•Binance Exchange is celebrating its 6 year anniversary, having achieved a tremendous amount in that time.
•The crypto exchange began with only five tokens and operations in two languages and has since grown to a global platform with over 140 million users.
•Despite regulatory roadblocks, the exchange has managed to survive the crypto winter of last year and expand its presence around the world, despite facing some regulatory scrutiny as well.
Binance Exchange Celebrates Six Years
Binance Exchange is celebrating its 6th anniversary today, having achieved a tremendous amount in that time. The digital asset service provider began operations as a crypto-to-crypto entity six years ago after successfully raising $15 million worth of digital assets.
Initial Start
At the start, Binance had only five tokens and operated in two languages. It was established in China but two months after it began operations, it hit a regulatory roadblock when the Chinese government imposed regulations on cryptocurrency trading and ICO projects. Despite this setback, Binance was able to continue expanding and now supports over 600 tokens across 40 different languages.
Growth Around The World
In addition to its global reach, Binance has also received licenses and approvals from 17 countries to offer its products. Its CEO confirmed that altogether Binance US has 43 state Money Transmitter Licenses (MLTs). Last month alone saw an expansion into Kazakhstan with a local exchange launch there too.
Crypto Winter Survived
Binance is also proud to have survived the crypto winter of last year which shook the entire industry, leaving many crypto platforms bankrupt or struggling financially. CZ clarified that while they had previously invested in some of these entities, they had no exposure when these businesses failed or went bankrupt due to significant drops in prices for their tokens listed on Binance below their ICO prices.
Regulatory Scrutiny
Despite all its successes over this period of time however, Binance still faces some regulatory scrutiny due to its global reach and scope of services offered through their platform.
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