Connect with us

Business

Binance boss Richard Teng says re-entering US market a ‘premature discussion’

Published

on

Binance’s Head of Regional Markets, Richard Teng, has labeled recent discussions about the exchange’s potential return to the U.S. market as “premature.” Speaking during an event on Nov. 21, Teng emphasized that Binance’s primary focus remains on navigating global regulatory challenges and strengthening its operations in existing markets. His comments come amid heightened scrutiny of Binance’s U.S. business activities, following legal and regulatory setbacks.

The exchange’s U.S. affiliate, Binance.US, has faced significant regulatory pressures, including lawsuits from the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). These issues have led Binance to scale back its operations in the U.S., with the company recently withdrawing several services to comply with local regulations. Teng clarified that any discussions about re-expanding into the U.S. would depend on achieving regulatory clarity.

Despite the challenges in the U.S., Binance continues to grow its presence in other regions, focusing on jurisdictions with well-defined regulatory frameworks. The company has recently secured licenses in various countries, including Dubai and Kazakhstan, as part of its strategy to operate as a compliant global exchange. Teng highlighted Binance’s commitment to working closely with regulators to build trust and ensure sustainable growth.

The speculation around Binance’s U.S. market plans reflects the ongoing uncertainty in the crypto regulatory landscape. Analysts believe the exchange’s cautious approach signals its intention to prioritize compliance over aggressive expansion. As Binance navigates these complexities, the industry will be closely watching its moves, which could influence broader discussions on crypto regulation and market dynamics.

Business

US lawmakers advance anti-CBDC bill

Published

on

U.S. lawmakers have voted to advance a bill aimed at blocking the Federal Reserve from issuing a central bank digital currency (CBDC), marking a major step in the political pushback against the development of a digital dollar.

The bill, which passed through the House Financial Services Committee, would prohibit the Fed from directly offering accounts or issuing a CBDC to individuals, citing concerns over surveillance, privacy, and government overreach.

Supporters of the legislation argue that a digital dollar could pose significant risks to civil liberties, enabling real-time tracking of consumer transactions and expanding federal control over personal finances. They view the bill as a safeguard against what they describe as a “surveillance-style” monetary system.

Opponents of the bill, however, argue that restricting CBDC development could hinder U.S. innovation and global competitiveness in the evolving digital financial landscape.

The legislation now moves closer to a potential floor vote in Congress. Its progress underscores growing ideological divisions over the future of money in the United States, with CBDCs emerging as a new front in the broader debate over digital governance, financial freedom, and the role of government in the digital age.

Continue Reading

Business

Gemini to open Miami office after judge stays SEC case

Published

on

Crypto exchange Gemini has opened a new office in Miami, reinforcing its commitment to expanding operations despite pausing its plans for an initial public offering (IPO) amid a continuing legal battle with the U.S. Securities and Exchange Commission (SEC).

The Miami office signals the company’s long-term vision for growth in key U.S. markets, even as regulatory uncertainty clouds the broader crypto landscape. The expansion comes at a time when Gemini is facing heightened scrutiny from the SEC over its Earn program, which the regulator alleges involved unregistered securities.

While the IPO remains on hold, Gemini continues to strengthen its infrastructure and team, focusing on user growth, compliance, and regional outreach. The Miami hub is expected to play a strategic role in those efforts, leveraging the city’s growing status as a U.S. crypto hotspot.

Co-founders Cameron and Tyler Winklevoss remain vocal about the need for clear regulatory frameworks and have emphasized that Gemini will continue to fight for fair treatment while building responsibly in the U.S. and abroad.

Continue Reading

Business

Coinbase Institutional files for XRP futures trading with CFTC

Published

on

Coinbase Institutional has officially filed with the U.S. Commodity Futures Trading Commission (CFTC) to offer XRP futures trading, marking a significant move toward expanding institutional access to Ripple’s native token.

The filing, submitted through Coinbase Derivatives, signals the exchange’s intent to list XRP futures contracts in a regulated environment. If approved, it would allow institutional investors to gain exposure to XRP through derivative products, a key step in broadening the token’s presence in traditional financial markets.

This development comes amid a gradually improving regulatory climate for XRP, following a partial legal victory for Ripple in its ongoing case with the U.S. Securities and Exchange Commission (SEC). The outcome gave XRP a degree of legal clarity, opening the door for exchanges and financial institutions to re-engage with the asset.

Coinbase’s push to expand its derivatives offerings also aligns with its strategy to build a more robust institutional platform. Approval from the CFTC would position the exchange to capitalize on growing demand for regulated crypto investment vehicles.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk