This article will update the situation of leading cryptocurrency exchange Binance in several jurisdictions.
South Korea's National Police Agency has announced plans to set up a comprehensive system that will allow them to request wallet address verification and freeze funds not only from five crypto exchanges in the country but also from other crypto exchanges. global exchanges like Binance.
In a move to strengthen resistance to illegal activities related to cryptocurrencies, the police agency will convene a “Cryptocurrency Exchange Working Conference” to discuss the implementation of the system. this new system.
Since last October, the Korean police has actively cooperated with five domestic cryptocurrency exchanges, including Upbit, by establishing a "Cryptocurrency Transaction Verification System". The system allows the police to search for wallet addresses associated with ongoing investigations and determine which exchanges are managing the assets involved. By expanding the reach of the system to include global exchanges like Binance, the police aim to further strengthen their ability to track and freeze illicit funds across multiple platforms.
In addition to discussions on integrating Binance into the verification system, the conference will also cover strengthening the existing system for domestic exchanges and reinstating the police hotline, a network dedicated liaison for law enforcement agencies.
Global crypto exchange Binance has announced that it will launch a cryptocurrency trading platform in Japan this summer.
“We are pleased to announce that we have created a new fully compliant platform in Japan. The new platform will launch this summer. We will announce the launch date and provide more details in the coming months.”
Binance's global platform will stop providing services to Japanese users on November 30.
“Global platform users will be able to switch to the new local platform through a new identity verification (KYC) process, which will be available after August 1, 2023.”
From December 1, all Binance.com accounts owned by Japanese users will be switched to “withdrawal only mode,” Binance detailed. Additionally, Binance noted that the new Japanese platform “will not provide Derivatives services at an early stage in order to comply with local regulations.”
As for which crypto tokens will be available on the new Binance Japan platform, the crypto company explained:
“Binance Japan will only have a crackdown amount of tokens available for spot trading at an early stage, and there are crackdown on certain product offerings in order to comply with local regulations. We will add more products and services as we can.”
Binance cited reduced Liquidity in the Australian Dollar (AUD) trading pairs as the cause of the drop in prices of Bitcoin and other digital assets on its Australian platform.
A Binance spokesperson explained that some users “have withdrawn AUD from the platform in anticipation of the platform’s AUD withdrawal service being suspended on June 1.” As a result, Bitcoin and other digital currencies paired with the Australian Dollar face reduced Liquidity , affecting their prices.
“We will delist the remaining AUD pairs in line with the closure of off-ramps fiat services. We remain focused on securing additional fiat relationships to serve our users.”
Meanwhile, a number of Australian traders have identified major arbitrage opportunities available from the bearish breakdown.
Data from CryptoComapre shows that the leading digital asset is trading at AU$34,250 (US$22,345) on Binance Australia at press time. This is significantly lower than the price on other exchanges such as IndependentReserve, Luno and Kraken, which is over AU$42,000 (US$27,401). 
Source: CryptoCompare
The price drop is also evident on other digital assets like Ethereum. ETH is trading at AU$2,375 (US$1,553) on Binance Australia, while reaching over AU$2,900 (US$1,897) on rival exchanges.
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According to AZCoin News
