Oregon is among the states that have charged Binance for its money transmission license.US, following legal issues involving this bitcoin exchange’s former CEO, Changpeng Zhao. This action prohibits the bitcoin exchange from processing cryptocurrencycurrency for Oregon citizens.
Oregon’s move to revoke the license reflects growing US skepticism of Binance.Local authorities in the United States are stepping up their efforts to shut down the cryptocurrencycurrency exchange. In addition, one of the obstacles faced by recent projects is the resolution of operational snags, such as substantial personnel reductions due to banking issues.
On April 30, the Oregon Division of Financial Regulation explained why it took this action. They reported that the owner, Zhao, had been accused with breaking anti-money laundering regulations. Initially, Florida, Alaska, Maine, North Carolina, and Connecticut prohibited Binance.US.
Consumers in Oregon, where the tax rate has increased this year, are encouraged to seek advice from tax professionals before proceeding with liquidation or transfer.
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