11/4/2022 0 Comments Binance desktop app has warning![]() ![]() ![]() Since January, the FCA has required all firms offering cryptocurrency-related services to register and show they comply with anti-money laundering rules. The FCA is stepping up its oversight of cryptocurrency trading, which has soared in popularity in Britain along with other countries around the globe. ![]() The regulator did not explain why it had taken these measures.īritish citizens will still be able to access Binance's services in other jurisdictions. It must also secure and preserve all records relating to UK consumers and inform the FCA this has been done by July 2. The FCA has told Binance that by June 30 it must display a notice stating "BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE UK" on its website and social media channels. While trading of cryptocurrencies is not directly regulated in Britain, offering services such as trading in cryptocurrency derivatives does require authorisation. We are actively keeping abreast of changing policies, rules and laws in this new space," a spokesperson said.īinance announced in June last year that it had bought an FCA-regulated entity and would use it to offer cryptocurrency trading services using pounds and euros. "We take a collaborative approach in working with regulators and we take our compliance obligations very seriously. Binance said in a statement that Binance Markets, which it acquired in 2020, was not yet using its regulatory permissions, and that the FCA's move would not impact services offered on its website. ![]()
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