London Daily

Focus on the big picture.
Wednesday, Mar 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
British Airways Suspends UK Repatriation Flights as Middle East Travel Disruption Deepens
US Forces Prepare Ordnance at RAF Fairford as Strategic Bombers Deploy for Middle East Operations
Nigel Farage Faces Criticism After Saying Britain Should Stay Out of Iran War
Landmark UK Trial Begins Over Sony’s PlayStation Store Pricing
UK High Court Rejects Bid to Challenge Britain’s Chagos Islands Agreement With Mauritius
Finnish Duo Triumphs in England’s Annual Wife-Carrying Race, Winning a Barrel of Ale
How U.S. and UK National Security Strategies Are Reshaping the Global Business Landscape
Green Party Gains Momentum as Labour Shifts Toward the Political Centre
Royal Navy Destroyer HMS Dragon Sets Sail for Eastern Mediterranean as Regional Tensions Rise
UK Homebuilder Persimmon Warns Iran Conflict Could Dent Property Buyer Confidence
Roman Abramovich Signals Legal Fight if UK Seeks to Seize Chelsea Sale Funds
UK Ready to Back Emergency Oil Reserve Release as Middle East Conflict Pushes Prices Higher
Study of 40,000 Articles Sparks Debate Over Alleged Anti-Muslim Bias in UK Media
US and UK Army Chiefs Strengthen Cooperation on the Future of Armored Warfare
Britain’s Search for the Next ARM Intensifies as Startups and Investors Target the Semiconductor Frontier
Three US Strategic Bombers Arrive at RAF Fairford as Iran Conflict Intensifies
Cancer Death Rates in the UK Fall to the Lowest Level on Record
UK Government Bond Yields Retreat Slightly After Sharp Spike Triggered by Middle East Conflict
UK Chancellor Warns Middle East War Could Push Inflation Higher
UK Prime Minister Warns Iran Conflict Could Drive Up Prices and Threaten Economic Stability
Trump Declines UK Offer to Deploy Aircraft Carriers to Middle East Amid Iran Conflict
Prince Harry and Meghan Markle to Return to Australia After Seven Years for Philanthropic and Business Engagements
UK Government Signals Independence From Washington as Cooper Says Britain Does Not Agree With Trump on Every Issue
UK Experts Warn AI Chatbots Are Fueling Surge in Claims of Organised ‘Satanic’ Ritual Abuse
UK Political Parties Divided Over Strategy as Iran Conflict Reshapes Foreign Policy Debate
Britain Discloses Secret Military Repair Hubs Operating Inside Ukraine
Trump Says US No Longer Needs UK Carrier Support After Delayed Offer Amid Iran Conflict
Why Britain Has Become Involved in the US-Israel Military Campaign Against Iran
UK Gas Storage Falls to Under Two Days as Iran Conflict Jolts Global Energy Markets
UK Warned to Brace for Economic Shock as Iran War Drives Global Energy Price Surge
Starmer and Trump Hold First Call After Public Dispute Over Iran Conflict
UK Dentists Returned £1.3 Billion to Government as Shift Toward Private Care Accelerates
Expert Warns UK Must Build Emergency Food Stockpiles to Prepare for Climate Shocks or War
UK Plans Charter Flight to Evacuate British Nationals from Gulf as Regional Conflict Disrupts Air Travel
Families of Zimbabwe’s Liberation Fighters Call on Britain to Help Locate Skulls Taken During Colonial War
Iran’s Ambassador Warns Britain to ‘Be Very Careful’ Over Deeper Role in Expanding Middle East War
UK Military Leadership Defends Britain’s Defensive Role in Expanding Middle East Conflict
Four U.S. Strategic Bombers Arrive in Britain as Iran War Intensifies
Soham Murderer Ian Huntley Dies After Violent Attack in High-Security Prison
UK Lawmakers and Experts Condemn Scale of Overseas Human Remains Held in British Museums
Royal Navy Aircraft Carrier HMS Prince of Wales Placed on Standby for Potential Deployment
United Kingdom Confirms U.S. Military Using British Bases for Operations Targeting Iranian Missile Sites
Starmer Defends UK Role in Iran Conflict After Renewed Criticism from President Trump
Blue Owl Reveals £36 Million Exposure After Collapse of UK Lender Serving Wealthy Clients
UK Asylum Reform Plan Triggers Fierce Debate Over Border Control and Humanitarian Impact
US Stealth Bombers Head to UK Base as Trump Issues Stark Warning to Iran
UK Deputy Prime Minister Says Legal Case Could Exist for British Strikes on Iranian Missile Sites
Investigators Link Mysterious Parcel Fires Across Europe to Russian Intelligence Operation
Debate Intensifies Over Britain’s Legal Justification for US Military Operations Launched From UK Bases
Britain Faces Heightened Energy Price Risks as Iran-Linked Tensions Threaten Global Oil and Gas Supplies
×