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Binance accepts to block corporate account contains $1 million due to law regulators request

On August 25, a Twitter user, Baking Bad, who claimed to be an active Tezos tools contributor accused Binance for freezing and zeroing out his corporate account containing $1 million in assets, via tweet.

Binance replied to the Baking Bad tweet and said that the account was freezed due to a law enforcement request, for which the user has been continually notified.

Moreover, Binance also said that the exchange is liable to cooperate with the authorities and answer their request. In the closing remark, Binance said, “the same as any other exchange.”

Binance actions are justifiable because as an exchange business that aims to operate globally, every action and effort are made to scale its business and expand its services.

Moreover, it would be impossible to create an intensive and broadly crypto exchange like Binance without complying with the regulatory requirements of the jurisdiction, getting licenses and fulfilling the law enforcement requirements.

The crypto fans themselves entered into the space getting used to the centralised exchanges, where one can satisfy each and every crypto wants in some clicks.

According to the latest news, the comfort of decentralised and judging the activities of some decentralised sites such as Uniswap is misleading, as, with some well-known web2 platforms like YouTube and Instagram, your account does not belong to you.

So, if crypto enthusiasts are searching for a decentralised future, they should consider moving to less-helpful but at least noncustodial solutions.

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