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Binance, UK Blocks Largest Cryptocurrency Site – Wired

BinanceThe largest trading platform in the world encryption of the world, was forbidden In the United kingdom. Power vigilance British Finance decided that the company Will not no longer playing any Activities In the country, a warning too consumers From Be careful Ads that promise good yields On investments in electronic currencies.

in a Notice on June 25th, the Financial Conduct Authority (FCA) said that Binance Markets Ltd, a British company on Binance, “No activity shall be undertaken, without the prior written consent of the Financial Conduct Authority (FCA).” in the UK. Binance is a platform central exchange Online offers users a variety of products e Financial Services, including buying and trading a wide range of digital currencies, as well as governor Digital AddressesAnd county savings and even loans. Binance Group is currently headquartered in the Cayman Islands, while Binance Markets Limited is a subsidiary based in London.

while thePurchase From electronic money is not directly regulated in Britain, supply financial instruments Related to cryptocurrency requires aAuthorization. The authority did not explain the reason for taking action against Binance, which, we read BBC, previously stated that he bears his legal obligations “very seriously and commitment “With regulators and law enforcement agencies in a collaborative way”. The Financial Conduct Authority (FCA) ramps up its work Supervisor In cryptocurrency trading, which has become very popular in the UK and other countries. The Financial Conduct Authority (FCA) decision came at a time when national authorities around the world are doing this pressure To regulate cryptocurrency platforms.

Give JanuaryThe FCA has asked all companies that provide services related to cryptocurrency in sign in and prove it compatible for the rulesAnti money laundering. However, it said this month that only five companies had registered and most of them had not yet adhered to the applicable rules.

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this is This is not the first time That Binance is under scrutiny by the authorities Financial supervision for its operations. In the United States of America a company entity, Binance Holdings, was a topicInvestigation by the US Securities and Exchange Commission (SEC), in particular with regard to Recycling of money and ai tax offenses. In April, the Securities and Exchange Commission issued warning For American consumers similar to what the FCA broadcasts. While in June Financial Services Agency (FSA) DEL Japan Binance has warned for the second time in three years that it is operating in the country without permission.

Maggie Benson

"Bacon trailblazer. Certified coffee maven. Zombie lover. Tv specialist. Freelance communicator."

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