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Litecoin/BNB Coin Pair Are Is Now Available On The Binance DEX

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Litecoin/BNB Coin

Litecoin/BNB coin pair is now available on the Binance DEX including the latest asset called LTC-F07 and more than 18,500 tokens have been released for trading as we are reading further in the litecoin news today.

In the latest listing proposal, the binance CEO Changpeng Zhao explained the potential of the Litecoin/BNB Coin pair trading on the Binance DEX:

“LTC is decentralized money, free from censorship and open to all. The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing billions of dollars of value”

Chanpeng Zhao also noted that the contribution that Litecoin has to offer to the future blockchain progress, especially the Lightning Network and Atomic Swaps. As a new asset, the LTC-F07 is mintable and the total supply will increase with market demand so all of the tokens issued will be backed 1:1 by a native LTC in which the accuracy of the connection will be monitored by an initial verified Litecoin address. The Binance DEX is a side-project of Binance which is currently the largest crypto exchange in the world.

The DEX operates on the native Binance Chain and supports non-custodial peer-to-peer trading of more than 130 assets. Some of the major cryptocurrencies include Bitcoin Cash and Bitcoin as well as other numerous stablecoins which have their ‘mirrors’ on the Binance Chain with actual tokens of the native Binance BEP2 standard. As we reported previously in our Binance news, the decentralized exchange (DEX) is apparently blocking access to users based in 29 countries. The Binance DEX informs potential users of the restriction through a message which appears when someone is accessing the platform from any of the specified regions.

Aside from this, the pop-up which Binance DEX has designed warns about the trading and accessing the wallet interface through the website – and how it will be blocked for users with IP addresses from the aforementioned countries. A lot of people in the crypto community are bashing Binance and have characterized the finding as an indication that the DEX is in fact not actually decentralized. One Twitter user who is well known among crypto enthusiasts named Whale Panda commented:

“Reminder that it was never a DEX so stop calling it a DEX. It’s just a word they used to pump $BNB, it was never meant to be decentralized.”

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Binance News

Fiat-To-Crypto Trading For The Vietnamese Dong Open On Binance

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Binance now allows direct fiat-to-crypto trading for the Vietnamese Dong as a part of its further expansion plan, still remaining the leading cryptocurrency exchange as we are reading further in the Binance news below.Binance is the world’s leading cryptocurrency exchange according to its daily trading volume and now, the platform continues to add new features allowing traders to take advantage of the new diversified set of tools. According to the latest press release, Binance adds fiat-to-crypto peer-to-peer trading for the Vietnamese Dong and the users will be able to purchase and sell USDT, BTC, BNB, ETH with VND. The option will be open for both Android and iOS users. The CEO of Binance, Changpeng Zhao explained more about the decision:
‘’Binance is committed to providing our global users with more convenient fiat gateways and easy access to cryptocurrency, and our P2P service aims to lower the barriers to entry to the crypto world. We are pleased to introduce fiat-to-crypto P2P trading services to Vietnamese users to flexibly trade cryptocurrency at low costs.’’
The number one exchange platform continues to expand and in a couple of years, it managed to prove that it is possible for an exchange platform to become a renowned and reputed organization with continuous growth. Some of the reasons for that are the strive to comply with the existing regulation in the countries they operate within. For example, in 2019, Binance prohibited all US-based traders from using their main exchange because of the legislation in the country. However, shortly after they created a designated platform that is compliant with all of the US laws and allowed traders to take advantage of that situation.The exchange is also doing a lot of hard work in the area of futures trading since just a few weeks ago, Binance supported only BTC for futures trading but has since added a lot more cryptocurrencies including EOS (EOS), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Tron (TRX), Chainlink (LINK), Ethereum Classic (ETC) and Stellar (XLM). Binance is still the preferred choice for traders across the world, making it easy for the company to expand in all parts of the globe.
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Binance News

Z Corporation Partners With Binance, BNB Expansion In Asia Continues

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Z Corporation, the subsidiary of SoftBank and TaoTato, the popular Japanese crypto exchange have just partnered with the Binance crypto exchange giant meaning that the popular platform only furthered its expansion goals on the Asian market. in today’s Binance, news, we find out what this means for the market.Binance publicly announced the partnership with Z Corporation and TaoTao. Yahoo Japan actually set up Z Corporation in 2018 with the idea to invest in industries they believed would thrive into the next decade. However, there were no actual statements made as to what the partnership will bring for the companies but the support team of Binance informed the Japanese users that the exchange will slowly phase-out of the country because of the transaction restrictions. The exchange made a similar announcement back a year ago before they decided to shutter services for the US traders. A few months after the announcement, Binance rolled out a new wing in the United States after a partnership with BAM Trading Services in order to create their customer base in the country.There are a lot of signs that show Binance continuing operations in Japan through these new partnerships. Z Corporation owns about 40 percent of TaoTao which means that Binance will work with Yahoo Japan’s delegates in order to reach a mutual understanding. This way, the exchange giant will be able to gather local expertise and to bring the compliance processes into clear air. Binance even opened its doors to Singapore in 2019 by creating a new entity along with Vertex Ventures. They also acquired WazirX which is considered the largest crypto exchange in India and gave them a fiat gateway to the Indian rupee.Binance entered Thailand as well after a fiat on-ramp for the Thai baht was added to the crypto demographic as well. These decisions create the trending narrative in Asia since there are some of the most innovation-friendly countries such as Singapore, which will lead the next decade of development of crypto and its implementation. Some of the leading crypto exchanges believe that Asia is the best place for blockchain and crypto since it is open to both of them all of the time. if mass adoption is coming, Binance will win from dominating the Asian retail market where 60% of the world population lives.
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Binance News

Binance CEO Addresses Compliance As Key For Crypto Climate In Japan

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The latest cryptocurrency news take us to Japan, where the head of Binance Changpeng Zhao has started discussions regarding a strategic partnership with two Japanese firms. As we can see from the news, the Binance CEO addresses compliance as the key for new strategic partnerships in Japan.A press release on January 17 shows that the head of the exchange has begun negotiations with Z Corporation, a subsidiary of Z Holdings formerly known as Yahoo Japan and TaoTao, a crypto exchange licensed in Japan.Right now, the details of the partnership are still hidden. However, the Binance CEO addresses compliance and said that Z Corporation and TaoTao would "continue discussions and deliberations with Binance and begin preparation to launch trading services for users in Japan."Changpeng Zhao (CZ) spoke to the media about the partnerships and said:
“We are looking forward to our joint efforts with Z Corporation/TaoTao in bringing our services to Japan. Foremost, we want to ensure that we work in full compliance with Japanese laws and regulations where local and global standards function as a key role in establishing sustainable development industry-wide and greater public adoption.”
As Binance CEO addresses compliance, we can see that this comes as a follow up from the January 14 decision by the Financial Services Agency (FSA) which proposed lowering the leverage rate limit of cryptocurrency margin trading from 4x to 2x. The revised versions of the Payment Services Act and the Financial Instruments and Exchange Act, will be enforced in April.The Binance news also show that as per the exchange, all parties in this partnership would work with the agency. The exchange said:
"Through licensing Binance’s cutting-edge technologies, Z Corp and TaoTao will collaborate with the Financial Service Agency to ensure full regulatory compliance in the Japanese market."
Meanwhile, Binance yesterday announced that the exchange will gradually restrict access to residents of Japan. There has not been a clear response as to why this is happening and currently, the Japanese traders still have full access to the platform.While Binance CEO addresses compliance as key in Japan, its move in United States from last September shows that the exchange restricted the residents of the US from accessing Binance.com and instead launched Binance.US in a partnership with BAM Trading Services.
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Binance News

Binance Will Restrict Access To Japan Residents

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A new January 15 announcement is in the focus of the latest Binance news, showing that Binance will restrict access to all residents of Japan at an unspecified later date. The restriction will apparently be implemented gradually and the details are expected to be revealed later, as the announcement read.Right now, there are no restrictions in place and the Japanese users are able to operate the exchange normally. Previously, the Binance exchange was headquartered in Japan after existing China. As we reported in March 2018, the exchange moved the operations to Malta after an official warning by the Japanese regulators because of the lack of a national exchange license.Since then, several exchanges registered with the regulator. The rival Huobi had obtained the license in January 2019, while the Japanese corporation LINE and its BitBox exchange secured it in September.It is now very possible that as Binance will restrict access to the Japanese residents, it encountered similar regulatory difficulties despite not legally resident in the country. As the crypto exchange Kraken ceased to provide services to Japanese residents in April 2018, citing the rising costs of doing business mainly due to the licensing requirements.However, there are not many new updates in this case in the latest cryptonews. What is also worth mentioning is that on January 9th, the digital asset marketplace Binance.US unveiled its mobile app for iOS and Android users after successful beta testing. With it, users can now trade over 25 digital currencies in real-time and track and analyze all the market movements while trading within ACH limits up to $30k, making wire transfers and making debit card payments.While reports show that Binance will restrict access to Japanese users, the app rolled out in the United States has shown big success and impressed the early users. The 4.4 star rating on Google Play and 4.9 star rating on the App Store are a solid proof for that. What's even more interesting is that the exchange said that this new app is just the start for its relatively young US arm. The CEO of BinanceUS Catherine Coley recently spoke about that, and said that "the app launch makes strides towards achieving one of our goals for 2020: to build an everyday product that’s a part of people’s everyday lives."
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