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Binance Halts Operations in Israel Due to Regulations

Binance Halts Operations in Israel Due to Regulations

The world's largest crypto exchange Binance has reportedly been urged to stop operating in Israel after pressure from regulators.

Binance has been making partnership deals all across the globe, and earning business licenses to operate within several countries. However, there are still hurdles that the crypto exchange has to overcome in some regions.

Based on a report by an Israeli business newspaper Globes, Binance has been urged to "stop marketing to Israelis" by the Capital Market, Insurance and Savings Authority:

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"Following the intervention of the capital market, Binance has at this stage stopped marketing to Israelis and all activities focused on Israel until we examine the issue of licensing."

The regulatory authority argued that Binance has yet to provide any information regarding its services in Israel, and allegedly has not been licensed to operate within the region. This forced Binance to stop all activities in Israel until further notice.

While Israel has been quite open to cryptocurrencies and the development of blockchain technologies within the country, Binance seems to be on the chopping block when it comes to the region in the Middle East. In fact, the crypto exchange has already removed payments with shekels for cryptocurrencies.

Despite the issues with Israel, Binance has successfully earned its keep in several other countries by earning business licenses in Canada and Bahrain

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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