In the decision regarding Binance Holdings Limited, the Securities Commission examined allegations of regulatory non-compliance by the cryptocurrency exchange. The key issues included operating without proper registration and failing to meet the standards required for investor protection and market integrity.
The Commission found that Binance had engaged in activities that required registration under securities laws but had not obtained the necessary approvals. This non-compliance was deemed a significant risk to investors and the broader financial market.
As a result, the Commission ordered Binance to cease all unregistered activities and take corrective measures to comply with regulatory requirements. The decision was grounded in securities regulations that mandate proper registration and adherence to standards designed to protect investors and ensure market integrity.