Reuters
Binance US finally rolls out mobile payments service to US customers
United States crypto exchange Binance US has finally rolled out its Binance Pay service — some 22 months after the feature was launched by the global exchange to its customers outside the U.S. in 2021. The service, which had a beta version rolled out globally in Feb. 2021 for peer-to-peer payments which was expanded to include merchant transactions on Mar. 12, allows mobile users of the Binance app to instantly transact nearly 150 supported cryptocurrencies without fees. A Dec.13 blog post from Binance US clarifies that Pay transactions will feature zero gas or transaction fees, and notes that the app is currently only available on mobile as it prepares to introduce a web version “which will arrive in the near future.” Meanwhile, amid the recent FUD against Binance global, Binance CEO...
New allegations arise regarding Binance’s regulatory framework
On Oct. 17, a new report published by Reuters alleged that cryptocurrency exchange Binance “swerved scrutiny” from regulators in the United Kingdom and the United States. The main spearhead of the allegations arises from two supposed incidents in its operating history. First, Reuters wrote of Binance strategy executive Zoe Wei’s proposal to backdate a service agreement relating to various operations between Binance’s U.K. unit and Binance’s Cayman Islands holding company on March 11, 2020. The move allegedly allowed Binance to exempt itself from registration with the country’s Financial Conduct Authority for one year, as any firm operating before January 10, 2020, could do so before new regulations came into place. Second, Reuters reported that Harry Zhou, a Binance-affiliated entrep...
BNB price risks 40% drop as SEC launches probe against Binance
Binance Coin (BNB) price dropped by nearly 7.3% on June 7 to below $275, its lowest level in three weeks. What’s more, BNB price could drop by another 25%–40% in 2022 as its parent firm, Binance, faces allegations of breaking securities rules and laundering billions of dollars in illicit funds for criminals. Bad news twice in a row BNB was issued as a part of an initial coin offering (ICO) in 2017 that amassed $15 million for Binance. The token mainly behaves as a utility asset within the Binance ecosystem, primarily enabling traders to earn discounts on their trading activities. Simultaneously, BNB also functions as a speculative financial asset, which has made it the fifth-largest cryptocurrency by market capitalization. BNB market capitalization was $45.42 billion as of June ...
Reuters: Binance was withholding information from regulators, repeatedly shunned own compliance department
In a report published on Friday, Reuters laid out the findings of its investigation into the regulatory compliance practices of Binance, the world’s largest cryptocurrency exchange by trading volume. The authors suggest the existence of a recurring pattern whereby the company’s CEO Changpeng Zhao, while proclaiming its openness to government oversight, ran an organization that systematically denied regulators’ requests for financial and corporate structure information and shirked proper client background checks. The reported findings are based on the accounts of Binance’s former senior employees and advisers, as well as the review of documents such as internal correspondence and confidential messages between several national regulators and the company. According to the document, several hi...
UK police seize $249.5 million worth of cryptocurrency
The British police on Tuesday said they have seized £180 million ($249.5 million) of an undisclosed cryptocurrency, as part of a money laundering investigation launched against organised crime groups that moved into cryptocurrencies in order to clean their money. The latest seizure happened in less than three weeks after the London police made a £114 million haul on June 24 as part of its money laundering investigation. By this, a cryptocurrency payload totalling £294 million ($408 million) has been reportedly seized so far under the money laundering investigation. “While cash still remains king in the criminal world, as digital platforms develop we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money,” Reuters quoted Graham McNulty, a metropolitan P...
Cuba blames unrest on U.S. interference as Joe Biden backs protests
Cuba blamed historic protests that took place over the weekend on U.S. “economic asphyxiation” and social media campaigns by a minority of U.S.-financed counter-revolutionaries, while U.S. President Joe Biden said he stood with the Cuban people. The streets of Havana were quiet on Monday, although there was a heavy police presence. Outages in mobile internet – the only way many Cubans have of accessing the web – were frequent. Chanting “freedom” and calling for President Miguel Diaz-Canel to step down, thousands of Cubans joined street protests here from Havana to Santiago on Sunday in the biggest anti-government demonstrations on the Communist-run island in decades. At least 80 protesters, activists, and independent journalists had been detained nationwide since Sunday, according to exile...
White House does not rule out Haiti request for U.S. troops
The United States is still reviewing a request for troops made by Haiti’s interim Prime Minister Claude Joseph to help secure key infrastructure after the assassination of President Jovenel Moise, White House spokesperson Jen Psaki said on Monday. Psaki said Haiti’s political leadership remains unclear and that it was vital for the country’s leaders to come together to chart a united path forward. Moise was shot dead early on Wednesday at his Port-au-Prince home by what Haitian authorities describe as a unit of assassins formed of 26 Colombians and two Haitian Americans. Haitian police said on Sunday they had arrested another key suspect. The death of the president has plunged the troubled country into deeper turmoil, and U.S. officials traveled there on Sunday to assess the situation and ...
Pentagon: US team going to Haiti to assess needs
A team of U.S. security and law enforcement experts is traveling to Haiti to determine what assistance Washington can provide following the assassination of the Haitian president last week, the Pentagon said on Sunday. “Today, an inter-agency team largely from the Department of Homeland Security and the FBI are heading down to Haiti right now to see what we can to do help in the investigative process,” Pentagon spokesman John Kirby told “Fox News Sunday.” “That’s really where our energies are best applied right now – in helping them get their arms around investigating this incident and figuring out who’s culpable … and how best to hold them accountable,” Kirby said in the interview. President Joe Biden will be briefed by the team when it returns and “then make decisions about the way forwa...
Leaked testimony from Haiti suspects says plan was to arrest, not kill president
A group of Colombians and Haitian Americans suspected of assassinating Haitian President Jovenel Moise told investigators they were there to arrest him, not kill him, the Miami Herald and a person familiar with the matter said on Sunday. Moise was shot dead early on Wednesday at his Port-au-Prince home by what Haitian authorities say was a unit of assassins made up of 26 Colombians and two Haitian Americans, plunging the troubled Caribbean nation into deeper turmoil. The murder and uncertainty about who hatched the plot is the latest in a succession of blows to hit the struggling country, which has appealed for international help. Washington has so far rebuffed Haiti’s request for troops, though a senior U.S. official said on Sunday that Washington was sending a technical team to assess th...
South Africa extends tight coronavirus restrictions for another 14 days
South Africa extended tight COVID-19 rules on Sunday for another 14 days, maintaining restrictions that include a ban on gatherings, a curfew from 9 p.m. to 4 a.m. and a prohibition on the sale of alcohol. The country, the worst-hit on the African continent in terms of recorded cases and deaths, is in the grip of a third wave of infections driven by the more infectious Delta coronavirus variant. “Our health system countrywide remains under pressure,” President Cyril Ramaphosa said in a televised address to the nation. Early this month South Africa recorded a new record of over 26,000 daily cases, stretching hospitals to breaking point. Ramaphosa moved the country to the fourth level of a five-tier restriction scale in late June as infections climbed, promising to review the restrictions af...
Majority of Brazilians support impeaching President Bolsonaro, poll shows
For the first time, a majority of Brazilians support impeaching President Jair Bolsonaro, according to a poll released on Saturday, as serious graft allegations related to vaccine procurement hit the right-wing leader’s already battered image. According to the survey by Datafolha, 54% of Brazilians support a proposed move by the country’s lower house to open impeachment proceedings against Bolsonaro, while 42% oppose it. In the last Datafolha survey on the issue, released in May, supporters and opponents of impeachment were essentially tied. In a separate Datafolha poll, released on Thursday, 51% of Brazilians said they disapproved of Bolsonaro, the highest figure since he took office in January 2019. In recent weeks, Brasilia has been rocked by allegations that federal officials solicited...
Lithuania begins building barrier on border with Belarus to block migrants
Lithuania began building a barrier along its border with Belarus on Friday after accusing Belarusian authorities of flying in migrants from abroad to send illegally into the European Union. The first stretch of barrier will run 500 metres (1,640 feet) in length, measure 1.8 metres (six feet) in height and consist of concertina and razor wire, the army defence chief’s spokeswoman Ruta Montvile told Reuters. Belarus in May decided to allow migrants to enter EU member Lithuania in retaliation for sanctions imposed by the bloc after Minsk forced a Ryanair flight to land on its soil and arrested a dissident blogger who was on board. “If someone thinks we will close our border with Poland, Lithuania, Latvia and Ukraine and will become a holding site for those running from Afghanistan, Iran, Iraq...
