{"id":31268,"date":"2024-05-24T08:04:49","date_gmt":"2024-05-24T08:04:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-us-reclaims-florida-license-after-successful-appeal\/"},"modified":"2024-05-24T08:04:49","modified_gmt":"2024-05-24T08:04:49","slug":"binance-us-reclaims-florida-license-after-successful-appeal","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-us-reclaims-florida-license-after-successful-appeal\/","title":{"rendered":"Binance US Reclaims Florida License After Successful Appeal"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Following a positive decision from the Florida First District Court of Appeal, Binance US has successfully reclaimed its money-services business license in the state of Florida. The emergency suspension order issued by the Office of Financial Regulation (OFR) that had previously put a stop to Binance\u2019s activities in the state was reversed by this ruling.<\/p>\n

The state law\u2019s use of the word \u201cmay\u201d suggests discretionary action rather than a required suspension, thus the court determined that the OFR\u2019s suspension lacked legal justification. This decision requires the OFR to provide more convincing proof and take into account less drastic options before enforcing bans.<\/p>\n

The suspension was initially triggered after Binance CEO Changpeng Zhao admitted to violating US Anti-Money Laundering laws last November. However, the court emphasized that immediate compliance with the suspension would require liquidating digital assets held by over 170,000 Florida clients, posing a significant financial risk due to price volatility.<\/p>\n

The court stated, \u201cFor Petitioner to immediately comply with the ESO, it would be necessary to liquidate the digital asset holdings of every customer [which] threatens financial harm because of digital asset price fluctuations.\u201d<\/em><\/p>\n

Wider Impact and Future Operations<\/h2>\n

Binance\u2019s suspension in Florida was one of the first following Zhao\u2019s guilty plea, leading to similar actions in states like North Carolina, Maine, Alaska, and Oregon. Additionally, operations in Ohio and Georgia remain unresolved, while Binance services are unavailable in New York, Hawaii, Minnesota, Vermont, and Texas.<\/p>\n

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250% Extra + $125 Free Chip!<\/strong><\/strong> <\/p>\n

New players only. 250% on 1st Deposit + $125 Free Chip<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

While the OFR may still appeal the ruling, Binance is now permitted to continue serving its existing Florida customers. However, new user registrations are temporarily on hold.<\/p>\n

Binance, established in 2017, is renowned as the world\u2019s largest crypto exchange by daily trading volume. The platform enables users to buy and trade a variety of digital assets, including the widely recognized Binance Coin (BNB).<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Following a positive decision from the Florida First District Court of Appeal, Binance US has successfully reclaimed its money-services business license in the state of Florida. The emergency suspension order issued by the Office of Financial Regulation (OFR) that had previously put a stop to Binance\u2019s […]<\/p>\n","protected":false},"author":34,"featured_media":31269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31268"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31268"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31269"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}