Wednesday, July 6, 2022
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Cryptocurrencies

Britain bans Binance’s UK ops in latest cryptocurrency crackdown

MtR by MtR
June 27, 2021
in Cryptocurrencies
0


The logo of Binance is seen on their exhibition stand at the Delta Summit, Malta’s official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian’s, Malta October 4, 2018. REUTERS/Darrin Zammit Lupi

Related articles

Francis Suarez discloses value of cryptocurrency investment

July 6, 2022

Coin Center Lawsuit Underscores How Cryptocurrency’s Anonymity Is Double-Edged Sword

July 6, 2022

June 27 (Reuters) – Britain’s financial regulator has said Binance, one of the world’s largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a warning to consumers about the platform, which is coming under growing scrutiny globally.

In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets Ltd, Binance’s only regulated UK entity, “must not, without the prior written consent of the FCA, carry out any regulated activities… with immediate effect”.

It also issued a warning to consumers about Binance Markets and the wider Binance group.

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 Binance.com website.

“We take a collaborative approach in working with regulators and we take our compliance obligations very seriously. We are actively keeping abreast of changing policies, rules and laws in this new space,” a spokesperson said.

Binance 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.

AUTHORISATION

While trading of cryptocurrencies is not directly regulated in Britain, offering services such as trading in cryptocurrency derivatives does require authorisation.

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.

It must also secure and preserve all records relating to UK consumers and inform the FCA this has been done by July 2.

The regulator did not explain why it had taken these measures.

British citizens will still be able to access Binance’s services in other jurisdictions.

The FCA is stepping up its oversight of cryptocurrency trading, which has soared in popularity in Britain along with other countries around the globe.

Since January, the FCA has required all firms offering cryptocurrency-related services to register and show they comply with anti-money laundering rules. However earlier this month it said that just five firms had registered, and that the majority were not yet compliant. read more

Japan’s regulator said on June 25 that Binance was operating in the country illegally, a notice posted on Japan’s Financial Services Agency website showed.

Last month, Bloomberg reported that officials from the U.S. Justice Department and Internal Revenue Service who probe money laundering and tax offences had sought information from individuals with insight into Binance’s business. read more

In April, Germany’s financial regulator BaFin said the exchange risked being fined for offering digital tokens without an investor prospectus. read more

Reporting by Derek Francis in Bengaluru; Editing by Toby Chopra

Our Standards: The Thomson Reuters Trust Principles.



Source link

Related Posts

Francis Suarez discloses value of cryptocurrency investment

by MtR
July 6, 2022
0

Francis Suárez, alcalde la ciudad de Miami, posa frente la recién inaugurada estatua “Miami Bull”, el miércoles 6 de abril...

Coin Center Lawsuit Underscores How Cryptocurrency’s Anonymity Is Double-Edged Sword

by MtR
July 6, 2022
0

The Biden administration’s intentions to crack down on illicit activities across the blockchain-powered digital asset space are no secret—but they...

Cryptocurrency broker Voyager Digital files for bankruptcy protection | Cryptocurrencies

by MtR
July 6, 2022
0

A US cryptocurrency broker and lender has filed for bankruptcy protection, becoming the latest domino to fall in the embattled...

Cryptocurrency prices today: Bitcoin, ether plunge while dogecoin, Shiba Inu rise

by MtR
July 6, 2022
0

In cryptocurrencies, Bitcoin price today slipped below the $20,000 mark. The world's largest and most popular cryptocurrency Bitcoin fell more...

Core Scientific Unloaded Most of Its Bitcoin in June Amid Market Slump

by MtR
July 6, 2022
0

Core Scientific unloaded most of its bitcoin holdings in June as cryptocurrencies edge lower amid the market's crypto winter. The company...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
Fed tapering and emerging markets

Fed tapering and emerging markets

June 7, 2021
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Research: Rating Action: Moody’s assigns Aaa to Essex County, NJ’s GOULT bonds; outlook stable

July 6, 2022

Metal companies feel the heat as commodity prices continue to dip

July 6, 2022

Is the world of travel now cashless or should I withdraw foreign currency before travelling?

July 6, 2022

Francis Suarez discloses value of cryptocurrency investment

July 6, 2022

Recent News

Research: Rating Action: Moody’s assigns Aaa to Essex County, NJ’s GOULT bonds; outlook stable

July 6, 2022

Metal companies feel the heat as commodity prices continue to dip

July 6, 2022

Is the world of travel now cashless or should I withdraw foreign currency before travelling?

July 6, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter