The best decision is not to keep our money in any exchange if we want the long term but even so there are other considerations that I see they still care more or less about their users' funds and what they have done has certainly been recognized and Binance has also paid a fine of $ 4.3 billion to the US Department of Justice.
No exchange can care for their customers funds as much as you'll care for your funds if you store it yourself in your self custodial wallet. Do not be like those people who believe that some exchanges are too big to fail and they go on to trust them to hold their funds for them, if you do that you may be part of the next victim of the next crypto exchange hack. 
Topic: Looks like every country now are milking binance... (Read 620 times)
If Binance won't agree and pay for settle ment and exchange data and o the government, wouldn't it be good for you when your country ban Binance? Your data will be safer in Binance, your government won't be watching you.
But according to some users they still could use Binance after it was banned in their country. Because they are able to use the app on the phone bypassing the country's ban hammer.
Maybe each countries want to get their own share and got amazed on how much money settlement gotten by US to them. For context people could read this here https://www.justice.gov/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution
If they can sue Binance to and force them to pay huge amount then this is beneficial to them. To bad that Binance experiencing this situation and I guess this might be the reason of their Bankruptcy.
Don't know how long they can get over with those cases they get and hopefully we will not see Binance will collapsed due to this situation.
If they can sue Binance to and force them to pay huge amount then this is beneficial to them. To bad that Binance experiencing this situation and I guess this might be the reason of their Bankruptcy.
Don't know how long they can get over with those cases they get and hopefully we will not see Binance will collapsed due to this situation.
I disagree. I believe that Binance have committed so much fraud that they will be sued and penalized by every country until they collapse or are forced out of most countries that do not support them (once they run out of the budget to pay the fines). There's no doubt that budget would be quite large, but it won't last forever if the fines are anywhere near the size that the US gave...not to mention if CZ is able to remain out of custody as a result of all of the new cases too, if they're suing for times where he was the head of the exchange.
I disagree. I believe that Binance have committed so much fraud that they will be sued and penalized by every country until they collapse or are forced out of most countries that do not support them (once they run out of the budget to pay the fines). There's no doubt that budget would be quite large, but it won't last forever if the fines are anywhere near the size that the US gave...not to mention if CZ is able to remain out of custody as a result of all of the new cases too, if they're suing for times where he was the head of the exchange.
Collapse? I don't think the lawsuits and the fines will get them to that level; they will always find a favourable way to settle with the countries that will come up with any lawsuits against them for the crimes which they have committed in the past, which they could either come to a mutual agreement that will benefit them both, or they will have to leave the country market for peace to reign.Binance has a lot of dark and dirty secrets. How do you think that they made it to the top? With on-chain analysis only getting better and more accurate, more of the dirty secrets will be uncovered, and those dirty secrets span across many, many countries. Even that aside, the charges in the US set precedent for every other country to seek "remuneration" as well for any perceived damages that they had done or enabled. The fine spree probably won't stop, and no firm (no matter how large) can sustain fines in the multi millions, even billions of dollars. Not even Binance. Especially in the event of a market crash as well.
I disagree. I believe that Binance have committed so much fraud that they will be sued and penalized by every country until they collapse or are forced out of most countries that do not support them (once they run out of the budget to pay the fines). There's no doubt that budget would be quite large, but it won't last forever if the fines are anywhere near the size that the US gave...not to mention if CZ is able to remain out of custody as a result of all of the new cases too, if they're suing for times where he was the head of the exchange.
This attack could have even been worse if the former CEO were in power, since he has handed over the new administration and might have to wave some things since they were not the ones given commands.It makes no difference if he is no longer in power if the charges are for actions that were conducted while he was in power. The change in administration was only to protect Binance going forward, it doesn't protec them for things in the past.
I disagree. I believe that Binance have committed so much fraud that they will be sued and penalized by every country until they collapse or are forced out of most countries that do not support them (once they run out of the budget to pay the fines). There's no doubt that budget would be quite large, but it won't last forever if the fines are anywhere near the size that the US gave...not to mention if CZ is able to remain out of custody as a result of all of the new cases too, if they're suing for times where he was the head of the exchange.
Collapse? I don't think the lawsuits and the fines will get them to that level; they will always find a favourable way to settle with the countries that will come up with any lawsuits against them for the crimes which they have committed in the past, which they could either come to a mutual agreement that will benefit them both, or they will have to leave the country market for peace to reign. This attack could have even been worse if the former CEO were in power, since he has handed over the new administration and might have to wave some things since they were not the ones given commands. 
Sometimes the goal is not milking binance but forcing them to fully cooperate in all data and exchange it with governments such as customer data or their tax returns and other data useful to governments.
Judicial levels of a million or several million dollars will not be a problem for binance but many fines may force them to leave the market.
This is what I think when the title said milking binance but I'd say it is kinda the same as what you are saying. In my opinion, this would be like I'll milk the shit out of you as much as I can if you don't cooperate with us. If you did cooperate with us then it's a win-win for us where you can continue your services in our country with no more problems, issues or whatsoever. Judicial levels of a million or several million dollars will not be a problem for binance but many fines may force them to leave the market.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Crypto laws in most countries are too complicated and complex that it will become very difficult to obey. Sometimes it is assumed by some crypto industry players that these laws are designed not just to protect citizens from fraud but to milk them through fines. The laws are also targeted at making these firms to be fully under the surveillance of the government. If they keep on using Binance as a cash cow, the exchange might soon declare bankruptcy and customers' funds will be in danger. Let's see how the investigation will end.No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Maybe each countries want to get their own share and got amazed on how much money settlement gotten by US to them. For context people could read this here https://www.justice.gov/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution
If they can sue Binance to and force them to pay huge amount then this is beneficial to them. To bad that Binance experiencing this situation and I guess this might be the reason of their Bankruptcy.
Don't know how long they can get over with those cases they get and hopefully we will not see Binance will collapsed due to this situation.
If they can sue Binance to and force them to pay huge amount then this is beneficial to them. To bad that Binance experiencing this situation and I guess this might be the reason of their Bankruptcy.
Don't know how long they can get over with those cases they get and hopefully we will not see Binance will collapsed due to this situation.
I disagree. I believe that Binance have committed so much fraud that they will be sued and penalized by every country until they collapse or are forced out of most countries that do not support them (once they run out of the budget to pay the fines). There's no doubt that budget would be quite large, but it won't last forever if the fines are anywhere near the size that the US gave...not to mention if CZ is able to remain out of custody as a result of all of the new cases too, if they're suing for times where he was the head of the exchange.
You are right op, because something like this happened in my country some years back, that made the government agencies to arrest some of the top binance officials for not following due process in the country and they are still investigating binance to know the people that make use of the exchange in the country. Once this country succeed to get massive money from binance in this investigation, other countries will follow the same step to raise the same issues against binance in their country and binance official will agree for their demand when they find positive results from the investigation because they want crypto users to be using their exchange to trade BTC and crypto.
If there’s really a valid crime so why not arrest and fine them? There’s always a due process that involves thorough investigation and evidence finding to prove the case. Binance can escape the trial unharmed if they really don’t do wrong and just operate properly.
The thing is Binance has a lot of malicious actions which is proven when CZ was jailed and step down as CEO.
Even on my country this exchange doesn’t have license to operate here yet they are still accepting residents here despite the ban.
It looks like we'll see a similar setup as in the US. When it comes to issues like money laundering, exchanges tend to settle with penalties especially if there’s no intentional wrongdoing. What I'm noticing here is just a lack of proper implementation of policies in these jurisdictions. Probably, it's because Bitcoin wasn't that popular before, so the laws weren't enforced as strictly, but then, ignorance of the law is not an excuse, so Binance will have to face the consequences of their actions.
This is not the first time for binance and previously also experienced problems like what happened in the US. It is not wrong with some statements that indeed it was like a extortion that Segaja was carried out and I tend to see this in a small perspective because for a exchange of binance it is impossible for them to ignore the applicable legal rules, unless it is deliberately anchoring in previous mistakes to get money from them. Even if it will be said to be guilty, the legal process can be a reference as a strength in completion.In fact, permits in each country are different and even tighten the licensing process so that people do not feel deceived by the stock exchange. But for problems in Binance it might no longer talk about fraud caused by the company itself because indeed they have become a big exchange so that doing something like that is impossible.
You are right op, because something like this happened in my country some years back, that made the government agencies to arrest some of the top binance officials for not following due process in the country and they are still investigating binance to know the people that make use of the exchange in the country. Once this country succeed to get massive money from binance in this investigation, other countries will follow the same step to raise the same issues against binance in their country and binance official will agree for their demand when they find positive results from the investigation because they want crypto users to be using their exchange to trade BTC and crypto.
If the french government agencies are not careful, they will not achieve positive result from the investigation because some top government officials use to be involved in binance exchange, and it will be difficult for them to allow thorough investigation to be done because they know it will expose so many things that will make them to lose their government job.
If the french government agencies are not careful, they will not achieve positive result from the investigation because some top government officials use to be involved in binance exchange, and it will be difficult for them to allow thorough investigation to be done because they know it will expose so many things that will make them to lose their government job.
in the recent news, "French investigators open fraud probe against crypto platform Binance"..
https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Permits in each country are different; many countries agree because of tax revenues or the kindness of the people, so that they are not deceived by investments that ensure the security of their money. Therefore, many countries are considering licensing exchanges, such as Binance. The United States, for instance, continues to tighten regulations on exchanges and investigate matters that are important for its citizens, ensuring they are not involved in money laundering cases and, of course, that it is safe for everyone there. https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
Quote
The investigation is examining the period from 2019 to 2024, involving offences committed in France but also in all European Union countries, JUNALCO said.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
It's sad to see that, there was almost none regulation in 2019, in France and Europe, so I don't really understand what they are looking for to be honest.
That's why people say they're milking Binance because they're digging up old transactions and finding new ways to make money. Sometimes the government is pretty clever too. They don't rush in; they wait until an exchange gets big before they start enforcing the law.
Binance's response to this probe will be crucial in determining its long term strategy in Europe. If they opt for a settlement, it could signal a shift toward stricter compliance measures, possibly influencing how other crypto firms structure their operations. However, if they challenge the accusations, it could lead to prolonged legal battles that disrupt their service in key European markets.
This isn't the first time binance has faced regulatory challenges but the EU wide scope of this investigation makes it unique. Previous settlements in the US have shown that authorities are willing to impose multi billion dollar fines rather than shutting down operations entirely. The outcome of this case could determine whether similar enforcement strategies will be adopted by European regulators in the future
Investigations and lawsuits like this would immediately disappear if Blackrock or any US financial institution held a majority stake in Binance, IMO.
honestly agreed with this opinion.if binance really want to be free from all these problem CZ should reduce that shares, but I guess he won't, the fact that he still holds 90% means he's making sure to keep all those share.
but we'll see how binance gonna face many lawsuits across various country, what I know is that, they got many subsidiary local exchange in many country where they can't operate. maybe they gonna do the same thing to more countries.
It's sad to see that, there was almost none regulation in 2019, in France and Europe, so I don't really understand what they are looking for to be honest.
That's why people say they're milking Binance because they're digging up old transactions and finding new ways to make money. Sometimes the government is pretty clever too. They don't rush in; they wait until an exchange gets big before they start enforcing the law.
Then, the reference should be their current laws or policies or the policies within that period. They should look at the applicability of the penalty. Binance have their lawyers so of course, they would not just nod or accept whatever is thrown to them. Definitely, they are also thinking not only these authorities.
Right now, this article outlined the countries which are accepting binance and those countries which banned binance. I can say, binance offers a lot of financial services where you can't easily access from traditional banking method. Just like the fixed and flexible savings - even with small amount, you can already participate in this financial service.
Binance’s Supported and Banned Countries in 2024
There is always a bargaining chip on the table and if the case is not in the realm of criminal violations then there will be a possible agreement for both parties to settle. In my country, we also used to face regulatory problems but slowly it was resolved because of the good intentions of Binance in resolving the problem. We know that all of this is nothing more than a matter of money and sometimes it is not only about money but there are other motives as an effort to cooperate that is desired.
In the end we will see them trying to offer cooperation because there are many benefits that can be obtained through the exchange and that is exactly what makes policies to smooth their steps as an effort to gain profit from the company as has happened before for several countries regarding the exchange.
In the end we will see them trying to offer cooperation because there are many benefits that can be obtained through the exchange and that is exactly what makes policies to smooth their steps as an effort to gain profit from the company as has happened before for several countries regarding the exchange.
It looks like we'll see a similar setup as in the US. When it comes to issues like money laundering, exchanges tend to settle with penalties especially if there’s no intentional wrongdoing. What I'm noticing here is just a lack of proper implementation of policies in these jurisdictions. Probably, it's because Bitcoin wasn't that popular before, so the laws weren't enforced as strictly, but then, ignorance of the law is not an excuse, so Binance will have to face the consequences of their actions.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
There is always a bargaining chip on the table and if the case is not in the realm of criminal violations then there will be a possible agreement for both parties to settle. In my country, we also used to face regulatory problems but slowly it was resolved because of the good intentions of Binance in resolving the problem. We know that all of this is nothing more than a matter of money and sometimes it is not only about money but there are other motives as an effort to cooperate that is desired.No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
In the end we will see them trying to offer cooperation because there are many benefits that can be obtained through the exchange and that is exactly what makes policies to smooth their steps as an effort to gain profit from the company as has happened before for several countries regarding the exchange.
It's sad to see that, there was almost none regulation in 2019, in France and Europe, so I don't really understand what they are looking for to be honest.
binance become too big now it's attracting attention of governments, but at least this will give a legal framework for other exchange to work with as to not unknowingly break the law and ended up in the state in which binance is in right now.but pretty much binance is a really big company so its existence alone will attract attention, but as OP described, and I do have the same opinion as well, it will end in settlement.
I don't expect it will affect binance that much but it's always better to keep our money in our own wallet.
Although Binance is still the largest exchange on the market but their market share has dropped significantly since being sued and fined by the US Department of Justice. If I remember correctly their market share has dropped from 70% to 46%, they are not as big as before.
One thing that people have overlooked is that even though CZ is no longer the CEO, but he still holds over 90% of Binance's shares and there are rumors that many forces want CZ to sell his shares back to them. I think this is why Binance was constantly targeted by US and European government agencies, and this only ended when CZ sold most of his shares.
Investigations and lawsuits like this would immediately disappear if Blackrock or any US financial institution held a majority stake in Binance, IMO.
Why should we even care about a big crypto company? To me, the big crypto companies are no different than the big fiat banks.
If Binance did something against the French law, they should pay the fines and move on. The year is 2025. Why so many people are still using centralized exchanges? Probably the main reason is convenience, but at the same time, I've seen many negative reviews about Binance on Trustpilot. Many people hate that platform, but at the same time, millions of crypto users are actively trading on Binance.
Anyway, I couldn't care less about Binance and it's problems.
If Binance did something against the French law, they should pay the fines and move on. The year is 2025. Why so many people are still using centralized exchanges? Probably the main reason is convenience, but at the same time, I've seen many negative reviews about Binance on Trustpilot. Many people hate that platform, but at the same time, millions of crypto users are actively trading on Binance.
Anyway, I couldn't care less about Binance and it's problems.
It's sad to see that, there was almost none regulation in 2019, in France and Europe, so I don't really understand what they are looking for to be honest.
That's why people say they're milking Binance because they're digging up old transactions and finding new ways to make money. Sometimes the government is pretty clever too. They don't rush in; they wait until an exchange gets big before they start enforcing the law.
It's sad to see that, there was almost none regulation in 2019, in France and Europe, so I don't really understand what they are looking for to be honest.
binance become too big now it's attracting attention of governments, but at least this will give a legal framework for other exchange to work with as to not unknowingly break the law and ended up in the state in which binance is in right now.but pretty much binance is a really big company so its existence alone will attract attention, but as OP described, and I do have the same opinion as well, it will end in settlement.
I don't expect it will affect binance that much but it's always better to keep our money in our own wallet.
Or maybe the Philippine government is not asking that much money on Binance? And then the government itself insist that they should comply with the regulatory framework that they have set, but until now Binance can't or won't and so they can't comeback.
Although, obviously it will affect Philippine crypto users as it is one of the biggest in that region. But there are other options as they have local exchanges as well and that could be a t good trade-off for the locals. But the signal though for other non local crypto exchange to comply first as they will be the next one.
People love Binance over local exchanges, it's like everyone's favorite candy. Even though some local platforms have all the official licenses from the SEC and the Central Bank, Binance still wins over more Filipino users.
There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
And if I'm not mistaken, same with India, but they were able to come back by paying fines, they have been ban for 7 months, but they paid a small amount of $86 million tax demand for the Indian government.
But it could be very different in EU though and just like Meta, the cost could be in the billions just like what the OP says.
As far as I know, Binance started implementing MiCA stablecoins rules for their European customers, but I think it's not enough for European regulators.
I just found out that Binance paid such a small amount in India (thanks to you), considering it’s one of the biggest markets with the largest population.
Looks like Binance only settles legal issues in countries where they think they can maximize their profits. In the Philippines, for example, they haven’t paid anything to the government, yet users can still access the exchange using a DNS bypass.
So it seems like they only comply when it’s absolutely necessary for their business interests.
Or maybe the Philippine government is not asking that much money on Binance? And then the government itself insist that they should comply with the regulatory framework that they have set, but until now Binance can't or won't and so they can't comeback.
Although, obviously it will affect Philippine crypto users as it is one of the biggest in that region. But there are other options as they have local exchanges as well and that could be a t good trade-off for the locals. But the signal though for other non local crypto exchange to comply first as they will be the next one.
Governments are like parasites. They are the secret partners of all the companies in the world and they have never invested a penny in them. The govs tax their earnings and make more money than the actual corporations. If the business owners don’t cooperate, the gov doesn’t let them do any business. I believe even the mafia is more fair than the governments at this point.
This system has come to an end. I wish I knew a way to avoid my taxes without going to prison but then I also know lots of people tried to outsmart these assholes and failed.
This system has come to an end. I wish I knew a way to avoid my taxes without going to prison but then I also know lots of people tried to outsmart these assholes and failed.
This case could have broader implications for the crypto market in Europe. If regulators impose heavy penalties or new restrictions, it might discourage other exchanges from operating in the region. Investors and traders should watch how this unfolds as it could impact liquidity, trading options and even the regulatory stance of other jurisdictions watching the EU's approach
I don't think this is really a problem, as they used to say where there is no law, there is no sim isn't it. Evevy country that allow crypto to grow in their country are there for the money and if they say do this and you think you can't allow it, kindly exit the space and look for other places where your service will be allow, don't allow one county to turn you to monthly or yearly pay check, this is what Binance has refused to adhere to and it's hunting them everytime.
Recently, Binance was accused of my country currency manipulation and they even went as far as arresting one of their Africa representatives, it took the retaliation of the US before the guy was release because my country is know for abuse of rule of law. There are other countries that are worse than my country with detectors that do what they want when they are in power, this is what Binance need to start looking and stop looking for that money that will kill them.
If Binance had complied with regulators do you think they would have pleaded guilty and settled for a plea deal when they had a case with the U.S. doj, do you also think their founder and former ceo would have pleaded guilty, cooperated with law enforcement just to get only 4 months in jail. They are not stupid, they know that they bend the law to their favor so they can make as much money as possible, take note that i don't support aggressive regulations, but these centralized exchanges are also shady, even to their own customers.
The best decision is not to keep our money in any exchange if we want the long term but even so there are other considerations that I see they still care more or less about their users' funds and what they have done has certainly been recognized and Binance has also paid a fine of $ 4.3 billion to the US Department of Justice.
They are that saying about compliance of Binance but its pretty obvious that they are really that trying out to milk some money.
If Binance had complied with regulators do you think they would have pleaded guilty and settled for a plea deal when they had a case with the U.S. doj, do you also think their founder and former ceo would have pleaded guilty, cooperated with law enforcement just to get only 4 months in jail. They are not stupid, they know that they bend the law to their favor so they can make as much money as possible, take note that i don't support aggressive regulations, but these centralized exchanges are also shady, even to their own customers. 
in the recent news, "French investigators open fraud probe against crypto platform Binance"..
https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Whenever there's someone who do able to make up that huge money about throwing out some cases or whatever that it is really that correlated into it then this is where we have seen that US did successfully be able to have that money as Binance did make out such settlement and for those other countries do sees out that kind of chance or probabilities then this is why they will really be that trying out to do the same step and this is why they are making out such step but we dont know if this one will really be that working out or not but its true that Binance could be able to easily be able to pass through considering about their financial capacity.https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
Quote
The investigation is examining the period from 2019 to 2024, involving offences committed in France but also in all European Union countries, JUNALCO said.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Its no surprise that they will really be trying out to milk out because if those allegations wont really be that enough or couldnt be able to prove out then it will really be just that simply be forgotten and find out another some issues and happens again and again. Here in our country which Binance is really that already banned and cant be able to access through their website but when it comes to apps then its still accessible. They are that saying about compliance of Binance but its pretty obvious that they are really that trying out to milk some money.
All this country is trying to do to milk Binance comes a bit too late; after the US fined them and won the case against them, they have been facing lawsuit after lawsuit and fine after fine from different regulators.All this could be linked to them entering the market of a particular country without following the due process, and the milking could be the other way round, as they (Binance) have been the ones enjoying benefits from the citizens of most countries without properly remitting taxes accordingly. Just as HugeBlack said, they could indirectly be dragging them to come and do the right thing; if you don't force most of these companies, they will always be taking advantage of privileges.
They got to this point where they are a big exchange and have many resources because of the trusted services they offer. This may also be the very reason why they are being targeted by a lot of countries’ governments. They know that if they can’t beat binance they might as well go and take advantage of the exchange.
What do you mean by 'beat Binance', lol, binance is a centralized exchange and they have to comply with regulators, if they do not want to comply with the regulations in a particular jurisdiction, then they shouldn't offer their services in such places. If you also want to talk about 'taking advantage', then what about binance that takes advantage of their customers with high fees, especially if they want to withdraw BTC. Binance does whatever it can to make money, they even knowingly break rules for that purpose, so they have to answer when the law comes knocking.
Everybody tries to get the most out of the least, so it's no wonder there is a power play here and there to make Binance comply / change things up.
I do agree with your points
They got to this point where they are a big exchange and have many resources because of the trusted services they offer. This may also be the very reason why they are being targeted by a lot of countries’ governments. They know that if they can’t beat binance they might as well go and take advantage of the exchange.
What do you mean by 'beat Binance', lol, binance is a centralized exchange and they have to comply with regulators, if they do not want to comply with the regulations in a particular jurisdiction, then they shouldn't offer their services in such places. If you also want to talk about 'taking advantage', then what about binance that takes advantage of their customers with high fees, especially if they want to withdraw BTC. Binance does whatever it can to make money, they even knowingly break rules for that purpose, so they have to answer when the law comes knocking.
There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
There are many countries where Binance is banned because of different reasons. In my country (Pakistan), government has issued warnings on use of crypto exchanges like Binance because scammers are using P2P trading feature of Binance to cash out the money.
There is interesting post from theymos that tells what exactly is digital exchange and why we must not put our Bitcoins there. Reminder: do not keep your money in online accounts. What happens if your country ban Binance or Binance freeze your account because of violations of there terms and conditions, your all funds are lost forever. Think before you put your funds in Binance, it's full of risk.
"milking binance..." (x!X) I'm serious, it's a very encouraging phrase with one of the exchanges that 'squeezes' the most with fees, so, more than for service to users because it is the "most popular" CEX option, at in point I suppose that something related to MICA could also exist here, in any case it is a centralized Exchange, what is the problem with supervising it.
It's the biggest one to "milk" so to speak
The rest would be smaller to try the same things out, with lesser rewards for it.
Its a good thing that they are a monstrous exchange and have the resources to back up all of these legal battles they have been getting into with |CZ and the SEC and now the French / EU.
They got to this point where they are a big exchange and have many resources because of the trusted services they offer. This may also be the very reason why they are being targeted by a lot of countries’ governments. They know that if they can’t beat binance they might as well go and take advantage of the exchange. Quote
I wonder if the string will continue and every government will bandwagon on this, hang on Binance lol.
For the sake of everyone, I hope not lol. But I wouldn’t be surprised especially if other countries see how much binance can do.
This case could have broader implications for the crypto market in Europe. If regulators impose heavy penalties or new restrictions, it might discourage other exchanges from operating in the region. Investors and traders should watch how this unfolds as it could impact liquidity, trading options and even the regulatory stance of other jurisdictions watching the EU's approach
Sometimes the goal is not milking binance but forcing them to fully cooperate in all data and exchange it with governments such as customer data or their tax returns and other data useful to governments.
Judicial levels of a million or several million dollars will not be a problem for binance but many fines may force them to leave the market.
Judicial levels of a million or several million dollars will not be a problem for binance but many fines may force them to leave the market.
Agreed.
It's about the data probably.
We've seen many cases already personal and not about the same dilemma or question per se, the one you described in your post. And as time goes on, there wouldn't be less of such cases.
There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
And if I'm not mistaken, same with India, but they were able to come back by paying fines, they have been ban for 7 months, but they paid a small amount of $86 million tax demand for the Indian government.
But it could be very different in EU though and just like Meta, the cost could be in the billions just like what the OP says.
As far as I know, Binance started implementing MiCA stablecoins rules for their European customers, but I think it's not enough for European regulators.
I just found out that Binance paid such a small amount in India (thanks to you), considering it’s one of the biggest markets with the largest population.
Looks like Binance only settles legal issues in countries where they think they can maximize their profits. In the Philippines, for example, they haven’t paid anything to the government, yet users can still access the exchange using a DNS bypass.
So it seems like they only comply when it’s absolutely necessary for their business interests.
"milking binance..." (x!X) I'm serious, it's a very encouraging phrase with one of the exchanges that 'squeezes' the most with fees, so, more than for service to users because it is the "most popular" CEX option, at in point I suppose that something related to MICA could also exist here, in any case it is a centralized Exchange, what is the problem with supervising it.
Its a good thing that they are a monstrous exchange and have the resources to back up all of these legal battles they have been getting into with |CZ and the SEC and now the French / EU. I wonder if the string will continue and every government will bandwagon on this, hang on Binance lol.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
in my country also, they investigated binance but at the end binance was banned the reason was because of unregistered securities but i doubt france will do the sameQuote
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
of course no jail time as they most likely will not find something completely illegal but only offenses that may not comply with their regulations they would probably just look for loopholes to penalize them 
There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
Binance is already banned in my country in West-Africa and even before then, some of their executives were jailed for a period of time. I can't tell if they made any payment or not because at some point there was a mention that they government had asked them to pay some money. Binance was like one of the first crypto exchanges and they moved into countries to start operating without doing their homework very well. Now they have to "pay for their sins". With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
It's sad to see that, there was almost none regulation in 2019, in France and Europe, so I don't really understand what they are looking for to be honest.
There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
And if I'm not mistaken, same with India, but they were able to come back by paying fines, they have been ban for 7 months, but they paid a small amount of $86 million tax demand for the Indian government.
But it could be very different in EU though and just like Meta, the cost could be in the billions just like what the OP says.
As far as I know, Binance started implementing MiCA stablecoins rules for their European customers, but I think it's not enough for European regulators.
They want to milk Binanace or Binanace is milking from their citizens? The exchanges wants to provide crypto products and services to as many countries as possible. That means they should be ready for more issues from the government of each countries. If not because some countries do not mind, Binance has a lot of money that it should have paid.
I will not be surprised if Binance is guilty after the investigation.
I will not be surprised if Binance is guilty after the investigation.
Since they’re investigating past transactions, it’s pretty obvious that they’ll uncover a lot of violations. If I’m not mistaken, Binance was already found guilty in the U.S. for similar issues in their past operations. So for sure, their operations in other countries weren’t that different, and most likely, it’s the same story all over again, just with a different country and a different penalty amount that Binance will have to pay.
We are headed for a settlement greater than pocket change, perhaps in more of a billion dollars. That kind of money gets headlines, right? And oddly, it is almost expected. Like when a record-breaking contract is signed by a star quarterback, you shake your head at the number, but part of you saw it approaching a mile away
Fascinating is how this ripple effect might alter the crypto scene for regular people. Once regulations clamp down, sometimes you see mainstream confidence actually go up, people think, “Hey, if the big guys are getting reined in, then maybe this is safer for me to jump in.” More generally, the EU has been experimenting with new frameworks and rules (like MiCA), thus this could force them to speed up the process - get all that red tape in place to manage significant transfers. Could it be a headache for Binance? Sure. However, it could also provide the means for them to rebuild trust, particularly if they wish a strong basis in a big area like Europe. It is a typical illustration of temporary suffering for long-term stability
Fascinating is how this ripple effect might alter the crypto scene for regular people. Once regulations clamp down, sometimes you see mainstream confidence actually go up, people think, “Hey, if the big guys are getting reined in, then maybe this is safer for me to jump in.” More generally, the EU has been experimenting with new frameworks and rules (like MiCA), thus this could force them to speed up the process - get all that red tape in place to manage significant transfers. Could it be a headache for Binance? Sure. However, it could also provide the means for them to rebuild trust, particularly if they wish a strong basis in a big area like Europe. It is a typical illustration of temporary suffering for long-term stability
in the recent news, "French investigators open fraud probe against crypto platform Binance"..
https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Binance and CEXs have been milking people for years. They are charging people 0.1% fee on each trade, that's ridiculously high amount because there are millions of trades done daily. That's why these exchanges are so rich and capable to pay billion dollar fines.https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
Quote
The investigation is examining the period from 2019 to 2024, involving offences committed in France but also in all European Union countries, JUNALCO said.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
I don't think this is a case of every country trying to milk binance, rather it is about binance failing to fully comply with regulators and follow their laws and regulations.
Of course Binance always fails to comply with regulators and they regularly break the law but I think that countries really try to milk it. What were they doing till 2024? All of a sudden, every country decided that Binance breaks the law and they should pay charges while they could do it in 2020, 2021, 2022 and 2023.In the US, I think that the reason mostly was Bitcoin ETF approval cause these companies don't want Binance as their competitor.
in the recent news, "French investigators open fraud probe against crypto platform Binance"..
https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
At least the exchange has enjoyed huge illegal tax holidays and countries are beginning to put on their searchlight towards Binance another thing is that Binance has been used for a lot of illegal financial transactions and that also calls for investigations.https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
Quote
The investigation is examining the period from 2019 to 2024, involving offences committed in France but also in all European Union countries, JUNALCO said.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
The fact that Binance claims to be a centralized regulatory compliance exchange, makes it mandated for them to pay taxes to the government of each country in that they have operations and generate huge revenue, there must be some point where licensing becomes very important.
I don't think this is a case of every country trying to milk binance, rather it is about binance failing to fully comply with regulators and follow their laws and regulations. They paid ~ $4.3 billion in a plea deal with the U.S. doj, in this case their representative who has replied so far denies the allegations and says they are going to 'fight' it, does that send any signal that there won't be any plea deal agreed this time around.
They want to milk Binanace or Binanace is milking from their citizens? The exchanges wants to provide crypto products and services to as many countries as possible. That means they should be ready for more issues from the government of each countries. If not because some countries do not mind, Binance has a lot of money that it should have paid.
I will not be surprised if Binance is guilty after the investigation.
I will not be surprised if Binance is guilty after the investigation.
When you say maybe even more do you mean a trillion dollar settlement? Lol. By the way it would be hard to find a flawless exchange after investigating them.
I can speak for or against binance but there has been lots of complaints from binance users against the platform and how easily they can seize the funds of their users, all this coupled with the hack attacks on the platform here and there.
Although some other part of be feel that some of this country are carrying out a vendetta against the binance CEO and platform in general.
I can speak for or against binance but there has been lots of complaints from binance users against the platform and how easily they can seize the funds of their users, all this coupled with the hack attacks on the platform here and there.
Although some other part of be feel that some of this country are carrying out a vendetta against the binance CEO and platform in general.
Binance's main problem in my opinion is only one, namely taxes. Binance, as I know, often has problems with licensing in the countries where they operate.
If the problem in France is also a problem with operational permits and is related to things that tarnish the good name of the crypto industry, I think there must be strict action taken by the authorities there.
When a defense like the one reported, for me, is the most common thing to do.
If the problem in France is also a problem with operational permits and is related to things that tarnish the good name of the crypto industry, I think there must be strict action taken by the authorities there.
When a defense like the one reported, for me, is the most common thing to do.
Well, that's how impactful it is when governments get involved into crypto. Governments will want 100% KYC coverage from all crypto exchanges and failure to do so, will attract a fine worth billions of dollars. That's the future to be honest!
Seriously I am ready to go back to that regime where crypto used to be a less known currency system growing parallely with the mainstream economy. At least our money was safe with us and no one used to put their evil eye on it.
Seriously I am ready to go back to that regime where crypto used to be a less known currency system growing parallely with the mainstream economy. At least our money was safe with us and no one used to put their evil eye on it.
They now have an idea that if they can do this with Binance, it means that they can also do it with other foreign known crypto exchanges. There is a huge money in regulatory bodies of each country and that's why they're not just simply allowing this to pass. And with that, it means that they want to have it for as soon as possible because money that will be earned through fines in there is likely willing to be settled by Binance's management, as if that's what they can see with their POV.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Crypto laws in most countries are too complicated and complex that it will become very difficult to obey. Sometimes it is assumed by some crypto industry players that these laws are designed not just to protect citizens from fraud but to milk them through fines. The laws are also targeted at making these firms to be fully under the surveillance of the government. If they keep on using Binance as a cash cow, the exchange might soon declare bankruptcy and customers' funds will be in danger. Let's see how the investigation will end. No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Don't forget, the greatest financial scandal in history occurred in 2008, involving the world's biggest banks in the US and Europe and almost led to the second worldwide depression. These banks got away with a massive fraud, with the help of their governments. That is why bitcoin was created in 2009.
Don't mind the governments, they're just crooks and oppressors operating in legal combats.
All regulatory authority eyes are getting vested in every crypto platforms with their alleged allegations of frauds.
This is also how my country Nigerian government accused binance of being indulged of manipulating our local currency Naira (#) to be devalued with the foreign exchanges, they accused binance of scamming pointlessly with no evidence provided, binance was fined for damage of pointless violation by the government, the government banned the facilitation of bitcoin and other cryptocurrencies in the country Nigerian and also arrested 3 binance officials who where later charged to court with the justice of "not guilty".
I'm not against them fighting against the fraudulent acts within the crypto because it'd contribute to scamper incoming and existed scamming platforms around the industry so crypto scamming exercises around bitcoin and cryptocurrencies can me minimized but it's alarming about the government channeling the economy fraudulent cases on the crypto industry.
All regulatory authority eyes are getting vested in every crypto platforms with their alleged allegations of frauds.
This is also how my country Nigerian government accused binance of being indulged of manipulating our local currency Naira (#) to be devalued with the foreign exchanges, they accused binance of scamming pointlessly with no evidence provided, binance was fined for damage of pointless violation by the government, the government banned the facilitation of bitcoin and other cryptocurrencies in the country Nigerian and also arrested 3 binance officials who where later charged to court with the justice of "not guilty".
I'm not against them fighting against the fraudulent acts within the crypto because it'd contribute to scamper incoming and existed scamming platforms around the industry so crypto scamming exercises around bitcoin and cryptocurrencies can me minimized but it's alarming about the government channeling the economy fraudulent cases on the crypto industry.
Sometimes the goal is not milking binance but forcing them to fully cooperate in all data and exchange it with governments such as customer data or their tax returns and other data useful to governments.
Judicial levels of a million or several million dollars will not be a problem for binance but many fines may force them to leave the market.
Judicial levels of a million or several million dollars will not be a problem for binance but many fines may force them to leave the market.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
When there is a bad precedent, it creates space for more similar things, and we know many nations globally are following the USA in many things. Regulations for example, started in the USA against Binance, then other nations followed it.No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Before France, months ago Nigeria tried to put two Binance staffs in jail temporarily for blackmailing money from Binance. Their reason is funny and unreasonable that Binance destroyed their national currency Naira.
France with their action to arrest Pavel Durov, the founder of Telegram, shows that they can do severe regulation for their national benefit.
Sure after The USA, France there will be more countries want to milk money from Binance.
in the recent news, "French investigators open fraud probe against crypto platform Binance"..
https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
Quote
The investigation is examining the period from 2019 to 2024, involving offences committed in France but also in all European Union countries, JUNALCO said.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
Maybe each countries want to get their own share and got amazed on how much money settlement gotten by US to them. For context people could read this here https://www.justice.gov/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution
If they can sue Binance to and force them to pay huge amount then this is beneficial to them. To bad that Binance experiencing this situation and I guess this might be the reason of their Bankruptcy.
Don't know how long they can get over with those cases they get and hopefully we will not see Binance will collapsed due to this situation.
There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.
in the recent news, "French investigators open fraud probe against crypto platform Binance"..
https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/
So this will be the period that they will be investigating,
Quote
The investigation is examining the period from 2019 to 2024, involving offences committed in France but also in all European Union countries, JUNALCO said.
For sure, there will be a lot of violations found, and I’m pretty sure the French government is just trying to follow what the U.S. did in investigating Binance.
No jail time here for sure as Binance has more than enough resources to handle this. So most likely, we’re looking at another billion-dollar settlement, maybe even more.
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