During the US trading session, there is a bullish outlook for Bitcoin's price prediction as BTC has rebounded from the support level of $23,300. Bitcoin's price has been on a rollercoaster ride over the past few days, with significant price surges followed by steep drops.
Binance, which has the most trades of any cryptocurrency exchange, is reportedly thinking about breaking ties with its US business partners. According to a recent report from Bloomberg, Binance is contemplating delisting tokens from any firms based in the United States due to the Securities Exchange Commission's (SEC) recent regulatory crackdown.
Since the SEC is paying more attention to the crypto industry, Binance is one of several exchanges reviewing its policies and procedures to ensure they meet regulatory requirements.
After the Securities and Exchange Commission (SEC) said that BUSD, a stablecoin tied to the US dollar, is a security and then sued crypto firm Paxos, the relationship between exchanges and the US regulatory body has become more tense and uncertain.
In light of these developments, Binance is reportedly re-evaluating its investments in the United States. While Binance is not licensed to operate in the US, it has been conducting business in the country through its subsidiary, Binance.US.
However, with regulatory pressures mounting, Binance is just one of many crypto exchanges that are now reviewing their operations and considering changes to their business models in order to remain compliant with US regulations.
In response to the allegations, Binance's CEO, Changpeng Zhao (CZ), took to Twitter to deny the claims. CZ responded to a comment on the social media platform, stating:
Binance's CEO, Changpeng Zhao, has recently been involved in
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