Reports emerged that Binance Global intends to end partnerships with U.S.-based firms such as banks and terminate listing tokens linked to U.S.-based projects as regulators cast the net deeper. Binance’s CEO has refuted the claims.
CZ denies Bloomberg report
However, in a quick rejoinder to the news from Bloomberg, Binance CEO, Changpeng Zhao (CZ), has refuted the claims terming them as “false.”
If the claims by the undisclosed individual are true, Binance Holdings will follow the scripts of other companies that are escaping stiff market regulations since the fall of FTX.
In December, Nexo Inc declared intentions of removing its products from the U.S. market following orders of resistance and desist from many states.
The aggressiveness of the U.S. authorities will continue to claim more causality as the intensity increases.
The shake-up in Binance
Holders of the largest crypto exchange contemplate repealing relationships with major financial partners in the U.S. to cool the heat from deep inspection from authorities.
An insider noted that Commodity Futures Trading Commission, Internal Revenue Service, Securities and Exchange Commission, Justice Department, and the Internal Revenue Service are on Binance’s radar.
“The company is looking for possible ways of ending ties with US-based firms, especially banking and service entities…Delisting of tokens such as the USDC stablecoin is on the table,” acknowledged the undisclosed person.
Unnamed Binance source.
The source said Binance Holdings has no authority to serve U.S. customers. On the other hand, Binance.US, a smaller exchange, will continue its services in the U.S. as it claims to work independently from Binance Holdings.
