Binance determined the application was not necessary “when assessing [its] global needs.” The move is unrelated to the exchange’s legal settlement in the U.S.
Binance founder and former CEO Changpeng Zhao must remain in the U.S. until he is sentenced next February, a federal judge ruled Thursday.
A federal judge accepted Binance founder Changpeng “CZ” Zhao’s guilty plea to one count of violating the Bank Secrecy Act, but has not yet weighed in on whether Zhao can go back to the United Arab Emirates before he is sentenced in February.
The AEUR-USDT trading pair hit a $3.25 high Tuesday afternoon before Binance suspended trading with the token.
In his first public interview since getting the job last month after founder Changpeng “CZ” Zhao was formed to step down amid a $4.3 billion legal settlement with the U.S. government, Teng said Binance’s compliance systems were inadequate in the past and that mistakes were made. But Teng, who has held senior positions at Binance for several years, refused to give answers about the company’s governance.
The suit, filed in the District Court of the Southern District of California, alleges that Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance.”
Binance said it will end support for its BUSD stablecoin on Dec. 15, following the exchange’s August announcement that it would “gradually” do so after Paxos, the company that actually issued it, was ordered to stop minting the coin in February.
The regulator is also seeking to have the platform blocked in the country.
Coinbase CEO Brian Armstrong says the industry can finally close the chapter of bad actors after the recent settlement between Binance and the U.S. Department of Justice.
The former BitMEX CEO said the record-breaking penalties against Binance represent an institutional bias against the transformative impact of cryptocurrency and blockchain technology.