This research paper explores the regulatory challenges faced by Binance, one of the world’s largest cryptocurrency exchanges. Binance has experienced scrutiny and legal challenges from various financial regulatory bodies globally, including the U.S. Securities and Exchange Commission (SEC), UK's Financial Conduct Authority (FCA), and Japan's Financial Services Agency (FSA). The study analyzes the causes, implications, and outcomes of these regulatory actions, and assesses their impact on the broader cryptocurrency market. Through a qualitative and case-based approach, this research identifies key themes around decentralized finance, compliance gaps, and global regulatory fragmentation.