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[Breaking] The UK FCA Settled its Regulatory Issues with Binance

Published

3 years ago

on

CZ Binance

Today the UK FCA published an update on its website about Binance Markets Limited. FCA has settled all its issues with the world’s largest cryptocurrency exchange, Binance.

Financial Conduct Authority took almost two months to settle all the issues with Binance. On 25 June 2021, FCA imposed restrictions on Binance Markets Limited for some of its operations.

FCA wrote on 25th June, “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.”

On 25th August 2021, FCA wrote, “On 25 June 2021, the FCA imposed requirements on Binance Markets Limited. The firm complied with all aspects of the requirements.”

Soon after this news Changpeng Zhao, Binance’s CEO tweets, “Positive progress. One small step at a time. Slowly, but surely.”

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.