Binance Connect ceased operations on Aug. 16 due to the termination of support by Checkout.com. On Aug. 18, Binance conveyed that they are contemplating legal measures against Checkout.com, their former payment collaborator.
The root of the potential legal conflict lies in communications made by Checkout.com to Binance on Aug. 9 and Aug. 11. As per Forbes, Guillaume Pousaz, the head of Checkout.com, concluded their partnership with Binance, pointing to regulatory actions and concerns over compliance, Anti-Money Laundering, and sanctions.
A Binance representative stated, “We don't concur with Checkout's reasons for ending the partnership, and we're reviewing potential legal avenues.” They emphasized that transaction services continue to be accessible on their platform.
Yet, this termination led Binance to halt Binance Connect, a
#Adoption, #Binance, #CheckoutCom, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations
First found on: Binance Terminates Ties with Checkout.com and Evaluates Legal Recourse
Comments
Post a Comment