Binance Financial News

Crypto exchange giants Coinbase and Binance could be set to go head-to-head with their expansion plans in Brazil. The former is reportedly eyeing a major M&A deal to buy one of the biggest crypto exchange platforms in the Latin America region, while Binance has confirmed it will open its own Brazilian operations.

A number of crypto-investors, analysts, and even several governments thought that El Salvador would lead the international community in the mass adoption of Bitcoin. However, reactions have been mixed since the flagship coin was first recognized as legal tender six months ago.

The crypto play-to-earn game Axie Infinity’s native token AXS jumped in price today after major crypto exchange Binance announced new incentives for the token, and as the community prepares for the launch of the revamped game Axie Infinity: Origin set for later this month.

Binance is putting in a fresh $5 million investment in metaverse gaming startup Ultiverse after leading a $4.5 million seed investment a week earlier for the firm.

El Salvador President Nayib Bukele took to Twitter on Wednesday evening, hitting out at a Reuters report claiming Binance CEO Changpeng Zhao (CZ) was flying in to save El Salvador’s Bitcoin Bond.

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The stock market in Moscow opened again on Thursday after staying closed for a month following Russia’s invasion of Ukraine. Meanwhile, crypto trading with Russian rubles (RUB) continues to see falling volume on the largest international exchange, Binance.

El Salvador's adoption of bitcoin has been beset by public skepticism about the cryptocurrency.

After a decent improvement in the overall sentiment over the past week, Binance coin, Solana and Tezos found a close above their 4-hour 200 EMA’s. While Shiba Inu was still facing resistance at that level, its technicals flashed a bullish bias.

The cryptocurrency community has always put an emphasis on decentralization and globalization. Therefore, it shouldn’t come as a surprise that a number of crypto companies are sponsoring Formula 1 (F1) racing teams in an attempt to further connect with audiences across the world. 

The markets had a bullish tinge in recent hours as heavy bidding pumped Bitcoin to $43k. Binance Coin and much of the rest of the altcoin market followed suit and registered strong gains. Stellar Lumens and Shiba Inu had a bullish leaning as well, while ApeCoin also suggested that its market structure flipped to bullish.

Japanese cryptocurrency exchanges are reportedly moving to increase competition with foreign crypto trading platforms by planning to simplify the process of listing new cryptocurrencies.

Major US-based crypto exchange Coinbase is taking a swing at both traditional payment companies and crypto-native competitors with the introduction of Coinbase Pay. The new solution, however, differs from existing payments solutions from competitors like Binance, for example, as the former is a way to fund Coinbase's browser-based wallet with fiat, while the latter is a way for users to fund accounts with fiat and send crypto to others for free.

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Last week got off to an antsy start as the clause that many interpreted as a direct route to ban proof-of-work-(PoW)-based cryptocurrencies made a sudden comeback to the draft of the European Union’s key directive on digital assets. Many in the crypto policy space got immediate flashbacks to other instances of harmful last-minute additions to must-pass legislation days and hours before the vote. It all ended well, though, as the Committee on Economic and Monetary Affairs voted against the draft that contained the hostile language. Over in the United States, monetary policy kept growing more political, as evidenced by Sarah Bloom Raskin, President Joe Biden’s pick for the Federal Reserve’s vice chair for supervision, being forced to withdraw her nomination due to a Senate gridlock. Ukrainian President Volodymyr Zelenskyy took time off urgent matters of national defense to sign a bill granting digital assets legal status into law. Other big narratives of the week included crypto platforms’ expansion into the Gulf region, a slew of crypto-related statements and actions by members of the U.S. Congress and some favorable policy developments in Australia.

Banks on both sides of the Russia-Ukraine war are taking measures to restrict the flow of crypto funds overseas, with central banks keen to limit private citizens from making crypto-related cross-border transactions through banks.

Binance says users in Ontario restricted from using its platform - regulator

crypto exchange by trading volume, has confirmed in an undertaking to the Ontario Securities Commission (OSC) that it would stop opening new accounts for users in the Canadian province, the regulator said on Thursday. The dispute between Binance and OSC started in June last year, when the exchange announced its decision to quit Ontario after a regulatory crackdown on crypto exchanges in the province for allegedly failing to meet securities laws. However, in December, Binance notified investors that it was allowed to continue its operations in Ontario while still being unregistered in the province, the OSC said.

Binance confirmed in an undertaking to the Ontario Securities Commission, or OSC, in Canada dated Wednesday that the crypto exchange will cease activities involving Ontario residents. Binance will also stop opening new Ontario accounts, and provide fee waivers and reimbursements to certain Ontario users under the administration of a third party, the company said. 

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However, Binance later "falsely notified" investors that it was allowed to continue operating in Ontario, says the OSC.The exchange has now undertaken to stop taking on new customers and to halt trading in existing Ontario accounts "apart from certain permitted actions to protect investors". The firm will also provide fee waivers and offer fee reimbursements.The Ontario setback is one of a myriad of regulatory problems that Binance has faced around the world over the last two years.