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The most interesting thing is that a person deposits funds into an account and then at once gets an email stating that the respective funds cannot be accessed because they have come from illegal operations. At present, they intend to file a lawsuit in this respect. A group of consumers has stated that their accounts were stopped by Binance for approximately 5 months.

Bloomberg adds that Binance also previously advised Americans to use a VPN to hide their location when seeking access to its exchange. Though the company has repeatedly rejected the claims, crypto news sites have said its restrictions on Americans can easily be bypassed. Regulators are also investigating whether Binance permitted Americans to make illegal trades, sources told Bloomberg . It's prohibited from doing business in the US because it offers securities that aren't registered with the Commodity Futures Trading Commission.

As always it’s far safer for you to store your funds on a non-custodial wallet; and preferably, a reputable hardware wallet like the Ledger Nano X. That way, even if every single exchange in existence gets hacked, your funds will remain untouched.

The coin recently skyrocketed 1000%, making it one of the fastest-growing Binance Smart Chain tokens in the market today. The crypto project has also launched incredible decentralised products over the last few weeks. New York, New York--(Newsfile Corp. - November 14, 2021) - Bitrise is a DeFi protocol built on Binance Smart Chain.

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US officials worried about the lack of oversight over digital assets fear they are being used to cover up illegal transactions, including drug deals. The company's entanglement with federal law enforcement arrives amid growing regulatory scrutiny of cryptocurrencies. If you ask experts, they'll tell you that lawmakers are facing the eternal dilemma of playing catch-up with technological innovation. Meanwhile, the IRS has reportedly been expanding its ability to track individuals who owe taxes based on cryptocurrency investments.

If you think some people you know are interested in Bitcoin or cryptocurrencies in general, feel free to share our articles to hopefully prevent catastrophic hacks and scams. CryptoSec was found solely to help people learn how to protect their bitcoin and cryptocurrencies from scammers and hackers.

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