: Crypto exchange Binance pulls back some potential investments in the U.S., as regulatory pressure mounts


Changpeng Zhao, chief executive at the world’s largest crypto exchange Binance, said on Twitter Friday that the company “pulled back on some potential investments, or bids on bankrupt companies in the U.S.” Zhao’s tweet came after Bloomberg reported that Binance was considering ending its relationship with its U.S. partners and considering delisting tokens from any U.S.-based projects. A Binance spokesperson wrote to MarketWatch that “like every other blockchain company, we are conducting a careful cost-benefit analysis and will pivot our business as necessary to protect our global user base.” U.S. regulators appear to bring increased scrutiny to the crypto industry. Stablecoin issuer Paxos said earlier this week that it would stop minting new BUSD, a dollar-pegged cryptocurrency managed by Paxos and branded by Binance, following an order by the New York State Department of Financial Services requiring that minting cease. Paxos also recently received a Wells notice from the U.S. Securities and Exchange Commission that warned the stablecoin issuer it could face an enforcement action. Meanwhile, Binance has temporarily suspended deposits and withdrawals of U.S. dollars via bank accounts since Feb. 8. Binance targets non-U.S. customers while Binance.US., a smaller exchange claimed to be independent, wrote to MarketWatch that it doesn’t have any plans to leave the U.S..

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleIn One Chart: As Nikki Haley announces her presidential run, here are the potential 2024 Republican contenders
Next articleThe Big Move: I will leave my daughter my house, but she doesn’t want to take over my $250,000 mortgage. Should she rent the house, or just sell it?


Please enter your comment!
Please enter your name here