchange and have many resources because of the trusted services they offer. This may also be the very reason why they are being targeted by a lot of countries’ governments. They know that if they can’t beat binance they might as well go and take advantage of the exchange.

I wonder if the string will continue and every government will bandwagon on this, hang on Binance lol.

For the sake of everyone, I hope not lol. But I wouldn’t be surprised especially if other countries see how much binance can do.

[fikrett]

"milking binance..." (x!X) I'm serious, it's a very encouraging phrase with one of the exchanges that 'squeezes' the most with fees, so, more than for service to users because it is the "most popular" CEX option, at in point I suppose that something related to MICA could also exist here, in any case it is a centralized Exchange, what is the problem with supervising it.

It's the biggest one to "milk" so to speak 
The rest would be smaller to try the same things out, with lesser rewards for it.

[WatChe]

There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.

With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.

There are many countries where Binance is banned because of different reasons. In my country (Pakistan), government has issued warnings on use of crypto exchanges like Binance because scammers are using P2P trading feature of Binance to cash out the money. 

There is interesting post from theymos that tells what exactly is digital exchange and why we must not put our Bitcoins there. Reminder: do not keep your money in online accounts. What happens if your country ban Binance or Binance freeze your account because of violations of there terms and conditions, your all funds are lost forever. Think before you put your funds in Binance, it's full of risk.   

[Z-tight]

They got to this point where they are a big exchange and have many resources because of the trusted services they offer. This may also be the very reason why they are being targeted by a lot of countries’ governments. They know that if they can’t beat binance they might as well go and take advantage of the exchange.

What do you mean by 'beat Binance', lol, binance is a centralized exchange and they have to comply with regulators, if they do not want to comply with the regulations in a particular jurisdiction, then they shouldn't offer their services in such places.

If you also want to talk about 'taking advantage', then what about binance that takes advantage of their customers with high fees, especially if they want to withdraw BTC. Binance does whatever it can to make money, they even knowingly break rules for that purpose, so they have to answer when the law comes knocking.

[FortuneFollower]

They got to this point where they are a big exchange and have many resources because of the trusted services they offer. This may also be the very reason why they are being targeted by a lot of countries’ governments. They know that if they can’t beat binance they might as well go and take advantage of the exchange.

What do you mean by 'beat Binance', lol, binance is a centralized exchange and they have to comply with regulators, if they do not want to comply with the regulations in a particular jurisdiction, then they shouldn't offer their services in such places.

If you also want to talk about 'taking advantage', then what about binance that takes advantage of their customers with high fees, especially if they want to withdraw BTC. Binance does whatever it can to make money, they even knowingly break rules for that purpose, so they have to answer when the law comes knocking.

Everybody tries to get the most out of the least, so it's no wonder there is a power play here and there to make Binance comply / change things up.
I do agree with your points 

[Hazink]

All this country is trying to do to milk Binance comes a bit too late; after the US fined them and won the case against them, they have been facing lawsuit after lawsuit and fine after fine from different regulators.All this could be linked to them entering the market of a particular country without following the due process, and the milking could be the other way round, as they (Binance) have been the ones enjoying benefits from the citizens of most countries without properly remitting taxes accordingly. Just as HugeBlack said, they could indirectly be dragging them to come and do the right thing; if you don't force most of these companies, they will always be taking advantage of privileges.

[Lanatsa]

in the recent news, "French investigators open fraud probe against crypto platform Binance"..

https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/

So this will be the period that they will be investigating,

The investigation is examining the period from 2019 to 2024, involving offences committed in France but also in all European Union countries, JUNALCO said.

For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.

No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.

Whenever there's someone who do able to make up that huge money about throwing out some cases or whatever that it is really that correlated into it then this is where we have seen that US did successfully be able to have that money as Binance did make out such settlement and for those other countries do sees out that kind of chance or probabilities then this is why they will really be that trying out to do the same step and this is why they are making out such step but we dont know if this one will really be that working out or not but its true that Binance could be able to easily be able to pass through considering about their financial capacity.

Its no surprise that they will really be trying out to milk out because if those allegations wont really be that enough or couldnt be able to prove out then it will really be just that simply be forgotten and find out another some issues and happens again and again. Here in our country which Binance is really that already banned and cant be able to access through their website but when it comes to apps then its still accessible. They are that saying about compliance of Binance but its pretty obvious that they are really that trying out to milk some money.

[Z-tight]

They are that saying about compliance of Binance but its pretty obvious that they are really that trying out to milk some money.

If Binance had complied with regulators do you think they would have pleaded guilty and settled for a plea deal when they had a case with the U.S. doj, do you also think their founder and former ceo would have pleaded guilty, cooperated with law enforcement just to get only 4 months in jail. They are not stupid, they know that they bend the law to their favor so they can make as much money as possible, take note that i don't support aggressive regulations, but these centralized exchanges are also shady, even to their own customers.

[martinex]

If Binance had complied with regulators do you think they would have pleaded guilty and settled for a plea deal when they had a case with the U.S. doj, do you also think their founder and former ceo would have pleaded guilty, cooperated with law enforcement just to get only 4 months in jail. They are not stupid, they know that they bend the law to their favor so they can make as much money as possible, take note that i don't support aggressive regulations, but these centralized exchanges are also shady, even to their own customers.

The best decision is not to keep our money in any exchange if we want the long term but even so there are other considerations that I see they still care more or less about their users' funds and what they have done has certainly been recognized and Binance has also paid a fine of $ 4.3 billion to the US Department of Justice.

[Antotena]

This case could have broader implications for the crypto market in Europe. If regulators impose heavy penalties or new restrictions, it might discourage other exchanges from operating in the region. Investors and traders should watch how this unfolds as it could impact liquidity, trading options and even the regulatory stance of other jurisdictions watching the EU's approach

I don't think this is really a problem, as they used to say where there is no law, there is no sim isn't it. Evevy country that allow crypto to grow in their country are there for the money and if they say do this and you think you can't allow it, kindly exit the space and look for other places where your service will be allow, don't allow one county to turn you to monthly or yearly pay check, this is what Binance has refused to adhere to and it's hunting them everytime.

Recently, Binance was accused of my country currency manipulation and they even went as far as arresting one of their Africa representatives, it took the retaliation of the US before the guy was release because my country is know for abuse of rule of law. There are other countries that are worse than my country with detectors that do what they want when they are in power, this is what Binance need to start looking and stop looking for that money that will kill them.

[mindrust]

Governments are like parasites. They are the secret partners of all the companies in the world and they have never invested a penny in them. The govs tax their earnings and make more money than the actual corporations. If the business owners don’t cooperate, the gov doesn’t let them do any business. I believe even the mafia is more fair than the governments at this point.

This system has come to an end. I wish I knew a way to avoid my taxes without going to prison but then I also know lots of people tried to outsmart these assholes and failed.

[Kemarit]

There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.

With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.

And if I'm not mistaken, same with India, but they were able to come back by paying fines, they have been ban for 7 months, but they paid a small amount of $86 million tax demand for the Indian government.

But it could be very different in EU though and just like Meta, the cost could be in the billions just like what the OP says.

As far as I know, Binance started implementing MiCA stablecoins rules for their European customers, but I think it's not enough for European regulators.

I just found out that Binance paid such a small amount in India (thanks to you), considering it’s one of the biggest markets with the largest population.

Looks like Binance only settles legal issues in countries where they think they can maximize their profits. In the Philippines, for example, they haven’t paid anything to the government, yet users can still access the exchange using a DNS bypass.

So it seems like they only comply when it’s absolutely necessary for their business interests.

Or maybe the Philippine government is not asking that much money on Binance? And then the government itself insist that they should comply with the regulatory framework that they have set, but until now Binance can't or won't and so they can't comeback.

Although, obviously it will affect Philippine crypto users as it is one of the biggest in that region. But there are other options as they have local exchanges as well and that could be a t good trade-off for the locals. But the signal though for other non local crypto exchange to comply first as they will be the next one.

[Distinctin]

Or maybe the Philippine government is not asking that much money on Binance? And then the government itself insist that they should comply with the regulatory framework that they have set, but until now Binance can't or won't and so they can't comeback.

Yeah, they haven’t reached that level yet. They just want Binance to follow the rules, but Binance doesn’t seem to think it’s necessary since traders in the Philippines can still access the platform without any issues . Maybe if the Philippines government forces Binance to pay a penalty, then the exchange might finally take it seriously. With plenty of potential cases piling up against Binance, they might eventually get the hint on what to do so they could force Binance to pay the penalty, so its something we have to look upon.

Although, obviously it will affect Philippine crypto users as it is one of the biggest in that region. But there are other options as they have local exchanges as well and that could be a t good trade-off for the locals. But the signal though for other non local crypto exchange to comply first as they will be the next one.

People love Binance over local exchanges, it's like everyone's favorite candy. Even though some local platforms have all the official licenses from the SEC and the Central Bank, Binance still wins over more Filipino users.