U.K.’s Financial Conduct Authority, has given Binance Markets Ltd until 30th of June to remove all advertising and financial promotions.
- Binance Markets must also make it known through its website and social media platforms that it is not allowed to operate in the U.K.
- In order to resume business in the U.K, Binance Markets must obtain a prior written authorization.
- The move comes amid enforcement clampdown on cryptos over concerns of its possible use in money laundering.
- Binance pulled out an application to the 5MLD anti-laundering policy, majority crypto asset traders are not complying with set standards under money laundering regulations.
- Crypto bigwigs take strict regulatory requirements, as a sign of market maturity and more safety precautions may lure more investors.
Cryptocurrency exchange was not influenced by the move as Bitcoin rose 6.8% at $34,854 while Binance Coin went up 2.8% in the last 24 hours.
BTCUSD is down 1.43%, EURUSD is down 0.24%
Source: FCA Register