Binance, UK’s biggest cryptocurrency site blocked

Financial supervisor has come in the way of Binance’s activities: it will not be able to operate without prior authorization

Binancelargest trading platform cryptovalue of the world, it was Forbidden In UK. the right to Awareness British Financial determined that the company Will not done no more games activities Warning in the country too consumers of Be careful advertising that promises high Return On investing in electronic currency.

In a notice dated June 25, Financial Conduct Authority (FCA) said that Binance Markets Limited, a British company in Binance, “Not to do any activity without the prior written consent of the FCA” In uk. Binance platform has a platform centralized exchange online that offers users a variety of products I financial Services, which includes buying and trading a wide range of digital currencies, as well as purse digital, titlehandjob Conti savings and sum loan. Binance Group is currently headquartered in the Cayman Islands, while Binance Markets Limited is a subsidiary based in London.

WhiteNegotiate The supply of electronic money in the UK is not directly regulated financial instruments Requirements related to cryptocurrency aauthority. The authority did not explain why it took action against Binance, which says BBC, previously stated that he is fulfilling his legal obligations “very seriously and to commit “In a collaborative manner with regulators and law enforcement agencies”. FCA is stepping up supervision On cryptocurrency trading, which has become very popular in the UK and other countries. FCA’s decision comes at a time when national authorities around the world are making it Pressure To regulate cryptocurrency platforms.

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gives January, FCA requests all companies offering services related to cryptocurrency Signing in and prove complaint for the rulesanti Money Laundering. However, this month he said only five companies had signed up and most were not yet complying with established rules.

this This is not the first time that is being investigated by Binance officials financial supervision for its operation. In United States of america one of the company entities, Binance Holdings, has been the subject of aInvestigation by the US Securities and Exchange Commission (Sec), in particular with respect to recycling money and ai tax offense. In April, the SEC issued Warning Similar to broadcast by FCA to US consumers. while in June financial services agency (FSA) Dell Japan Warns Binance for the second time in three years that it is operating in the country without permission.

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About the Author: Forrest Morton

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