Israel added to Binance list of global regulatory hot spots

Israel’s capital market watchdog is asking major cryptocurrency exchange Binance for clarifications on its services in the country and licenses under which it operates, local media reported Thursday.

See related article: Binance US under probe for ties with trading affiliates: report

Fast facts

• Binance has stopped all Israel-focused activities and marketing, the Globes reported, citing the market regulator.
• The Capital Market, Insurance and Savings Authority is an Israeli regulator under the Ministry of Finance in charge of financial services such as licensing of crypto exchanges.
• Binance had not responded to Forkast’s request for comment at the time of publication.
• Binance is currently dealing with regulatory hurdles in numerous regions without operating from a physical global headquarters.
• Earlier this week, the Wall Street Journal reported that Binance’s U.S. arm is under probe for its relationship with two trading firms.

See related article: Binance rebrands blockchains for metaverse, DeFi expansions