Binance Drama Deepens as Malaysia Alleges Illegal Operations (1)

July 30, 2021, 3:37 PM

The global regulatory crackdown on the world’s largest cryptocurrency exchange by volume has deepened, with Malaysia issuing enforcement actions for alleged illegal operations.

Binance Holdings Ltd., its Chief Executive Officer Changpeng Zhao and three affiliates have been ordered to disable Binance.com and mobile applications in the country within 14 business days from July 26, according to a statement Friday from the Securities Commission Malaysia. They should also stop media and marketing activities to Malaysia’s consumers and immediately restrict the nation’s investors from accessing Binance’s Telegram group.

Changpeng Zhao
Photographer: Akio Kon/Bloomberg

Zhao has “been specifically ordered to ensure that the above directives are carried ...

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