Binance, one of the world's largest cryptocurrency exchanges and a leader in member-based valuation, has decided to end its operations in Canada along with the UK. In fact, this is a mandatory decision, because with the advent of sanctions, they have no other choice.
It was announced recently that the UK and Binance signals news and shared with you valuable investors how this affects crypto assets. While continuing to operate in Ontario, Binance recently announced that it will no longer continue to operate in the region. The stock market, which had to make this decision due to regulatory issues, will no longer be mentioned in Ontario.
The situation is getting a little worse day by day and we see the situation spiraling out of control. Binance is shutting down one by one, and investors do not know how to proceed in this matter.
It was announced that the deals should be completed by 31 December, and this was done in an official letter. You know very well that Binance is one of the best and also the largest in this market. Unfortunately, we have to agree with the sanctions, since the conditions are not met. Activity will be stopped and possibly ignored Binance signals in several more regions.
We've seen that even Binance, one of the largest exchanges in the industry, can make big mistakes. When choosing the stock market, people prefer reliable and highly rated exchanges, but such simple mistakes, unfortunately, once again reveal the problem of trust.
Along with the UK, Canada has become one of the countries that have proposed sanctions against Binance. So, will these developments continue? There is no clarity at this point, but Binance will certainly take some precautions and take steps in this regard. We do not think that a giant company like Binance will easily succumb to these sanctions, and we express full confidence that they will take precautions.
Cryptocurrency scams are unabated. This time, according to a statement from Greece and the cybercrime department, the development of events has reached an incredible level. The number of cases of fraudulent use of cryptocurrency is increasing day by day, and, unfortunately, this cannot be prevented.
The Greek police are eager to warn investors and there is little they can do. Meanwhile, one of the most active branches is online pyramid schemes. Recently, a similar situation has been seen in other countries, and we should not forget that this activity continues.
Forms that operate according to the logic of the Ponzi scheme and which are said to generate high profits in a short time do nothing but deceive people. So what is this pyramid? Let's answer together.
How realistic can the promise of high profits be in a short timeframe?
This is the biggest trick of the Ponzi circuit systems. They come to you with the promise that we will double your money with a low risk policy in a short timeframe. The number of investors who continue and participate in this activity in our country is quite large. With a software-backed robotic system, transactions are made on your behalf, and high profits are promised at the end of the month.
When the system is locked, your capital and profits disappear. In fact, it is one of the simplest fraud methods and Greece is currently awash with these scams. There is too much money spent, and it does not stop.
There is nothing we can do but warn investors. Be careful, otherwise it is easy to get caught by the scammers' radar. Such systems always have an opening time and a burst time. You must act with this knowledge and remember that no one can bring you high profits in a short time. In this case, why are such organizations needed?
Mexico was included in the list of countries that limited the powers of financial institutions. We were quite surprised to see the name of Mexico on this list, along with Iran and China. Countries continue to take steps in this direction and come to the fore with bans. The biggest sanction in this regard came from China, and it should not be forgotten that mining has been completely stopped.
You may recall that the UK recently warned Binance, one of the world's largest cryptocurrency exchanges, to cease operations. Each of these events negatively affects crypto assets, and this is definitely one of the most important reasons for the big drop.
Mexico is experiencing a similar event, and as a result of the central bank's announcement, it was announced that unauthorized transactions would be subject to sanctions. This soon increased his influence on Bitcoin and Ethereum. Investors are worried about these decisions made by countries, and the growth in their number is also sad.
One of the most important issues that comes up on the agenda in href="https://en.wikipedia.org/wiki/Cryptocurrency" target="blank" rel="nofollow"> cryptocurrency transactions is fraud and money laundering. Using blockchain technology, money transfers and storage are very easy. However, it should not be forgotten that there are many people and institutions that do this with malicious intent.
Mexico has also highlighted this issue, and this is the real reason for the sanctions. Along with the bans, investors need to tread carefully, and we think Mexico will soon tighten sanctions, as will China.
News like this appears on the cryptocurrency agenda every day, and it should not be overlooked that this news negatively affects both stock markets and investors. If you remember, under pressure from China, there was a sharp drop in bitcoins, and we must not forget the statements by Elon Musk that contributed to this drop. We hope that these sanctions will be lifted and cryptocurrency investors will take a deep breath.
