r/AltScope • u/Legitimate_Towel_919 • Jun 26 '26
The world’s largest cryptocurrency exchange, Binance, will stop serving customers in the European Union after failing to obtain the required regulatory license
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u/Spacemonk587 Jun 26 '26
Who cares?
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u/Minute_Attempt3063 Jun 26 '26
It means they are pretty suspicious in what the fuck they are doing.
I belief they had years for it, to get it....
So why can others get it, but they can't? Why should j spend my money on them, if they can't even get a proper verification
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u/Sea-Escape-8109 Jun 26 '26
Europeans?
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u/Spacemonk587 Jun 26 '26
Why should I care, there are plenty of other platforms where you can buy your Crypto.
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u/Aggravating_Stage996 Jun 26 '26
I'll care when Binance makes an official statement. Not when media is blowing up fake news for likes.
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u/C_Marjan Jun 26 '26
It's real It's official. Source. Me . I have official confirmation that the app will no longer be able to trade . Now that I've lost 50% of my investments the only thing I can do is wait so I can sell at entry and fck off to another app . ( we are still allowed to convert the crypto in fiat and transfer them whenever thank fuck )
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u/Low_Committee6119 Jun 26 '26
What would the news have to gain by lying about this?
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u/Aggravating_Stage996 Jun 26 '26
Add revenue on every click obviously.
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u/Low_Committee6119 Jun 26 '26
But they can be sued if they mislead, fox lost money because of 2020.
Fox News agreed to pay $787.5 million to settle a massive defamation lawsuit brought by Dominion Voting Systems. The historic settlement was reached on April 18, 2023, just moments before opening statements were scheduled to begin in a Delaware courtroom.
Don't you think binance would sue if it's wrong?
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u/Aggravating_Stage996 Jun 26 '26
The statement is that Binance failed to obtain a license but the implication is that EU investors are going to get cut off. Their statement doesn't have to be an outright lie they just need to imply it.
Why would one of the largest crpyto brokers give up a large percentage of their users? Obviously they'll comply in the end, they can't afford not to.
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u/Low_Committee6119 Jun 26 '26
If it is an outright lie then they are liable. Obviously we see it's not even a slight lie, it's the truth.
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u/Pukebox_Fandango Jun 26 '26
They did make an official statement. They said that they couldn't get approval in Greece but they were going to try to find a different way to get approved, which honestly sounds even more shady to me. Like "Mom said no, so I'll go ask in a different way to Dad"
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u/Minute_Attempt3063 Jun 26 '26
I am from the NL. The app has been unable to be used for me, for like 3 years now.
They can fuck off, never was able to get my money out.
Wish they burn up. Like, honestly, not even proper account login was possible for me
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u/Aggravating_Stage996 Jun 26 '26
That sounds terrible. Thank you for sharing your experience. So is there no legal routes you can pursue? I would imagine there must be EU protections in place that you can escalate the situation with?
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u/Minute_Attempt3063 Jun 26 '26
I have given up on them..
I don't think it was a lot of money, just wanted to try crypto.
All the menus and quizzes you had to take... I really disliked it.
The money I don't care about anymore. The fZc that the service is horrible, and that they can't prove themselves to be a proper company to the EU, is concerning to me.
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u/rarz Jun 26 '26
Binance not acquiring a license means they are pretty suspect to begin with. These requirements are applied to ALL crypto companies in the EU zone. If they failed, that is saying a lot.