Binance banned by UK

[Lens1000]

Due to the imposition of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA

Binance, the world's largest crypto exchange by trading volumes, was set to launch its own digital asset marketplace in Britain. However, it was one of several crypto firms that withdrew applications to register with the FCA due to not meeting anti-money laundering requirements.

The FCA spokesperson clarified that the scope of the ban was limited. Though Binance Markets Limited is banned from offering regulated services in Britain, non-registered firms can still interact with U.K. consumers. That means Binance could still offer Brits crypto trading through its website

The FCA pronounced that the ban is limited and they are more likely to lift it provided that binance fulfil certain conditions.

The impact of the ban on binance will be very detrimental because shortly after UK made the pronouncement, Japan also accused binance of carrying out its activities in the country without notice

What's your take on this?

 

[Kingsley]

This is coming again as another rude shock, I never saw it coming, infact the crypto market is heavily attacked by governments of the world. Now this time the attack is on binance which happens to be a safe haven for investors and traders whose county's government has placed ban on the crypto trading activities. I hope they resolve this in good time.

 

[sincerem]

Their is no much cause for alarm here, Binance have to follow due process in order to gain operating for marketing rights. You can't just do thongs without the government notice, if not there won't be approval for that. That's what Japan government have also accused Binance for. I believe this issue of not meeting up anti money regulatory demands, will soon be over cos Binance will follow in the right procedure to get things done.

 

[Sherman198]

There's always a due process to the order of things....I think Binance has been facing issues with some countries governments this year. I heard few months ago that they almost got ban from the US, for some things yet unknown to me. Now this again, i think they have a name to protect and they should try to uphold their dignity as one of the biggest exchange.