Is "Anbi" Legal? Let's First Clarify What It Is
"Anbi" is a common abbreviation many people use for Binance. Binance is the world's largest cryptocurrency exchange by trading volume, founded by Changpeng Zhao (CZ) in 2017. So the question is: is this world's largest exchange legal?
To answer this question, we need to analyze from multiple dimensions. Before that, if you're interested in Binance, you can register on Binance through official channels to experience it firsthand, and also download the Binance APP to explore its features.
Binance's Global Licensing Status
Regions Where Licenses Have Been Obtained
As of 2026, Binance has obtained operating permits or licenses in numerous countries and regions worldwide, including but not limited to:
- France: Registered as a Digital Asset Service Provider (DASP)
- Italy: Registered as a Crypto Asset Service Provider
- Spain: Registered as a Virtual Asset Service Provider
- Bahrain: Licensed as a Crypto Asset Service Provider
- Dubai: Licensed by the Virtual Assets Regulatory Authority (VARA)
- Japan: Licensed through acquisition of Sakura Exchange Bitcoin
- India: Registered as a Financial Intelligence Unit reporting entity
Compliance Team Building
After 2023, Binance underwent sweeping compliance reforms. New CEO Richard Teng himself is a veteran from the financial regulatory field, and Binance's compliance team has expanded significantly.
Binance and US Regulation
The 2023 Settlement
In November 2023, Binance reached a historic settlement with the US Department of Justice. Binance paid approximately $4.3 billion in fines, and founder CZ pleaded guilty and resigned as CEO. This was one of the largest enforcement actions in cryptocurrency history.
After the Settlement
Many assumed this meant Binance was "done," but the reality was quite the opposite. Through the settlement with the US government, Binance obtained permission to continue operating. While the $4.3 billion fine was enormous, it also meant Binance had "bought" a degree of legitimacy.
Post-settlement Binance places even greater emphasis on compliance and accepts stricter regulatory scrutiny.
Legal Status by Region
Regions Where Operations Are Permitted
In most European countries, the Middle East, Southeast Asia, and Japan, Binance operates as a licensed exchange.
Restricted or Prohibited Regions
In the US, Binance serves American users through the independently operated Binance.US. In a few countries where cryptocurrency trading itself is banned, Binance naturally cannot operate.
China
Binance does not provide services within mainland China and cleared out domestic users in 2021. However, there is no explicit legal prohibition on individuals using overseas platforms.
Binance's Security Track Record
SAFU Fund
Binance established the Secure Asset Fund for Users (SAFU), setting aside a percentage of platform revenue to compensate user losses in extreme scenarios. The fund exceeds $1 billion.
Historical Security Incidents
In 2019, Binance suffered a hacking attack where approximately 7,000 Bitcoin were stolen. However, Binance immediately activated the SAFU fund to fully compensate all user losses — no user suffered any financial harm. This incident actually strengthened user confidence in Binance.
Security Technology
Binance employs a multi-layered security architecture including cold/hot wallet separation, multi-signature requirements, and real-time risk control systems.
How to Judge Whether an Exchange Is Reliable
Check Licenses
Whether it has obtained operating licenses in multiple countries.
Check History
Exchanges that have operated longer and have more users are more reliable.
Check Transparency
Whether it regularly publishes Proof of Reserves and accepts third-party audits.
Check Incident Response
Whether it can properly handle security incidents and provide full compensation.
Conclusion
Binance (Anbi), as the world's largest cryptocurrency exchange, operates legally in most regions around the globe. Although it weathered the 2023 US regulatory storm, through its settlement and compliance reforms, Binance has actually become more standardized. For ordinary investors, using an exchange like Binance with comprehensive licensing and security guarantees is a relatively reliable choice.