The post Binance’s Market Dominance Shrinks in the Wake of Regulatory Clampdown appeared first on Coinpedia Fintech News
Binance, a prominent global cryptocurrency exchange, is currently facing increased scrutiny from regulators in the United States. The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have initiated investigations into potential violations of securities laws and money laundering regulations by Binance.
The intensified regulatory scrutiny represents a significant setback for Binance, given its status as one of the leading cryptocurrency exchanges worldwide. The operations of Binance in the United States constitute a significant revenue stream for the exchange, making regulatory scrutiny a matter of considerable importance.
Binance witnesses a sharp decline in average monthly volume
According to the latest data provided by CCData to FT, Binance, which had a 57.5% average monthly volume, has now plummeted to 43%.
Binance’s notable decrease in
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