The world’s largest crypto exchange Binance and CEO Changpeng “CZ” Zhao is under intense scrutiny from regulators in the euro area after US SEC and CFTC lawsuits against Binance, according to the Wall Street Journal. Binance Regulatory and Banking Partner Challenges in EuropeGermany’s financial regulator BaFin recommended Binance to withdraw its license application in the country. The crypto exchange faces scrutiny from France, Belgium, the UK regulators, even losing its European banking partner PaySafe. The challenges for Binance CEO CZ continue to rise amid renewed scrutiny in the euro area. Binance also faced DOJ investigations, with some experts revealing that a lawsuit against the crypto exchange and CEO is imminent.

Source: Wall Street Journal July 29, 2023 16:53 UTC