In recent cases, Binance US and the SEC (Securities Exchange Commission) are going to be closed forever and Binance US will turn back into the world’s top Crypto Exchanges with the SEC’s approval. Most Crypto Investors are planning to invest in Binance US to secure their Crypto Investments. Now Binance has also agreed that he can give $4 billion pay to the SEC and US Congress and all the criminal cases between SEC and Binance will be closed. It seems that top US and European Crypto Exchanges or USD-backed Crypto Exchanges will pay Billions of USD to the SEC to clear all cases against their Crypto Businesses in the US and Outside the Country.
Binance will also become the number 1 crypto exchange in the US because the benefit of this is only for CZ and Binance US because up to 75% of crypto investment from the US can be done inside Binance. Due to all this, Binance can sell up to 10% of its Crypto Assets in its Proof of Reserve so that in the future no further SEC regulations can be imposed on them and the SEC will not be able to stop Binance’s for the next 5 years.
Binance Agrees to Pay over $4 Billion to Resolve US Criminal Case
— Whale | Dinobet.io (@WhaleChart) November 20, 2023
Although till now the SEC has said that it will withdraw all the charges against Binance, from now on, Binance will still not be able to get regulation. So now Binance will sell Solana and Ethereum from his reserves and get all his criminal cases cleared with the SEC. Maybe there will be the biggest opportunity for Binance to make deals with Coinbase, Grayscale, and US crypto exchanges and banks.
Why SEC Demand $4 Billion USD from Binance to solve all criminal Cases Against Binance, Kraken, and FTX?
This $4 billion USD charge is only to end all the cases going on between Binance and SEC and not to regulate picking within Binance. By the way, after Grayscale and Coinbase, perhaps the SEC can also regulate the trust and the Binance. However, for now, we can assume that after Binance, even Coinbase, Kraken, FTX, and Robinhood will face the same conditions and pay billions of USD for Crypto Regulation.
However, after the case, many crypto exchanges may be closed, such as in Europe, Asia, and Africa, which is bad news for USD-based exchanges. SEC may end cases against many crypto exchanges due to Bitcoin ETFs by 2024 if those crypto exchanges qualify. It is possible that the SEC can now take over all crypto exchanges and regulate Bitcoin and crypto by 2024. After filing, there are many cases against Kraken, FTX, Robinhood, Gemini, and MetaMask and it is possible that crypto exchanges will have to pay a huge amount.