Market

Ideas for BINANCE:BTCUSDT by Christopher_001fx

At first sight, the Financial Conduct Authority’s move to bar Binance from operating in the UK will have little impact . After all, it won’t stop the company’s many UK customers from using its exchange based in the Cayman Islands to buy and sell Bitcoin and other cryptocurrencies.
Nevertheless, the FCA is sending a strong signal that it is worried about the dangers of investing in cyptocurrencies in general.
The reason it wants them all to register is because it’s concerned about their potential use as a cover for illicit activity – and it wants consumers to be very careful indeed.
As well as forbidding Binance from setting up an exchange in the UK, the regulator is ordering its UK division to stop any form of advertising here by 30 June. More significantly, it has until the end of this week to show the FCA that it has stored records of all of its UK customers, ready to be handed over if necessary.
And there’s a message to UK consumers to check whether any crypto company is registered with the regulator and, if it isn’t, to consider withdrawing their assets.
The FCA cannot stop people from trading in cryptocurrencies – but it has got out its biggest red flag and is waving it vigorously. Worried On how to go about your trade ? Drop your questions comments sections below

Most Related Links :
thereliablenews Governmental News Finance News

Source link

Back to top button