Metadoro: The Crypto Market is Extremely Vulnerable to Government Control
According to data from The Block, Binance controls more than 87% the total exchange volume. Binance is a dominant market player and is expanding. With the acquisition of Sakura Exchange BitCoin, Binance has taken control of the Japanese market. The exchange has now obtained its first license in Asia. Binance is also in negotiations to acquire the Indonesian Tokocrypto market, which is currently experiencing poor market conditions. It also bought a stake in Malaysia’s MX Global trading platform. Binance was allegedly operating in Japan without a license. The Japanese Financial Services Agency notified Binance in 2018. Binance also exited Japan in 2018, and received another warning in 2021 from the regulator. Binance can now operate in France, Spain, Abu Dhabi and New Zealand. The company plans to expand its operations as it has more than $1 billion in assets to bail out the troubled digital assets. The U.S. Congress is first on the list, and may approve more stringent regulations to track the activity of crypto-exchanges. SEC follows. Binance U.S. represents only a small part of Binance’s global business. Binance U.S. is only a small part of Binance’s global business. According to data from The Block, about 6% of daily trading volume in crypto market is controlled by OKX exchange. Whether Binance wins this battle will depend on the actions taken by local authorities. Any witch hunt by monetary authorities in the crypto market could lead to decentralisation of companies like Binance and a loss of trust in regulators. Any witch hunt in the crypto market by monetary authorities could lead to the decentralisation of companies, like Binance, and cause a loss of trust in regulators. Changpeng Zhao, Binance’s CEO, stated that the company was ready and able to publish proof of reserves immediately after the collapse of FTX, one the largest crypto exchanges. Changpeng Zhao continued his “Best Practices for Exchanges” on November 8 and continued with a recovery funds to support legitimate projects in distress. Kucoin, Crypto.com and Huobi also had to follow his lead and release their “proofs of reserves”. Binance’s recovery fund has been supported by all majors and they have promised to invest more in crypto startups. The company or event that can transform the crypto industry to new standards and keep it decentralised will be the market leader. This article is not intended to be used for legal, tax, financial, investment, or other advice.