The UK Financial Conduct Authority (FCA) said Binance had met the UK regulator’s requirements in June.
At the end of June, the FCA warned cryptocurrency exchange Binance that the site could not carry out regulated activities in the country. The regulator stated that the company should remove, or, if this is not possible, provide instructions for the removal of any promotional activities and financial promotions in progress at that time. FCA updated its June statement yesterday. The following addition appeared in the text of the document:
“On June 25, 2021, the FCA placed restrictions on Binance Markets Limited. The firm has fulfilled all the requirements. ”
The regulator’s notice to Binance in June was one of the first warnings from authorities around the world regarding the exchange’s operation. The Central Bank of the Netherlands recently joined the ranks of regulators warning about the exchange in their jurisdiction without a license.
Pressure from global regulators has led to stricter verification requirements on the exchange. From the second half of August, new clients of the site will have to provide an identity card and undergo intermediate verification. This week, Binance denied allegations of market manipulation and conduct contrary to the interests of users.
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