SC cracks down on Binance, tells investors to take their money out

The SC said Binance was illegally operating a DAX despite being included in the SC’s investor alert list in July 2020.

KUALA LUMPUR: The Securities Commission on Friday took enforcement actions against major cryptocurrency exchange Binance for illegally operating a digital asset exchange (DAX) and told Malaysian investors to stop dealing and investing with it.

In a statement on Friday, it said those who currently have accounts with Binance are strongly urged to immediately cease trading through its platforms and to withdraw all their investments immediately.