- Clarification from Binance CEO
- Reaction to Censorship in the Crypto Industry
- Impact on the Market and Community
Binance CEO Richard Teng has debunked rumors that Binance is blocking Palestinian accounts at Israel's request, stating that only accounts linked to illicit transactions were affected.
Clarification from Binance CEO
Binance CEO Richard Teng stated that the circulating rumors on social media are mere FUD (fear, uncertainty, and doubt). He clarified that only a limited number of user accounts, which were linked to illicit transactions, were blocked. Teng emphasized that as a global crypto exchange, Binance complies with internationally accepted anti-money laundering legislation.
Reaction to Censorship in the Crypto Industry
The wider crypto community has expressed discontent with any form of censorship within the industry. The recent arrest of Telegram Founder Pavel Durov in France sparked outrage, underscoring the unacceptability of censorship in the crypto world. In this context, Binance cannot afford to be embroiled in censorship scandals.
Impact on the Market and Community
Although Binance is the largest trading platform in the industry, the FUD surrounding account blocking could negatively affect community opinion. In a bearish market, this could exacerbate the situation. The price of Binance Coin (BNB) has already dropped by 3% to $538.47.
Amid the rumors of blocking Palestinian accounts, Binance continues to emphasize its adherence to international laws and standards. CEO Richard Teng calls for understanding and calm within the community.
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