Cayman Islands authorities to investigate Binance for claiming to be incorporated there
The Cayman Islands Monetary Authority (CIMA) has said that despite claiming to be incorporated in the territory, Binance is not licensed by the regulator to operate a crypto exchange business from or within the islands.
In Friday’s announcement, the regulator specifies that neither Binance nor its associated companies, including Binance Group and Binance Holdings Limited, are "registered, licensed, regulated or otherwise authorized in the Cayman Islands."
The regulator created this announcement because Binance mentioned in multiple press reports that it is a crypto exchange based out of the Cayman Islands.
In the Cayman Islands, there are specific laws governing virtual asset services or custodial services that require such businesses to be either regulated or licensed under the Virtual Asset (Service Providers) Act, 2020. However, existing regulated businesses can obtain an exemption under VASPA.
The regulator has launched an investigation into the cryptocurrency exchange to verify whether Binance or its subsidiaries operate from the island.
According to Binance the exchange does not operate from the Cayman Islands
A spokesperson of Binance replied to the situation by saying, "Binance.com has always operated in a decentralized manner. Binance.com does not run a cryptocurrency exchange out of the Cayman Islands, as reported incorrectly in some media articles previously.""We do, however, have entities incorporated under the laws of the Cayman Islands performing activities that are permitted by law and not related to operating crypto-exchange trading activities. We will work with regulators to address any questions they may have," the spokesperson added.
The Cayman Island business registration record shows that at least Binance Holdings Limited is incorporated as a business entity within the territory.
Binance has gotten in trouble with multiple regulators across the world
After Binance received a warning in Japan and also had to close its doors in Canada, the exchange was also reprimanded by the British FCA. According to the British watchdog, Binance offered services through Binance.com to UK customers, which they were not allowed to do. This resulted in UK customers not being able to deposit or withdraw from the exchange to their bank accounts.Want to read more about Binance and its regulation issues? Read Cryptonary's take here.
Continue reading by joining Cryptonary Pro
$1,548 $997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
24/7 access to experts with 50+ years’ experience Terms
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
Recommended from Cryptonary
