After Japan, FCA warns Binance not to operate in the UK

Binance is not authorized to operate in the UK, said the Financial Conduct Authority (FCA) warning on Saturday, the day after Japan’s financial regulator made a similar request to a Changpeng Zhao-run cryptocurrency exchange.

Warning from the FCA to Binance

Citing its own requirements, the FCA said Binance Markets Limited is not permitted to conduct regulated activities without prior written approval. The warning states:

“No other company within the Binance Group has any form of UK authorization, registration or license to conduct regulated activities in the UK. The Binance Group appears to offer a wide range of products and services to UK customers through one website, Binance.com.

While we don’t regulate cryptocurrencies like Bitcoin or Ether, we regulate certain crypto derivatives (like futures, contracts for difference, and options) as well as cryptocurrencies that we consider securities, ”said the FCA.

On Friday, Japan’s financial regulator warned that Binance was operating in that country without a permit.

Thach Sanh

According to AZCoin News

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