Binance temporarily halted operations in Israel at the request of the regulator

The crypto exchange has not received a license to provide services to Israelis

18.02.2022 - 08:00

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What’s new? Israel’s Capital Markets, Insurance and Savings Authority, which is also responsible for licensing crypto exchanges, has requested Binance to provide licenses. The regulator stressed that the platform, unlike other crypto companies, has not applied for approval to operate in the country. This is reported by the Globes publication.

Material on the Globes website

What did the regulator say? According to the authority, Binance does not have a license to provide services in Israel, yet it is already used by some 200 000 local citizens. The regulator noted that until the authority examines the issue of licensing, Binance should stop operating in the local market.

The head of the Israeli crypto exchange CryptoJungle Ben Samocha clarified that Binance has already removed support in Hebrew and the Israeli shekel.

In July 2021, Binance also shut down cryptocurrency derivatives trading in Germany, Italy, and the Netherlands for similar reasons.

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