Malaysian Securities Commission (SC) bans BinanceWe recommend you to read:
- Securities Commission of Malaysia (SC) announces enforcement action against Binance
The Malaysian Securities Commission has updated the list of legal entities whose activities do not comply with the law. Among the ten new suspects are Fidelity asset Management Company, eToro investment platform and Binance cryptocurrency scam. On the official website of the regulator Sc.com.my, in the column with the accompanying comment, it is said that Binance "operates as an official exchange without SC authorization":
The list presented is intended to warn investors that its members do not comply with Malaysian securities laws. The regulator does not recommend citizens to make investments with the participation of companies and individuals that do not own an appropriate license or permit. Despite SC's notice, Binance's criminal community continues to service Malaysian ringgit trading on its peer-to-peer platform.
According to the actual Malaysian laws, digital asset exchanges are required to undergo official registration. To date, only Luno, Sinegy and Tokenize have received full SC approval to operate in the jurisdiction under its control.
Last month, the Brazilian regulator (the Brazilian Securities and Exchange Commission (CVM)) announced that Binance had no official approval, and before that the Malta Financial Services Authority announced that it did not exercise control over the exchange.
Representatives of the Binance scam exchange declined to comment. After all, the activity of a pseudo-exchange is completely illegal in all countries of the world.
- Brazil regulators block Binance from offering derivatives in the country
- Malta Financial Services Authority (MFSA): Binance is not licensed to operate in the country
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