Binance Not Authorised to Operate Crypto Exchange Within the Cayman Islands, CIMA Says

The Cayman Islands Monetary Authority announced on Thursday that Binance, the Binance Group and Binance Holdings Limited are not registered, licensed, regulated or otherwise authorised by the Authority to operate a cryptocurrency exchange from or within the Cayman Islands.

As recent press reports that have referred to Binance, the Binance Group and Binance Holdings Limited as being a crypto-currency company operating an exchange based in the Cayman Islands, the regulator reiterates that Binance, the Binance Group or Binance Holdings Limited are not subject to any regulatory oversight by the Authority.

At the same time, CIMA also said that it is currently investigating whether Binance, the Binance Group, Binance Holdings Limited or any other company affiliated with this group of companies has any activities operating in or from within the Cayman Islands which may fall within the scope of the Authority’s regulatory oversight.

Before this announcement, Binance was warned by the UK Financial Conduct Authority (FCA) for undertaking regulated activities in the UK without authorization. Recently, Japan's Financial Services Agency (FSA) also issued a warning against Binance​ for offering cryptocurrency exchange service in the country without registration.