The court ruled that the Florida enforcement agencies blocked BinanceUS services by misusing the emergency order against this crypto firm.
Binance is a top-ranked crypto exchange. BinanceUS is an American subsidiary of Binance Exchange. Since 2023, this exchange has been under huge legal hurdles. Last year, Binance co-founder Changpeng Zhao (CX) pleaded guilty to violating money laundering charges for operating an unregistered crypto business in the US. A week after, the financial regulators of Florida issued an emergency order against BinanceUS to suspend its money transmitter license. Since that date, Binance crypto services have been suspended.
On 22 May 2024, A state appeals court ruled that Florida regulators were wrong to stop BinanceUS from operating in the state. This decision means BinanceUS can now start doing business in Florida again.
This is very big news for BinanceUS & BinanceUS users, as BinanceUS crypto services always remain better for crypto traders to trade crypto assets.
Last month the court ruled 4 months of prison sentence against Binance’s former CEO Changpeng Zhao (CZ) and currently Zhao is waiting for his jail sentence.
Now we can say that problems for this crypto exchange are now going to end, after the next few months, to a great extent in the US jurisdiction.
It is worth it to note that Binance is currently facing legal issues in some other jurisdictions. In particular, one of Binance Nigeria’s executives is in jail over tax exemption & money laundering charges.
Binance Coin price action
Binance Coin (BNB) is the native token of the Binance crypto exchange & the current trade price of this token is $613. Following this news, the trade price of this token surged significantly on 22 May.
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