Cryptocurrency exchange Binance has issued a stern warning following some irregularities regarding the Ronin listing. The exchange noticed that some people with prior knowledge of the listing made purchases before the official announcement.
Binance reiterated that “non-disclosure” is a fundamental policy for all external listing partners. The exchange warned that the listing service of any project found to be violating this rule will be immediately terminated or the project token will be delisted. Binance urged all external listing partners to take this warning seriously.
The exchange says it has implemented a Personnel Trading Policy that includes a blackout period and strict restrictions on trading by both its employees and their relevant family members. Binance argued that it takes great care to put safeguards around non-public information to prevent insider trading.
According to the statement, any staff member found to be involved in the misuse of non-public information or other inappropriate behavior will be placed on a permanent blacklist. These people will not only lose their jobs at Binance, but will also be pursued to the fullest extent of the law and their reputations will be damaged.
Binance added that it will not hesitate to actively work with law enforcement on any possible criminal activity.
*This is not investment advice.