Binance is considered illegal in Malaysia

Suba

Staff member
Satoshi
13,109
Crypto exchange Binance is considered to be operating illegally in Malaysia, even though it is not physically present in the country. This was conveyed directly by the Malaysian Securities Commission, Friday, July 17, 2020.

The Malaysian Securities Commission said that Binance violated its securities laws and the Securities Commission immediately blacklisted Binance in the country and advised investors not to use the crypto asset buy-sell platform.
Under the law in Malaysia Binance does not have any license. Therefore, managers are threatened with fines of 10 million ringgit or imprisonment for 10 years or both.
 

eannan

Staff member
Satoshi
32,024
Malaysia as a country has got serious issues with crypto and very relunctant in accepting it as a mode of payment due to its volatility.
 

gelop

New member
Satoshi
-13
In my opinion, Binance as a cryptocurrency exchange platform for the convenience of functionality is the best, not to mention the volume of sales. This in turn means that prices are fair.
 
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