Crypto Exchange Binance performs significant changes in Great Britain in order to completely licensed and completely conformed -
Crypto Exchange Binance performs significant changes in Great Britain in order to completely licensed and completely conformed -
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The cryptocurrency exchange Binance has presented its plan to become a "fully licensed and fully compliant" stock exchange in order to serve users in the UK, the regulatory authority of the country, the Financial Conduct Authority (FCA).
Binance plans to introduce a fully licensed crypto exchange in Great Britain
Binance is working on becoming a fully licensed and fully compliant cryptocurrency exchange to start in Great Britain, where it recently came onto the market Problem at the Financial Conduct Authority (FCA).
The CEO of the stock exchange, Changpeng Zhao (CZ), said in an interview with The Telegraph that Binance will again apply for a license from FCA. He believes that the relationship of his stock exchange and British regulatory authority has improved. He told the news agency:
There we are fully used again ... We take a number of very significant changes in the organizational structures, product offers, our internal processes and the way we work with the supervisory authorities.
The British financial supervisory authority has a consumer warning in June that means that that means that Companies of the Bony Group on any form of a British approval, registration or license to exercise regulated activities in the United Kingdom called that Binance no longer violates its rules, but found that the company did not apply for a license to operate a crypto exchange.
"We want to continue to build a presence in Great Britain and serve British users in fully licensed and fully compliant ways," emphasized Zhao, adding that Binance hopes to become a registered crypto asset company in six to 18 months.
After the FCA warning, several large banks in Great Britain began to limit payments to Binance, including Barclays, HSBC, NatWest and Santander.
In addition to the FCA, a number of other supervisory authorities have published warnings of various kinds of binance, including supervisory authorities in the USA, South Africa, Singapore, Australia, Norway, the Netherlands, Hong Kong, Germany, Italy, India, Malaysia and Lithuania. In August Binance said that she was compliance with legal regulations on her Priority .
Zhao further announced that the supervisory authorities "asked a very simple question: 'Where is your headquarters?' And our answer was that we have no headquarters that we are a decentralized organization, they did not know how to work with us." The CEO Castle:
We understand that now. So now we are there to set up real offices, legal persons, a proper board and adequate governance structures in most places, also in Great Britain, also in the UK, also in Great Britain
What do you think of the introduction of Binance in Great Britain after regulatory difficulties with the FCA? Let us know in the comment area below.
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