Is Biying Exchange legal? Graphical tutorial for buying coins for newbies on Biying Exchange App

According to public information, Biying Exchange has not yet obtained certification or license from any legal regulatory agency. Due to its short operating time and lack of regulatory oversight, user funds are not guaranteed and there is a lack of legal recourse. It is recommended to carefully assess the risks and consider using a legally regulated platform.

Is Biying Exchange legal?

Answer: According to public information, Biying Exchange has not yet obtained certification or license from any legal regulatory agency.

Detailed description:

Biying Exchange is an emerging cryptocurrency exchange established in 2023. Due to its short time in operation, it has not yet been recognized by any major regulatory agencies.

In the cryptocurrency industry, the legitimacy of exchanges is crucial as it involves the safety of users’ funds and asset protection. Legally regulated exchanges typically adhere to anti-money laundering (AML) and know-your-customer (KYC) regulations to prevent criminal activity and protect users.

Exchanges that have not been certified by legal regulatory agencies have the following risks:

• Lack of regulatory oversight, which may lead to market manipulation and fraud
• User funds are not protected, and platform escapes or hacker attacks may occur
• Lack of law Recourse, users may not be able to get help when they encounter problems

Therefore, before using Biwin Exchange, users need to carefully assess their risks and consider using other platforms that have obtained legal supervision.

Biying Exchange app graphic tutorial for buying coins for beginners

Since Biying Exchange has not been recognized by legal regulatory agencies, we do not recommend users to use this platform. To purchase cryptocurrencies, it is recommended to use legally regulated exchanges such as Coinbase, Binance or Kraken.

The above is the detailed content of Is Biying Exchange legal? Graphical tutorial for buying coins for newbies on Biying Exchange App. For more information, please follow other related articles on the PHP Chinese website!