Binance is illegally operating in Malaysia, authorities claim

[Riya143]

According to the Malaysia Securities Commission, Binance is breaking the law by operating in the country.
The Malaysia Securities Commission has said that Binance is breaking its securities laws and that its operators are thus liable for imprisonment. It added the crypto exchange to a blacklist yesterday and advised investors not to use the platform.

Binance is “operating a recognized market without authorisation from the SC,” it said. Malaysian law states that crypto exchanges operating without a license “may be liable to a fine not exceeding RM10 million [$2.3 million] or imprisonment up to ten years or both.”
Read More: https://decrypt.co/36027/binance-is-illegally-operating-in-malaysia-authorities-claim