The #Binance Market Limited ban in the UK made me sell my $COIN tokens!
UK Crypto FUD
“UK Financial Authority bans Binance” , “Binance banned from advertising and establishing UK based activity” or ““Binance is not permitted to undertake any regulated financial activity” were the top news in Great Britain. Lets clarify from the beginning that the cryptocurrency holders and traders will still be able to use Binance without any restrictions.
This focused FUD was aimed to one of the top crypto exchanges, as the UK financial watchdog ordered to Binance to cease all regulated activities, advertising and the promotion of rapid gains by investing in cryptocurrencies.
The FCA didn’t connected Binance to money laundering and the ban measures are set only for the UK based Binance Markets Limited with the note that no other entity in the Binance Group holds any form of authorization for activity in the UK.”
It is understood Binance Markets had applied to be registered with the FCA — a standard requirement for any UK financial entity offering digital assets and exchange services — last month, but recently withdrew its application after meeting uncompromising resistance from the regulator. All records and information relating UK customers must be forwarded to the FCA until Wednesday, the 30th of June.
This ban is strange and unexpected as the FCA gave Binance Markets the clearance to open an establishment in London. This reminds me about the UK ability to deal with crypto…
Read this story from PVMihalache — and all the best stories on Medium.
The author made this story available to Medium members only. Upgrade to instantly unlock this story plus other member-only benefits.
Access all member-only stories on Medium
Dive deeper into the topics that matter to you
Get in-depth articles answering thousands of questions
Achieve your personal and professional goals