The post Binance’s New CEO Faces First Critical Regulatory Stress Test appeared on BitcoinEthereumNews.com.

Cover image via youtu.be Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The hurdles facing Binance exchange are far from over as the new Chief Executive Officer (CEO) Richard Teng has been slammed with two new regulatory crackdowns outside of the United States. As reported by Reuters, the Philippines’ Securities and Exchange Commission (SEC) has started the process of reviewing the exchange’s permission to operate in the country, drawing on allegations that it is operating illegally. Per the report, the Filipino regulator has asked Google and Meta platforms to block advertisements to the trading platform. It has also warned those marketing the exchange to residents in the country to desist, as they may be held criminally liable. Over the past two years, Binance made definite attempts to stay on the good side of market regulators, doggedly fighting to meet regulatory compliance under its founder and former CEO, Changpeng “CZ” Zhao. The tables turned last week when the United States Department of Justice (DOJ) fined the trading platform $4.3 billion to settle its pending probe into its alleged regulatory violations. With Richard Teng defining the next phase of the firm’s compliance push, this regulatory crackdown from the Philippines is the CEO’s first stress test. Binance might face more crackdowns Binance is navigating uncharted territory at this time, as it seeks to find its balance. While not so defined, the exchange has lost significant…

---

Filed under: News - @ November 30, 2023 6:08 pm