Binance has issued a clarification after the UK Financial Conduct Authority [FCA] warned the cryptocurrency exchange and prohibiting it from carrying out crypto-related activities. This was enough to stir the market which has been facing regulatory clampdowns in certain parts of the world. While explaining that Binance Market Limited [BML] is a separate legal entity, […]
FCA
Binance faces severe clampdown by regulators of UK, Japan, Ontario this week
The world’s largest cryptocurrency exchange Binance is facing a massive crackdown amidst market-wide beating. In the latest development, the UK Financial Conduct Authority [FCA] has released a statement wherein it revealed that Binance Markets Limited is not permitted to undertake any regulated activity in the country. FCA further went on to comment that no other […]
Bybit To Pull The Plug On Its UK Branch Following FCA’s Crypto Derivative Ban
Bybit, a cryptocurrency exchange based in Singapore in a recent announcement revealed that it would stop offering its services to the citizens of the United Kingdom. As the value and demand for crypto are growing untethered, the adoption rate of these digital assets was following suit. This increased adoption of crypto had coerced governments across […]
UK’s FCA Claims Fintech Firm Lanistar Has Not Received Regulatory Sanction, Company Responds
The rapid growth of the fintech industry has grabbed the attention of financial regulators all over the planet with the discussion around privacy taking priority. Europe is one of the few regions where the financial ecosystem has been taken over by digital innovation with some players trying to fly under the regulatory radar. On Wednesday, […]
U.K. Financial Watchdog Registers Gemini Crypto Exchange Firm
The U.K. financial watchdog has given the green light to U.S. crypto exchange firm Gemini to run its operations in the United Kingdom. The cryptocurrency exchange founded by the Winklevoss twins has registered its U.K. branch with the Financial Conduct Authority. The Financial Watchdog rolled out mandatory risk assessments for exchanges in January this year […]
Wirecard to Resumes Operations After FCA Lifts Restrictions
The U.K. Financial Conduct Authority ( FCA) announced on 29 June that it would lift the restrictions imposed on the German payment firm Wirecard AG, allowing Wirecard to resume operations. The watchdog noted that it had provided a written agreement to Wirecard ‘s subsidiary, Wirecard Card Solutions, to resume its e-money and payment services, although […]
UK-Based Crypto Firms Receive Closure Threats from FCA
The UK-based crypto firm received a reminder from the Financial Conduct Authority on 22 June regarding the submission of completed registration forms before the end of the month. The Authority intends to create adequate time for the processing of applications before the registration deadline of January 2021. The FCA is responsible for overseeing the efforts of […]