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The U.S. Securities and Exchange Commission this month sued Binance and its CEO Changpeng Zhao over what the regulator called a "web of deception" to evade U.S. laws. The German regulator, BaFin, issued a statement declining to comment on individual companies due to confidentiality. Last week, Belgium's FSMA regulator ordered Binance to stop offering any virtual currency services in the country. BaFin in 2021 warned Binance it risked being fined for offering certain digital tokens to clients in Germany without necessary information. Reporting by Tom Sims and Tom Wilson; Editing by Sabine Wollrab and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Binance, Changpeng Zhao, Tom Sims, Tom Wilson, Sabine Wollrab, Mark Potter Organizations: U.S . Securities, Exchange Commission, Finance Forward, Thomson Locations: FRANKFURT, Germany, France
New international sustainability reporting standards could fulfill their ambition in becoming the global baseline as the advantages of using a single standard worldwide may, for many companies, outweigh the disadvantages of being more demanding than the SEC’s coming climate reporting rules. On Monday, the International Sustainability Standards Board released its initial two reporting standards. PREVIEWDespite the strong demand for one standard, U.S. and European Union officials are each developing their own climate reporting regimes. It is now up to individual countries and jurisdictions to decide if and when they will adopt the ISSB standards. Sue Lloyd, vice chair of the International Sustainability Standards Board, at the launch of the inaugural sustainability standards.
Persons: Sue Lloyd, , Brian Moynihan, Lloyd, Um, Lysanne Gray, Eelco van der Enden, Jean, Paul Servais, Benoit Doppagne, Iosco, Unilever’s Gray, Rochelle Toplensky, Amplifications Iosco Organizations: Sustainability, Task Force, Sustainable Business, European Union, International Organization of Securities Commissions, Securities, Exchange Commission, U.S, Wall Street, Bank of America, London Stock Exchange, Asian Development Bank, Unilever, Alignment, Global, Initiative, Belgian Financial Services, Markets, FSMA, Zuma Press, Accounting, Rochelle, wsj.com Corrections, Amplifications Locations: EU, Australia, Canada, Japan, Hong Kong, Malaysia, New Zealand, Nigeria, Singapore, Glasgow, Monday’s, Egypt, Africa, Asia, U.S
BRUSSELS, June 23 (Reuters) - Belgium's FSMA regulator on Friday ordered Binance to cease offering any virtual currency services in the country, adding to pressure on the world's biggest cryptocurrency exchange. "Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area," the FSMA said. "The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium," it added in a statement. Earlier this month, Binance and Binance.US entered an agreement with the U.S. Securities and Exchange Commission to ensure U.S. customer assets remain in the United States until a sweeping lawsuit filed this month by the SEC is resolved. Reporting by Sudip Kar-Gupta; Editing by Louise Heavens and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
Persons: Binance, Changpeng Zhao, Binance.US, Sudip Kar, Louise Heavens, Alexander Smith Organizations: European Economic, U.S . Securities, Exchange Commission, SEC, Thomson Locations: BRUSSELS, Shanghai, Belgium, United States, France
LONDON, Nov 24 (Reuters) - The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch. Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. "Is it the case for the crypto market? "For investor protection reasons, there is a need to provide additional clarity to these crypto markets markets through targeted guidance in applying IOSCO’s principles to crypto assets," Servais said.
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