Binance Is Now Compliant According To The UK Regulator

The United Kingdom Financial regulator, the Financial Conduct Authority (FCA), said on Wednesday that Binance Markets Limited, a subsidiary of Binance Groups, has followed all the local regulatory requirements of the United Kingdom.

- Advertisement -

“On June 25, 2021, the FCA imposed requirements on Binance Markets Limited. The firm complied with all aspects of the requirements” the FCA stated.

The Financial Regulator in the UK halted the operations of Binance in the country. It followed with several other countries also warning the cryptocurrency exchange platform. Most of the warnings were majorly related to investors as a result of the unregulated activities of Binance, some regulators went further by taking enforcement actions against Binance.

The Thai SEC filed a criminal complaint against the Crypto exchange for operating in the country, while Malaysian regulators gave the exchange an ultimatum to exit the country. Other European countries are skeptical of the compliance of Binance derivatives offering.

Meanwhile, Binance CEO admitted that dealing with regulators had not been a strong suit on the part of the exchange, and it took drastic steps to follow local compliances. the crypto exchange pulled out of Malaysia before the deadline and also stopped offering derivatives in markets like Germany, Italy, Australia, Hong Kong, and the Netherlands.

The exchange also stopped offering stock token services entirely after multiple European regulators pointed out the possible violation of local securities markets rules. Although the FCA did not specify any details they simply stated that the exchange platform is now compliant

Binance also rounded up its compliance efforts by hiring multiple former regulatory and government officials in top roles

Previous Articles:

- Advertisement -

Latest

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

South Korea Election Puts Crypto Policy at Center of Debate

Nearly one-third of South Koreans hold digital assets, making crypto a vital issue in the upcoming presidential election.Both major parties support crypto exchange-traded funds...

Scottsdale Residents Lose $6M to Crypto Scams; Police Respond

Scottsdale residents have reported losing over $6 million to cryptocurrency Scams in 2024.Authorities say actual losses could be higher, as not all cases are...

Ethereum Bullish Patterns Signal Altseason, 55% Rally Possible

Ethereum is showing two bullish chart patterns against Bitcoin, indicating a possible 30–55% price increase. Crypto analysts say an ETH/BTC rally could spark a broad...

Must Read

Top 7 BEST Crypto Trading Bots for Beginners

QUICK NAVIGATIONQuick Look: Top 3 Best Crypto Trading BotsWhat Exactly is a Crypto Trading Bot?How I Chose These Trading BotsTop 7 Crypto Trading Bots...