The world’s largest cryptocurrency exchange Binance temporarily suspended operations in Israel at the request of the regulator.
This writes Coimdesk referring to the local edition of Globes.
It is noted that the Israel Capital Markets Authority, the regulator responsible for licensing crypto exchanges, has asked Binance to clarify the nature of its operations and is reviewing its licenses.
“Following the Capital Markets Authority’s intervention, Binance has stopped marketing to Israelis at this point, and all activities directed at Israel until licensing issues are reviewed,” the report said. Binance is under increasing scrutiny from regulators around the world.
The company is facing an investigation by the U.S. securities regulator. In July 2021, the U.K.’s financial watchdog, the FCA, warned that Binance was not allowed to operate in the country, the publication recalled.