The $4.3 billion agreement made by Binance, the world’s largest cryptocurrency exchange, with the US government and the resignation of former CEO CZ from his position as CEO by accepting the accusations made against him are also effective in other countries.
First, the news came from Thailand. As it is known, Binance was trying to establish a crypto exchange in Thailand in partnership with Gulf Energy, the company of Thai billionaire Sarath Ratanavadi.
However, according to Bloomberg, Binance’s attempt to establish a cryptocurrency exchange in the country may face regulatory difficulties.
Speaking to Bloomberg, Thai billionaire Sarath said that he has great confidence in Binance, despite the agreement made by Binance with the USA.
“Binance has grown extremely quickly and has encountered some regulatory challenges along the way.
Despite these events, we have much more confidence in Binance’s reliability. Because this storm should make Binance much stronger. Because we chose Binance because of its market leading position.
Besides these, the Thai Securities and Exchange Commission has a very strict attitude towards cryptocurrencies. “After what happened at this point, he asked many questions, including about Binance, before approving our joint venture exchange.”
Secondly, negative news for Binance came from the Philippines.
Philippines SEC stated that Binance is actively carrying out promotional activities on social media in the country. At this point, the Philippine SEC is preparing to take action to block access to Binance in the Philippines in order to protect the public from unregistered investment products.
The Philippine SEC also stated that Binance has no right to sell or provide securities to the public.
Philippines SEC also advised Filipino investors to close their positions and withdraw their investments.
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