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Binance official website address:
Is Binance formal?
Home web3.0 Is the currency an official?

Is the currency an official?

Jul 29, 2025 pm 03:12 PM
Bitcoin binance cryptocurrency Binance exchange trading platform cryptocurrency trading

Whether Binance is formal needs to be judged based on the regional judgment: 1. Some countries such as France and the UAE have issued compliance licenses to Binance to allow it to operate legally; 2. The United States, the United Kingdom, Canada and other places have taken restrictive measures against Binance, which operates independently in the United States through Binance.US, and the United Kingdom has banned its services; 3. China bans cryptocurrency trading, Binance has not obtained the qualification for operation in mainland China, and is a non-compliant platform; 4. Binance is the world's largest cryptocurrency platform with strong transaction volume, with strong security but hacking incidents have occurred; 5. In 2023, Binance was fined US$4.3 billion by the United States for pre-washing and other issues, and the founder pleaded guilty and resigned; 6. Users need to pay attention to policy risks, fund security and compliance changes, and it is recommended to use decentralized storage for large assets. Therefore, Binance complies with regulations in some countries, but there are legal restrictions in many countries, including China, and users should use it with caution according to local regulations.

Is the currency an official? - php Chinese

Binance official website address:

Is Binance formal?

Binance is one of the world's largest cryptocurrency trading platforms, founded by Changpeng Zhao (CZ) in 2017. Whether it is "formal" needs to be analyzed from multiple perspectives, including regulatory compliance, operational legality, security, and market reputation.

1. Global regulation and compliance

Binance is actively seeking compliance in many countries and regions around the world, but its regulatory status varies by region:

  • Some countries recognize : countries such as France, the UAE, Bahrain and other countries have issued compliance licenses to Binance, allowing them to provide legal digital asset services.

  • Some countries restrict or prohibit : The United States, the United Kingdom, Canada, Japan and other countries have taken regulatory measures against Binance. For example, Binance has set up Binance.US separately in the United States to comply with local regulations, while the UK Financial Conduct Authority (FCA) has banned Binance from operating in the United Kingdom.

  • China Policy : China has banned cryptocurrency trading since 2017, and Binance has not obtained legal operating qualifications in mainland China, so it is a non-compliant platform in China.

2. Security and market position

Binance is leading the industry in terms of technology security and trading volume:

  • The largest trading volume : it occupies the first place in the global cryptocurrency trading market for a long time and has strong liquidity.

  • Security measures are relatively complete : multi-layer encryption, cold storage and other methods are used to protect user assets, but hacking incidents have still occurred (such as 7,000 bitcoins stolen in 2019).

  • Industry reputation dispute : Binance was investigated by many countries for pre-baptism, market manipulation and other issues. In 2023, it reached a settlement with the US Department of Justice and paid a fine of US$4.3 billion. Founder Zhao Changpeng pleaded guilty and resigned.

3. User risk warning

Although Binance is a mainstream exchange in the world, users still need to pay attention to:

  • Policy Risk : Using Binance in certain countries (such as China) may violate local regulations.

  • Fund security : There is a risk of running away or freezing in centralized exchanges. It is recommended to use decentralized storage (such as Trust Wallet) for large assets.

  • Compliance changes : Binance is still adjusting its global compliance strategy and may face more regulatory challenges in the future.

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