London Daily

Focus on the big picture.
Tuesday, Aug 11, 2026

Crackdown on Binance spreads

Crackdown on Binance spreads

The global regulatory crackdown on the world’s largest cryptocurrency exchange has deepened, with Malaysia issuing enforcement actions for alleged illegal operations.
Binance, its CEO 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 issued by Securities Commission Malaysia.

They should also stop media and marketing activities to Malaysian consumers and immediately restrict the country’s investors from accessing Binance’s Telegram group, according to the order.

Zhao has “been specifically ordered to ensure that the above directives are carried out”, the statement said.

A Binance representative told Bloomberg News that the company is aware of the notice, while adding that Binance.com does not operate out of Malaysia.

“Binance takes a collaborative approach in working with regulators in navigating this emerging industry and we take our compliance obligations very seriously,” the representative said in an email.

Separately, the company announced on Friday that it plans to wind down its futures and derivatives products offerings in Germany, Italy and the Netherlands. Users from those countries can no longer open accounts for such products. At one point, the firm will give people in those countries 90 days to close open positions, it said.

This week, the company said it was preparing to change its structure from a nebulous one with no headquarters that has helped it grow so quickly, to one with regional bases that will be focused on compliance and aim for licenses in many countries. But that appears not to have have stopped the onslaught from regulators.

India’s anti-money laundering agency is examining if Binance had a role to play in an ongoing investigation involving betting apps, Bloomberg News reported earlier Friday, citing people with knowledge of the matter.

That comes in addition to investigations from several US agencies as well as actions or investigations from the likes of Thailand, the UK and Italy.

The Thai Securities and Exchange Commission on July 2 filed a criminal complaint against Binance for illegally operating a digital asset business without a licence under the Digital Asset Businesses Decree.

Rival exchanges have been quick to swoop in as they sense an opportunity to take business from Binance.

“An underappreciated aspect of the most recent crypto bull market is that it has brought a generation of investors who see regulatory compliance as a must-have,” said Gary Worrall, CEO of Crypto Facilities, a regulated derivatives exchange in Europe. “Crypto is no longer just a Wild West.”
Newsletter

Related Articles

0:00
0:00
Close
Donald Trump Warns FIFA Against Ousting Gianni Infantino Amid Revolt by Global Football Leaders
Jeff Bezos Joins Investor Group Closing In on $6 Billion Liverpool FC Stake
UK Councils to Receive Sweeping Planning Powers to Ban New Vape and Betting Shops
Former Labour Adviser Arrested on Suspicion of Spying for China Held Privileged Access as Top Party Donor
Turkish Parliament Passes Landmark Bill Granting Conditional Amnesty to Disarmed PKK Members
Nicola Sturgeon Says She Has No Contact With Estranged Husband After SNP Embezzlement Case
Police Arrest Two Men After Aberdeenshire Defense Technology Office Break-In
Greater Manchester Councils Gain Powers to Restrict New Vape and Betting Shops
Coroner Finds Treasury Workplace Failures Contributed to Personal Assistant’s Suicide
English and Welsh Courts Ban Meta Smart Glasses Over Recording and Privacy Risks
Strait of Hormuz Disruption Could Double UK Inflation and Trigger Recession, Forecasters Warn
UK Expands Global Talent Visa Scheme to Support Research-Intensive Companies
UK Equity Funds Suffer Record One Point Six Billion Pound Outflow Amid Capital Gains Tax Fears
Three-Quarters of England Enters Drought as Fifth Summer Heatwave Raises Economic Risks
UK Hiring Stabilizes for First Time Since 2022 as Employers Adjust to Higher Payroll Costs
UK Chancellor Orders Whitehall Spending Cuts as Public Debt Exceeds Three Trillion Pounds
UK Manufacturing Output Records Fourth Straight Month of Growth
UK Condemns Russian Torture of Ukrainian Prisoners and Recruitment of Foreign Nationals
Long-Lost Royal Navy Warship HMS Tiger Found in English Channel After 118 Years
Northern Ireland Finance Minister Seeks Urgent Treasury Talks Over Regional Budget Pressures
UK Government Targets Subscription Traps and Misleading Discounts in New Consumer Rules
Alleged Cartel Boss Daniel Kinahan Extradited From Dubai to Face Criminal Charges
AI Chatbots Challenge Traditional News Consumption and Raise Job Concerns
Andy Burnham Government Promises Crackdown on Exploitative Business Practices
UK University Funding Model Faces Growing Pressure From Unsustainable Student Debt
Government Urged to Subsidise Energy Bills for Vulnerable UK Households
UK Military Spending Plans Threaten to Deepen Infrastructure Funding Gap
Israeli Government Rejects US Peace Framework for Gaza
New Labour Government Signals Closer Economic and Strategic Ties With European Union
Amber Heat-Health Alerts Issued Across England as Temperatures Threaten 36 Degrees
UK Economy Expected to Grow Despite Energy and Supply Chain Shock From Iran Conflict
Foreign Social Media Accounts Drove Disinformation During Belfast and Southampton Riots
Record Number of Migrants Cross English Channel in Single Vessel as Smugglers Deploy Mega-Dinghies
Russia’s A7 Builds a State-Linked Payments Network Beyond Western Sanctions
Reports of Mark Zuckerberg-Linked Superyacht Declining Rescue Assistance Draw Maritime Scrutiny
Preserving Three Banksy Artworks in London Has Cost Taxpayers Nearly £150,000
Four Ugandan Athletes Disappear From Delegation After UK Sporting Events
French Authorities Report Channel Interventions as Cross-Border Migration Dispute Continues
Home Office Admits Error in Settled Status Case Involving Long-Term Italian Resident
Unite Calls for Independent Review of UK Budget Watchdog's Fiscal Forecasting Rules
Thinktank Calls for £175 Annual Energy Bill Cut for Low-Income Households
Foreign-Linked Social Media Accounts Amplified Recent Unrest in Belfast and Southampton, Analysis Finds
London Mayor Sadiq Khan Orders Westminster to Drop Proposed Soho and West End Hospitality Ban
Royal Navy Deployments to Monitor Russian Activity in UK Waters Rise 25 Percent
UK Economy Expected to Grow 0.4 Percent in Second Quarter Despite Geopolitical Pressures
Andy Burnham Launches Cost-of-Living Measures Targeting Subscription Traps and Misleading Discounts
Hyper-Realistic Reborn Dolls Draw Collectors Seeking Comfort and Craft
Gen Z Cuts Back on Dating as a Night Out Nears $200
Patients Turn to Artificial Intelligence for Therapy as Psychiatrists Warn of Privacy and Clinical Risks
Couples Embrace ‘Sleep Divorce’ to Protect Rest and Reduce Tension
×