[HN Gopher] Crypto exchange Binance temporarily suspends payment...
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Crypto exchange Binance temporarily suspends payments from EU's
Sepa network
Author : tenslisi
Score : 40 points
Date : 2021-07-06 21:04 UTC (1 hours ago)
(HTM) web link (www.reuters.com)
(TXT) w3m dump (www.reuters.com)
| johnnyApplePRNG wrote:
| Binance is resilient towards these kinds of hiccups.
|
| Looking forward to see their solution.
| adflux wrote:
| this is good for bitcoin
|
| /s
| Tenoke wrote:
| It's pretty sad how much they are getting attacked (which this is
| in response to) given that they haven't suddenly done anything to
| deserve it.
|
| They have ~ the volume of the other 9 from the top 10 exchanges
| combined so these attacks are really going to hurt if they
| succeed plus make crypto much worse for trading by removing the
| cheapest option with biggest volume.
|
| Also as someone that uses Binance exclusively via SEPA this is
| particularly tiresome to me.
| qeternity wrote:
| > It's pretty sad how much they are getting attacked (which
| this is in response to) given that they haven't suddenly done
| anything to deserve it.
|
| What? How is that relevant? If I'm a career criminal, does that
| make it any better just because I've always been bad? Would you
| advocate not prosecuting someone just because they've gotten
| away with something for some period of time?
| Tenoke wrote:
| They haven't always been bad. They've been pretty fair in
| their dealings and the current wave is using their trading of
| derivatives (which is questionable whether is a crime given
| that they stop when asked) to attack the rest of their
| business, too.
| qeternity wrote:
| No, and this is incredibly naive. Their entire business
| model is based on evading KYC/AML requirements. Hell, CZ
| even sued to cover up the leaked "Tai Chi" document that
| outlined their strategy.
|
| Binance is bad to the bone.
| Tenoke wrote:
| > Their entire business model is based on evading KYC/AML
| requirements.
|
| Except you can't put money in without them, and if a
| government like the US is unhappy they go out of their
| way to prevent their citizens from trading there.
|
| This is definitely not what their 'entire business model
| is based on'.
| NicoJuicy wrote:
| What do you think about binance trading tokenized stocks like
| Tesla and Apple?
|
| For a company being this big, not even sharing where they are
| hq'ed raises big red flags.
|
| Even the simple fact that binance uses mainly Tether is very
| concerning too. In combination with a lot of users limited to
| withdraw funds, i suspect most of their "backed" money is just
| a fad.
| Tenoke wrote:
| The US had a problem with their offerings so they pulled out.
| The UK has a problem so they've started setting up a version
| without those.
|
| I see nothing bad in general about attempting to offer more
| products and they do try to comply with governments which do
| not allow those offerings.
| supergirl wrote:
| I bet this is due to lobbying from coinbase investors. for
| coinbase to not flunk, they need to get rid of binance and lobby
| for more crypto regulations. I guess coinbase wants to get more
| EU customers. binance was already all but banned in the US I
| think
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