U.S. actions “have been very confusing over the last six months,” Patrick Hillmann said at the Financial Times summit on cryptocurrencies and digital assets.
A top executive criticized the Securities and Exchange Commission’s (SEC) actions against rival exchange Coinbase over alleged violations of securities laws.
Hillmann assured that Binance will do everything possible to allow the exchange to operate in the UK.
Previously, Binance had a conflict with the authorities in the United Kingdom, which said the exchange can not be regulated after failing to provide basic information about its business activities.
The company has no permanent headquarters and offers services around the world.. Hillman declined to confirm whether the company reapplied to the registration regime for the crypto business.
Despite the fact that 2023 for Binance started on a positive note, and at the end of 2022 the exchange became the absolute market leader with a share of more than 70%.
It was not able to hold on to the position for long. U.S. financial regulators played a major role in Binance’s decline.
The first blow came from the New York Financial Services Department (NYDFS), which ordered BUSD, Binance’s own stablecoin, to stop issuing;
The situation was worsened by a recent lawsuit by the U.S. Commodity Futures Trading Commission (CFTC) against Binance and its CEO, Changpeng Zhao, for possibly evading federal laws and operating an unregistered digital asset derivatives exchange
In April, a lawsuit by the law firms Moscowitz and Boies Schiller Flexner was filed in the U.S. District Court for the Southern District of Florida.
The plaintiffs accuse Changpeng Zhao and his company as well as three “cryptocurrency bloggers” of unregistered trading in cryptocurrency securities as well as promoting such services.