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Changpeng ‘CZ’ Zhao, CEO of beleaguered crypto exchange Binance, has described clear regulations as critical for growth of the virtual asset industry in an open letter this week.
The Cayman Islands Monetary Authority announced that the Binance Group and Binance Holdings Limited are not registered, licensed, regulated or otherwise authorised to operate a crypto-currency exchange from or within the Cayman Islands.
The Financial Conduct Authority has warned that Binance is not allowed to offer regulated services in the UK.
Crypto exchange Binance is suing Forbes and two of its journalists for defamation, after the business magazine published an article on 29 Oct. based on a leaked document.