Binance considers pulling back from US

SEC has been creating multiple issues for the crypto companies operating in the US and this is not the first time. Now Binance is the one and they are also considering pulling back from the US. This is because of the recent BUSD scenario where they had to go through a lot. We have seen the situation with XRP where the case is still going on and until now no clarity has been provided that what's going to happen. Usually, this type of lawsuit takes time and maybe the case is that to avoid this kind of scenario the companies will try to operate in the US.

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Having a legal framework is very important for any company to operate in any country. This is a basic but mandatory requirement and to avoid any situation where government bodies get involved is to follow fair practices all the time. Binance is the world's biggest crypto exchange and now they have given a signal that they might be giving up on the us to grow the business. This is not good for the customers in the US because if that happens then probably they are not going to get more innovations and development that might bring better use cases of Crypto.

Self-study is always the preferred option but at the same time, we also need to have exchanges where buying and selling is easy because not everyone holds Crypto. We need a platform where we can buy and even can bring a lot of new users to do the same because that is what is needed in the Crypto community to add more value. The US is not the only country where things are looking to be complicated but even India is one of the countries where things are already complicated.

Coinbase has been in a situation in India where they started their operation by offering easy-to-buy crypt options using the UPI payment method. This payment method is very easy to use and available to a major chunk of people in the country. Post their launch of the service in India the government intervene and because of the pressure they had to shut it down. Even the exchange has given up in the country and they have stopped their operation permanently. Needless to say that this has affected so many people in terms of employment.

We cannot keep looking at Crypto as a just method to trade instead it is one of the industries that is creating a variety of jobs across the countries for different positions and roles. If any exchange decides to stop the operation or pull back from further investment and development then it is going to impact the country for sure.

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