Oregon has become the sixth state to take action against Binance.US by revoking its license to operate in the state. This decision prohibits Binance.US from accepting money for transmission, as well as holding or selling fiat or cryptocurrency for Oregon consumers. The Oregon Division of Financial Regulation made this announcement on April 30, stating that they were following the lead of five other states that had already taken action against the exchange after its CEO, Zhao, pleaded guilty to violating Anti-Money Laundering laws. Florida was the first state to suspend Binance.US’ license in November, followed by Alaska in January, North Carolina and Maine in January, and Connecticut in April. It is worth noting that Binance.US never obtained licenses in New York, Texas, Vermont, and Hawaii. Additionally, while Binance.US claims to have licenses in Georgia and Ohio on one page of its website, another page states that its services are unavailable in these states. Binance also encountered difficulties when it attempted to work with U.S. banks, leading to significant layoffs. In June, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance, accusing it of failing to register as an exchange, broker, and clearing agency, as well as engaging in manipulative trading and commingling funds with its parent company, Binance.
Binance.US faces further resistance from states as it loses its 6th license