Binance, the world’s largest cryptocurrency trade, has reached 150 million registered customers on its platform. This new milestone comes as contemporary air, particularly because the trade has confronted international regulatory scrutiny prior to now few months.
This announcement got here from CEO Changpeng Zhao (CZ), who talked about the feat alongside different developments made by the corporate because the begin of this week.
Binance Hits 150 Million Registered Customers, CZ Proclaims
On Thursday, August 3, Zhao posted that the cryptocurrency trade had reached 150 million registered customers. This represents a 30 million enhance within the trade’s consumer base, which stood at 120 million in July 2022.
This achievement comes following Binance’s re-entry into Japan earlier this week. On Tuesday, August 1, the corporate disclosed that the newly-launched trade will supply spot buying and selling of 34 crypto property, together with Bitcoin, Ether, and its native BNB token.
As well as, Binance secured an operational minimal viable product (MVP) license in Dubai on July 31, 2023. This license formally permits the crypto trade to function and supply digital asset broker-dealer providers within the emirate.
With these developments, Binance continues to strengthen its place as the most important cryptocurrency trade on the planet. As of this writing, the trade holds roughly 65% of the market share in spot buying and selling volumes.
Supply: The Block
An Overview Of Binance’s Regulatory Troubles In 2023Â
These feats could also be spectacular, particularly contemplating the regulatory challenges Binance has confronted in current months. A brand new report emerged on Wednesday, August 2, claiming that the U.S. Division of Justice (DOJ) has been exploring the potential of bringing fraud expenses towards the cryptocurrency trade.
Based on the sources quoted within the report, the DOJ has solely shunned submitting fraud expenses towards Binance on account of concern of triggering a “financial institution run.” Because of this, the authorities are contemplating different choices, equivalent to fines or an settlement with the crypto firm.
Binance is being investigated by different regulatory our bodies in america, together with the Securities and Trade Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC).Â
In March, the CFTC sued Binance and CEO Zhao for allegedly working an “unlawful” trade and a “sham” compliance. In the meantime, the SEC filed a lawsuit towards the cryptocurrency trade in June for allegedly violating securities regulation.Â
Moreover, Binance has been dealing with regulatory stress in numerous international locations outdoors america, together with France, Australia, and Germany.Â
The crypto trade not too long ago withdrew its software for a crypto license in Germany after regulators reportedly mentioned it gained’t grant the request.Â
BNBUSDT buying and selling at $241.5 | day by day BNBUSDT chart from TradingView
Featured picture from Binance.com, chart from TradingView
