{"id":113428,"date":"2023-06-24T17:06:05","date_gmt":"2023-06-24T17:06:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/what-binances-regulatory-hiccups-mean-for-bnbs-future-crypto-news\/"},"modified":"2023-06-24T17:06:07","modified_gmt":"2023-06-24T17:06:07","slug":"what-binances-regulatory-hiccups-mean-for-bnbs-future-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/what-binances-regulatory-hiccups-mean-for-bnbs-future-crypto-news\/","title":{"rendered":"What Binance&#8217;s regulatory hiccups mean for BNB&#8217;s future\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both; display: block; float: none;\"\/><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The<\/span><em><span style=\"font-weight: 400;\">  The FSMA in Belgium has recently instructed Binance to stop providing services in the country.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">BNB continued to gain ground as traders bet on future price rises.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">According to recent developments, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/binance\" data-wpel-link=\"internal\">Binance [BNB]<\/a>  has reached a crossroads in Belgium, facing potential withdrawal due to new government regulations.  As pressure continues to mount on the world&#8217;s largest exchange, what consequences will this have on BNB?<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">How much are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-bnb-to-usd\" data-wpel-link=\"internal\">1,10,100 BNBs worth today<\/a>,<\/p>\n<hr\/>\n<h4><b>The Binance conundrum in Belgium<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Belgium&#8217;s leading regulatory authority, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fsma.be\/en\/news\/fsma-orders-binance-cease-immediately-all-offers-virtual-currency-services-belgium\" data-wpel-link=\"external\">Financial Services and Markets Authority<\/a> (FSMA) has delivered a firm order on the cryptocurrency exchange.  It demanded an immediate halt to its services for local customers, per its official statement released on 23 June. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It further stated that Binance had been engaged in providing exchange services between virtual currencies and legal currencies, as well as custody wallet services, from non-European Economic Area countries. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the regulators, these services offered by Binance violated existing prohibitions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Interestingly, this recent development echoed a previous incident faced by the exchange earlier this month. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/binance-bids-farewell-to-this-country-in-the-face-of-regulatory-obstacles\/\" data-wpel-link=\"internal\">Binance<\/a> had made a similar announcement regarding suspending its services in the Netherlands and Cyprus, also part of the European Economic Area. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, there were whispers of potential <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/crypto-exchange-binance-issues-statement-on-investigations-in-france\/\" data-wpel-link=\"internal\">investigations by French authorities<\/a> into Binance&#8217;s operations.  Although, it was quickly clarified that these were merely routine visits to the exchange&#8217;s premises.<\/span><\/p>\n<h4><b>BNB reacting to recent developments?<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A closer look at the daily timeframe chart for Binance Coin showed that June had been challenging for the cryptocurrency.  There has been a significant decline in its value, accompanied by the emergence of a death cross during the same period. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/why-bnbs-troubles-will-remain-despite-greenfield-update\/\" data-wpel-link=\"internal\">bnb<\/a> was trading around $248.6, reflecting a modest increase of over 1.6%.  However, despite the positive movement, the overall trend remained bearish.<\/span><\/p>\n<div id=\"attachment_322742\" style=\"width: 1501px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BNBUSD_2023-06-24_06-56-24.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-322742\" class=\"wp-image-322742 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BNBUSD_2023-06-24_06-56-24.png\" alt=\"Binance BNB\/USD price movement\" width=\"1491\" height=\"678\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BNBUSD_2023-06-24_06-56-24.png 1491w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BNBUSD_2023-06-24_06-56-24-300x136.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BNBUSD_2023-06-24_06-56-24-1024x466.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BNBUSD_2023-06-24_06-56-24-768x349.png 768w\" sizes=\"auto, (max-width: 1491px) 100vw, 1491px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-322742\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Additionally, the Moving Average Convergence Divergence (MACD) indicator was positioned above zero at press time, showing a positive trend.  However, the broader trend was still bearish. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This sentiment was further supported by the Relative Strength Index (RSI), which remained below 40, suggesting a bearish outlook for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/bnb-bears-forced-to-retreat-as-prices-climb-past-250\/\" data-wpel-link=\"internal\">bnb<\/a>,  The RSI line hovered just above 40, implying a lack of strong bullish momentum.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, the long Moving Average (blue line) served as a price resistance level at around $299.  This level previously served as a support zone before BNB&#8217;s decline.<\/span><\/p>\n<h4><b>BNB sentiment remains positive<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Despite the downward trend in BNB&#8217;s price, there appeared to be a positive sentiment surrounding it, as indicated by data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/BNB\" data-wpel-link=\"external\">CoinGlass<\/a>,  The funding rate statistics revealed that BNB had consistently maintained a positive funding rate across several exchanges. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, the funding rate remained positive, implying that traders were anticipating a potential increase in the coin&#8217;s price in the future.<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">Is your portfolio green?  Check out the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/binancecoin-profit-calculator\" data-wpel-link=\"internal\">BNB Profit Calculator<\/a><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">The funding rate revealed market sentiment among traders.  A positive funding rate suggests that more traders place long positions or buy BNB contracts, indicating a bullish outlook.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The situation surrounding Binance remains fluid as it navigates through these regulatory challenges.  The exchange&#8217;s future in Belgium hangs in the balance, and its response to these directives will undoubtedly have ramifications for its operations and possibly BNB.<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The The FSMA in Belgium has recently instructed Binance to stop providing services in the country. BNB continued to gain ground as traders bet on future price rises. According to recent developments, Binance [BNB] has reached a crossroads in Belgium, facing potential withdrawal due to new government regulations. As pressure continues to mount on the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":113429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-113428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/113428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=113428"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/113428\/revisions"}],"predecessor-version":[{"id":113430,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/113428\/revisions\/113430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/113429"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=113428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=113428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=113428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}