Binance plans to support UK

According to a recent report from the financial services industry, the UK-based financial regulator FCA issued a consumer alert in June this year to Binance Markets Limited (BML). ), an organization of the largest cryptocurrency exchange, Binance, and asked to immediately suspend BML at the end of the year. This is because local UK companies cannot participate in regulatory operations without the permission of the FCA.

After a few months, Binance was advised by management not to do local business, but CEO Changpeng Zhao CZ said the exchange plans to expand its business in the UK within the next 6 to 18 months.

CZ told the English newspaper "The Telegraph" on December 4 that Binance was planning to become a UK registered crypto-asset company. Starting a specialist business in the UK is like an organization like Binance.US.

At the same time, the company is considering applying for an FCA license, and CZ is even breaking the news. Since the FCA's announcement in June, Binance has hired former supervisors and hundreds of UK-based police officers to apply for permits. And be prepared to comply with UK regulations.

According to a report by "CoinTelegraph", in October this year Binance hired the director of international relations of the Dubai Financial Services Authority (DFSA) as the regulator of talks to foster relationships with regulators around the world. .

CZ added that the platform provides contact with management and makes a number of important changes to its product, internal company processes and the company's involvement in oversight.

This means that if the company after FCA is approved and licensed, it will be able to supply future equipment and supplies to the UK.

Surrounded by many countries, many countries stop trading in derivatives

As the circle, Hong Kong Cycle, Canada and Singapore agencies have occurred for the funds in multiple countries, including coins, transactions of the company.

In August this year, the UK's Financial Institutions Authority (FCA) issued a statement saying it believed the FCA was not effectively supervising companies and financial assets were difficult and risky high risk for investors. .

In September, Binance Australia had to halt future services, options and token services for local consumers in accordance with federal regulations. Close. Binance also ditched trading derivatives in Germany, Italy and the Netherlands.