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Claiming that it was only the derivatives license of Binance Australia that was canceled, the exchange’s CEO on Thursday offered an explanation to clear any confusion. Earlier, CoinGape reported that the Australia Securities & Investment Commission (ASIC) said it was canceling the Australian financial services (AFS) license held by Binance. However, CZ clarified that the Binance Australia Derivatives business is being closed but the spot exchange will continue to operate in the country.
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Recently, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against the crypto exchange over regulatory violations in trading and derivatives related operations. The lawsuit came as a major shock to the crypto market recent times, especially because it is the world’s largest cryptocurrency exchange in terms of trading volumes.
CZ Explains Binance Australia Status
The Binance CEO revealed that there were only 104 users in the company’s derivatives business, in what could be a clear indication for possible reason behind the move. CZ said it was only after the company requested to do so that the Australian regulators canceled the derivatives license.
“There are some misinformation (and confusion) about Binance Australia. Binance Australia requested to cancel the derivatives license yesterday. The platform had exactly 104 users as of yesterday. Binance Australia will CONTINUE to operate the spot exchange in AU.”
In the recent times, CZ had been encouraging crypto community to “ignore FUD.”
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The Cardano founder has taken aim at a Reddit user for spreading “misinformation” about the proof-of-stake chain
In a recent tweet, Charles Hoskinson, founder of Cardano, poked fun at the “misinformation” rampant across Reddit threads related to Cardano’s computing layer (CL) and settlement layer (SL).
Hoskinson has noted that sidechains are effectively the materialization of Cardano’s envisioned CL.
He asked those pushing this false narrative to “resume eating paint chips now.”
Hoskinson’s anger was likely directed at Reddit user Awhodothey who criticized a recent Cardano report prepared by blockchain firm Messari.
Awhodothey recently debunked a quote from a the report in a very detailed manner. In the report, it was claimed that “Cardano developed Ouroboros Classic as its first PoS consensus mechanism and split the functions of computation and settlement into separate layers.” Awhodothey responded to this claim by saying that Hoskinson did indeed say they were going to create a separate computational layer, but that never actually happened.
Awhodothey also pointed out that none of the smart contract developers on Cardano have managed to build a decentralized smart contract with their own off-chain consensus mechanisms yet.
The user concludes his comment saying “All they have is centralized apps or very simple decentralized txs so far.”
Moreover, the user argued that Cardano is not actually decentralized since Input Output is the only entity that does anything for Cardano.