<\/p>\n
Binance is \u201cconsidering our options for legal action\u201d after Checkout.com severed ties with the company on Thursday.<\/p>\n
\u201cAs of Aug. 16, 2023, Checkout.com is no longer servicing Binance as a payment service provider. There is no impact on our services and users can continue to use on-and off-ramps as usual,\u201d a Binance spokesperson told Blockworks via email.<\/p>\n
\u201cWe do not agree with Checkout\u2019s purported basis for termination and are considering our options for legal action.\u201d<\/p>\n
However, Binance<\/a> said that it will continue \u201cto collaborate with regulators and partners around the world to ensure clarity and the best services and protections for our users.\u201d<\/p>\n Binance is facing a lawsuit from the US Securities and Exchange Commission<\/a>, alleging that the exchange \u2014 alongside the US arm, Binance.US, and CEO Changpeng Zhao \u2014 operated as an unregistered exchange and offered unregistered securities.<\/p>\n The company has also reportedly faced a French investigation back in June, though Binance told Blockworks that it was just an \u201con-site visit\u2026by the relevant authorities<\/a>.\u201d<\/p>\n The crypto exchange has also exited multiple European markets<\/a>, as well as pulling its application with Germany\u2019s BaFin, citing the regulatory landscape as well as the global market.<\/p>\n It also exited the Netherlands<\/a> and Cyprus.<\/p>\n Forbes first reported the news<\/a>, citing letters seen by the publication.<\/p>\n According to reports, Binance received two letters from Checkout.com on Aug. 9 and 11 ending the relationship between the two because of regulator actions, though the second letter specifically detailed concerns about compliance, anti-money laundering and sanctions.\u00a0<\/p>\n Checkout.com did not immediately respond to a request for comment on the termination.<\/p>\n The news comes after Binance shuttered Binance Connect<\/a> on Aug. 16, claiming that the move was made due to a \u201cchanging market.\u201d<\/p>\n \u201cAt Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy,\u201d a Binance spokesperson told Blockworks.\u00a0<\/p>\n Get the day\u2019s top crypto news and insights delivered to your email every evening.\u00a0Subscribe to Blockworks\u2019 free newsletter<\/a>\u00a0now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can\u2019t-miss tweets and more from\u00a0Blockworks Research\u2019s Daily Debrief<\/a>.<\/strong><\/p>\n Can\u2019t wait? Get our news the fastest way possible.\u00a0Join us on Telegram<\/a>\u00a0and follow us on\u00a0Google News<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Binance is \u201cconsidering our options for legal action\u201d after Checkout.com severed ties with the company on Thursday. \u201cAs of Aug. 16, 2023, Checkout.com is no longer servicing Binance as a payment service provider. There is no impact on our services and users can continue to use on-and off-ramps as usual,\u201d a Binance spokesperson told Blockworks […]<\/p>\n","protected":false},"author":2,"featured_media":139355,"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-139354","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\/139354","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=139354"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139354\/revisions"}],"predecessor-version":[{"id":147759,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139354\/revisions\/147759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/139355"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=139354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=139354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=139354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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