Lens1000
VIP Contributor
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, the world's largest crypto exchange by trading volumes, was set to launch its own digital asset marketplace in Britain. However, it was one of several crypto firms that withdrew applications to register with the FCA due to not meeting anti-money laundering requirements.
The FCA spokesperson clarified that the scope of the ban was limited. Though Binance Markets Limited is banned from offering regulated services in Britain, non-registered firms can still interact with U.K. consumers. That means Binance could still offer Brits crypto trading through its website
The FCA pronounced that the ban is limited and they are more likely to lift it provided that binance fulfil certain conditions.
The impact of the ban on binance will be very detrimental because shortly after UK made the pronouncement, Japan also accused binance of carrying out its activities in the country without notice
What's your take on this?
Binance, the world's largest crypto exchange by trading volumes, was set to launch its own digital asset marketplace in Britain. However, it was one of several crypto firms that withdrew applications to register with the FCA due to not meeting anti-money laundering requirements.
The FCA spokesperson clarified that the scope of the ban was limited. Though Binance Markets Limited is banned from offering regulated services in Britain, non-registered firms can still interact with U.K. consumers. That means Binance could still offer Brits crypto trading through its website
The FCA pronounced that the ban is limited and they are more likely to lift it provided that binance fulfil certain conditions.
The impact of the ban on binance will be very detrimental because shortly after UK made the pronouncement, Japan also accused binance of carrying out its activities in the country without notice
What's your take on this?