Binance returns to the Malaysian market

Binance returns to the Malaysian market

The world’s largest cryptocurrency exchange, Binance, ran into big problems last year. It was forced to shut down services to traders in several countries under pressure from supervisory authorities.

This year, Binance suspended operations in Israel as local authorities demanded that it enforce their anti-money laundering laws.

Instead, the company was able to return to the Malaysian market, which it left last summer also under pressure from local authorities.

Binance acquired a stake in MX Global, a cryptocurrency company registered in the country as a digital services provider. The Securities Commission of Malaysia granted the company a license as part of industry regulation legislation.

Binance will now try to gain a foothold in this market, where investment in cryptocurrencies has increased significantly, said Changpeng Zhao, the exchange’s CEO.

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Written by Renat
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