...to gate-keep in a world with no fences

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Why so much hate about Binance?

One last piece of news from Italy, The Italian Authority for the Financial Markets, ie. Consob, has stated this morning:

Binance Group companies are "are not authorized to provide investment services and activities" in Italy, not even through the exchange's website, "whose sections called 'derivatives' and 'Stock Token', relating to instruments related to crypto assets, were previously also written in Italian,"

Honestly and after reading the statement, it does not seem so serious to me nor is it clearly prohibiting the use of the Exchange in Italy, but it is again only warning its population about the risk related to carrying out financial operations with cryptocurrencies... the same old story.

It is clear that the situation in Europe is becoming more tense for BINANCE to continue offering its products.

What seems completely absurd to me is that these types of statements point only to one crypto exchange, the largest in the world, that is true, but what about the rest?

I know of dozens of exchanges operating in Europe and, to tell the truth, I do not see substantial differences between what they offer.

In my opinion, when it comes to centralized exchanges, Binance has achieved much more than the rest when it comes to crypto adoption.

Binance has made the difficult easy and I have no doubt that behind the reasons why crypto is trending today is due, in part, to the work of Binance and, of course, its main brain CZ.

Is it possible that Binance's great cardinal sin is the success of its project?

Honestly, and looking back, Binance was founded by CZ in July 2017, in less than 3 years it became the largest exchange in the world and today, it is an important the Defi provider via the Binance Blockchain, that grows the most (pancakeswap) due to its low-fee strategy.

It is clearly possible that the reason for the authorities' disregard for Binance is its importance at the level of capital movement.

When the traditional financial authorities begin to realize how serious the outlook is getting with respect to the capital that is converted from FIAT to CRYPTO and that the proportion of its benefits is decreasing over time due to a little monster that does not leave to grow day after day, they have no choice but to "threaten" with the ban... without knowing that, no one can put doors to the field.

As we say in my country "It's hard to gate-keep in a world with no fences."

@toofasteddie

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