[{"data":1,"prerenderedAt":130},["ShallowReactive",2],{"/blog/sc-enforcement-binance-2021":3},{"id":4,"title":5,"author":6,"authorPic":7,"body":8,"category":119,"coverPics":18,"date":120,"description":121,"extension":122,"meta":123,"navigation":124,"path":125,"seo":126,"stem":127,"type":128,"__hash__":129},"blogs/blog/sc-enforcement-binance-2021.md","SC orders Binance out — reprimand names CZ personally","Malaysia Blockchain Association Team","https://api.dicebear.com/7.x/avataaars/svg?seed=mba-team-3",{"type":9,"value":10,"toc":110},"minimark",[11,19,22,34,39,42,59,66,70,73,78],[12,13,14],"p",{},[15,16],"img",{"alt":17,"src":18},"Perimeter watch","/img/blog/gen/sc-enforcement-binance-2021.svg",[12,20,21],{},"The world's largest crypto exchange has been shown the door in Malaysia.",[12,23,24,25,29,30,33],{},"The Securities Commission today ",[26,27,28],"strong",{},"publicly reprimanded Binance"," for illegally operating a Digital Asset Exchange — a year after placing it on the SC's Investor Alert List in July 2020. The reprimand names four entities — Binance Holdings Limited (Cayman Islands), Binance Digital Limited (UK), Binance UAB (Lithuania) and Binance Asia Services Pte Ltd (Singapore) — and, notably, CEO ",[26,31,32],{},"Zhao Changpeng (CZ)"," personally, who is made responsible for ensuring compliance.",[35,36,38],"h2",{"id":37},"the-orders","The orders",[12,40,41],{},"Effective from 26 July 2021, Binance must:",[43,44,45,53,56],"ul",{},[46,47,48,49,52],"li",{},"disable binance.com and its mobile apps in Malaysia within ",[26,50,51],{},"14 business days",";",[46,54,55],{},"immediately cease all media and marketing activity aimed at Malaysians; and",[46,57,58],{},"restrict Malaysian access to its Telegram group.",[12,60,61,62,65],{},"The SC has advised Malaysian investors to stop trading on Binance and ",[26,63,64],{},"\"withdraw all their investments immediately.\""," Operating an unregistered DAX is an offence under the Capital Markets and Services Act 2007.",[35,67,69],{"id":68},"what-it-signals","What it signals",[12,71,72],{},"The SC waited a year after the alert-list warning before acting — but when it acted, it went after the group structure and the CEO by name. The message to offshore platforms serving Malaysians without registration could not be clearer: the perimeter is real. For the four registered local DAX operators, it is also, frankly, a level-playing-field moment.",[74,75,77],"h3",{"id":76},"references","References",[43,79,80,89,96,103],{},[46,81,82],{},[83,84,88],"a",{"href":85,"rel":86},"https://www.sc.com.my/resources/media/media-release/sc-takes-enforcement-actions-on-binance-for-illegally-operating-in-malaysia",[87],"nofollow","Securities Commission Malaysia — \"SC Takes Enforcement Actions on Binance for Illegally Operating in Malaysia\" (30 Jul 2021)",[46,90,91],{},[83,92,95],{"href":93,"rel":94},"https://www.malaymail.com/news/money/2021/07/30/securities-commission-takes-enforcement-actions-against-binance-for-illegal/1993945",[87],"Malay Mail — enforcement coverage (30 Jul 2021)",[46,97,98],{},[83,99,102],{"href":100,"rel":101},"https://fintechnews.my/28995/blockchain/binance-and-cz-faces-enforcement-action-from-sc-for-illegal-crypto-activities-in-malaysia/",[87],"Fintech News Malaysia — \"Binance and CZ face enforcement action from SC\"",[46,104,105],{},[83,106,109],{"href":107,"rel":108},"https://decrypt.co/77233/malaysia-regulator-takes-enforcement-action-against-binance-for-illegal-operations",[87],"Decrypt — coverage (Jul 2021)",{"title":111,"searchDepth":112,"depth":112,"links":113},"",2,[114,115],{"id":37,"depth":112,"text":38},{"id":68,"depth":112,"text":69,"children":116},[117],{"id":76,"depth":118,"text":77},3,"News","2021-07-30","The Securities Commission publicly reprimands Binance for operating an unregistered digital asset exchange, ordering it to disable its website and apps for Malaysians within 14 business days — and tells investors to withdraw their funds.","md",{},true,"/blog/sc-enforcement-binance-2021",{"title":5,"description":121},"blog/sc-enforcement-binance-2021","blog","cTMbKFB_DdIRtRbgBpEOl2ZK3qcQcBy7MuDEmkDJcx8",1784183600247]