The UK financial regulator Finacial Conduct Authority (FCA) banned the largest cryptocurrency exchange in the whole world – Binance.
According to the FCA, Binance is unable to conduct any ‘regulated activity’ in the UK and issued a consumer warning against it. It also advised the public to be very careful with entities that made promises of high profits from cryptocurrency investments.
Binance issued a note, according to which the FCA ruling will not have any ‘direct impact’ on its services provided through its web portal.
Binance is regulated in the Cayman Islands and operates a British branch called Binance Markets Limited together with a number of other subsidiaries all over the world. Previously the company was based in Malta.
Source
Frankly, even if they are not affected, it's still a pretty bad look.
According to the FCA, Binance is unable to conduct any ‘regulated activity’ in the UK and issued a consumer warning against it. It also advised the public to be very careful with entities that made promises of high profits from cryptocurrency investments.
Binance issued a note, according to which the FCA ruling will not have any ‘direct impact’ on its services provided through its web portal.
Binance is regulated in the Cayman Islands and operates a British branch called Binance Markets Limited together with a number of other subsidiaries all over the world. Previously the company was based in Malta.
Source
Frankly, even if they are not affected, it's still a pretty bad look.
