Binance, one of the largest crypto exchanges, ordered to stop operations in Malaysia

Malaysia's Securities Commission stated that Binance was operating an "illegal digital asset exchange"


Alfred Lee

2 Aug, 2021

Binance, one of the largest crypto exchanges, ordered to stop operations in Malaysia | BEAMSTART News

- From our Sponsors -

Binance, one of the largest cryptocurrency exchanges in the world, has been ordered to cease operations in Malaysia under the grounds of "illegally operating a digital asset exchange".

Under the order by Malaysia's Securities Commission, Binance has been given until 9th August to halt all of its operations within the country.

"With immediate effect, users from these countries will not be able to open new futures or derivatives products accounts," the company said.

Why It Matters

  • Binance is currently the largest cryptocurrency exchange in the world, valued at over $86 billion.
  • The company will be required to disable both its mobile app and website to visitors from Malaysia by 9th August.
  • Malaysian account holders with Binance have also been instructed to withdraw all their earnings/holdings before the stipulated date.
  • Earlier last year, Binance blocked the ability for Malaysian card holders to wire money in and out of their accounts on their platform.

- From our Sponsors -

Latest Jobs

VP of GTM Strategy and Revenue Operations

TRM Labs

Full Time

USD 200000 — USD 220000 yearly

Full-Stack Engineer

BLISSWAY

Colorado,

Full Time

Salary Undisclosed

Senior Recruiter (U.S. - remote)

authzed

Full Time

USD 110000 — USD 135000 yearly

Software Engineer (Product, Design)

Coast

New York,

Full Time

USD 140000 — USD 200000 yearly

Product Intern (6 months)

Hypotenuse AI

Internship

Salary Undisclosed

AI Engineer

Fathom

Full Time

USD 130000 — USD 160000 yearly

Full Stack Engineer (India)

VectorShift

Full Time

USD 20000 — USD 30000 yearly

UX Product Designer

just words

California,

Contract

USD 50000 — USD 100000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).