![]() Yet for several months Binance kept telling its millions of customers that its terms of use were “governed under the laws of Malta.” A letter from Binance in 2020, seen by Reuters, shows donations to the charity were scrapped, too. The following year, Binance privately informed the regulator it had aborted its plan, the regulator told Reuters. REUTERS/Dado Ruvic/IllustrationĪs Zhao studied the license’s conditions, he grew nervous about their stringent anti-money laundering protocols and the level of financial disclosure required, according to four people with direct knowledge of the licensing discussions. Zhao said the island would be Binance’s new base.īinance’s proposed relocation crowned the Maltese government’s strategy to turn Malta into a “Blockchain Island.” Zhao pledged that Binance would raise donations for local cancer patients.Ī Binance app on a smartphone. That same month Binance notified Malta’s financial regulator it planned to seek a license to operate its exchange from the island - an important step to mainstream legitimacy for the young firm. “Malta came at a time when regulatory clarity was very much needed.” “Binance got really lucky,” Zhao told the audience, in filmed remarks. Zhao praised Malta for opening its doors to crypto firms. Zhao was in Malta to find Binance a new home, having quit mainland China the year before when regulators there began cracking down on cryptocurrencies. If the system detects that a user has deleted his account in order to create a new account to benefit from the referral program, Binance reserves the right to terminate all referral commissions from the account.ATTARD, Malta – In the courtyard of a secluded limestone palace, Malta’s political elite welcomed a guest: Changpeng Zhao, chief executive of Binance, the world’s largest cryptocurrency exchange.If you have any questions, please contact customer service. Binance has the sole discretion to decide and determine whether a user will be entitled to earn any commission and reserves the right to amend these Terms & Conditions from time to time. ![]() Any breach of the Binance Terms of Use will disqualify the user from earning the Standard Referral commissions. All users must strictly abide by the Binance Terms of Use.Binance reserves the right to cancel or amend the Standard Referral Program or Program Rules at our sole discretion.This includes bulk-account registrations to obtain additional bonuses, usage of “phishing” websites containing referral links, posting referral links as advertisements on search engines, and any other activity in connection with unlawful, fraudulent, or harmful purposes. Binance reserves the right to disqualify users from participating in the Binance Standard Referral Program and revoke any commission from users who engage in dishonest or abusive activities to earn commissions.This applies to all existing and new referred users. From 02:00 (UTC), referral commissions will be discontinued for all referred users who reach VIP 3 or higher. The inviter is eligible to receive referral commissions from invitees who are regular users or those within the VIP 1 - 2 tiers. ![]() You will then only receive referral commissions for Futures trading from this user.
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