Binance to Stop Offering NOK Trading Pairs

Binance, one of the most prominent blockchain ecosystem and cryptocurrency infrastructure providers, has announced several changes to product offering in Norway.

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Binance mentioned that it will be discontinuing NOK trading pairs, NOK payment options and Norwegian language website support, effective immediately. In addition, the exchange highlighted that it does not maintain any official Telegram or other online communication channels in Norwegian.

“Our aim is to create a sustainable ecosystem around blockchain technology and digital assets,”the company stated.”Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.”

These months, a growing list of regulators worldwide have issued warnings against Binance. Earlier in August, De Nederlandsche Bank (DNB), the central bank of the Netherlands, has warned against Binance as it provides crypto services in the Netherlands without the required legal registration.

Binance has ramped up its compliance efforts by hiring multiple former regulatory and government officials in top roles. The exchange has appointed the former US Treasury Criminal Investigator Greg Monahan as the company’s Global Money Laundering Reporting Officer (GMLRO).