Binance banned in UK (crypto ban UK)
Binance UK FCA: The financial regulator of Britain issued an order to Binance for stopping all its activities (Binance banned in the UK) and they also issued warnings to the consumers about using this platform which is coming under inspection globally.
FCA (Financial Conduct Authority) said Binance Markets Limited, Binance’s UK, “must not carry out any regulated activities”
Binance Twitter support (Binance response)
Binance responded with a tweet in regards to FCA reports, we are aware of the recent reports of FCA UK notice with the relation to Binance Markets Limited (BML).
Binance said, BML is a separate entity and it does not propose any products or services through the Binance website Binance.com
Binance tweeted again adding, The FCA UK notice has no direct impact on the services which are provided on their website Binance.com, our user’s relationship has not changed.
Is Binance regulated in UK?
Binance UK Regulation
The trading of cryptocurrencies is not directly controlled in the UK. Offering services like as trading of cryptocurrencies do not need authorization.
The FCA (Financial Conduct Authority) of the UK has told Binance (BML), it must display a notice on its social media channels and website binance.com by June 30 by stating, “Binance Market Limited is not allowed to take any activity (regulated) in the UK”
BMA should also secure all data or records of UK users and also it must inform the FCA by July 2 that it has been done.
Binance Japan ban
Japan’s regulation authority also told on June 25 that Binance was operating illegally in the country (a notice was displayed on Japan’s Financial services agency website).
Binance Germany warning
In Germany, its financial regulation authority BaFin also warned the exchange will be fined for the offering of digital tokens without an investor prospectus.
Binance United States
Bloomberg also reported last month about some officials from the United States Justice Department and Internal Revenue Service (who investigate tax offenses and money laundering) had asked for information from individuals related to the Binance business.
Source: News Agencies
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