![]() Those guidelines prompted several crypto firms, including Binance Markets Limited, to withdraw their applications to officially register with the FCA. The FCA’s move comes almost a month after the regulator issued a statement, saying that a “significantly high” number of crypto firms were failing to meet the country’s recently issued requirements on preventing money laundering. We are actively keeping abreast of changing policies, rules and laws in this new space. We take a collaborative approach in working with regulators and we take our compliance obligations very seriously. In a statement on Twitter, Binance noted Sunday that the affiliate targeted by the UK restrictions is a “separate legal entity” from Binance.Įven though the FCA’s move bars Binance Markets Limited from offering regulated services in the country, non-registered firms like can still interact with residents in the UK, the FCA said. (No other entity in the Binance Group holds any form of UK authorisation, registration or license to conduct regulated activity in the UK).” ![]() Due to the imposition of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA. “BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE UK. Akio Kon/Bloomberg via Getty Imagesīy the same date, the FCA said, the company must add a warning in a prominent place on its website and mobile app that reads: The regulatory move will still allow UK residents to access, the company said, but the FCA added that Binance, the world’s largest crypto exchange by trading volume, has until the close of business on Wednesday to remove all advertising and financial promotions it currently has up. That represents a surge of more than 5 percent from a low of $32,500 on Sunday evening, according to Coindesk’s Bitcoin price index. The digital currency was going for more than $35,000 early in the day before falling slightly back to $34,300. The UK’s Financial Conduct Authority announced Saturday that Binance Markets Limited, the company’s UK affiliate, “is not permitted to undertake any regulated activity in the U.K.”ĭespite news of the UK crackdown, Bitcoin was actually trading higher Monday morning. The United Kingdom’s financial regulator has banned the popular cryptocurrency exchange Binance from operating in the country - as governments around the world consider how to regulate the burgeoning sector. SBF fighting post-extradition charges in Bahamas court Judge blasts SBF’s bid to toss fraud charges in FTX cases: ‘Extraordinarily imaginative’ ![]() ![]() SEC’s regulations on dangerous crypto are an uneven mess Newly divorced mom scammed of entire $100,000 401k savings in Tinder ‘pig butchering’ scheme ![]()
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