Binance was ordered to cease operations and marketing in Israel

The Binance exchange is said to have ceased operations and marketing to Israelis after one of the country’s financial regulators applied for licensing.

Israel’s Capital Markets, Insurance and Savings Agency has done so, according to a report Thursday inquiry BNB provides information about the services it offers to the people of the country and any licenses it operates under. The regulator responsible for handling licenses for crypto companies reportedly never received ’s application for a license to do business in Israel.

“Following agency intervention, Binance has suspended marketing to Israelis and all Israel-facing activities pending review of the licensing issue.”

Binance’s website no longer lists the Israeli shekel as a payment option for buying cryptocurrency, a feature that was introduced in February 2020.

However, at the time of publication, the platform’s job listing still includes seven opportunities to partner with the exchange in Israel.

In July 2021, Binance CEO Changpeng Zhao said he wanted the exchange to work with local regulators as it sets up offices in other countries. However, Binance still faces regulatory scrutiny as authorities in Italy, Malaysia, Poland, Germany, the United Kingdom, the Cayman Islands, Thailand, Canada, Japan, Singapore and other countries have issued statements that the exchange is operating illegally, or have warned investors to be cautious.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page