Saturday, July 24, 2021
Home Business Financial watchdog orders crypto exchange Binance to stop regulated activities in UK...

Financial watchdog orders crypto exchange Binance to stop regulated activities in UK – Times of India


Britain’s Financial Conduct Authority (FCA) ordered cryptocurrency exchange Binance to stop undertaking any regulated activity in the country, saying the firm lacked authorization.
The exchange would not be allowed to undertake any regulated activities without the prior written consent of the FCA, the watchdog said in a statement dated Saturday.
“No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK,” the FCA statement said.
Britain’s move comes at a time when Binance, one of the world’s largest cryptocurrency exchanges, is under scrutiny by regulators in other countries, including the United States and Germany.
Officials from the U.S. Justice Department and Internal Revenue Service who probe money laundering and tax offenses have sought information from individuals with insight into the company’s business, Bloomberg reported last month.
In April, Germany’s financial regulator BaFin warned the exchange risked being fined for offering digital tokens without an investor prospectus.





Source link

RELATED ARTICLES

Nitin Gadkari says GST was ‘very essential’, sees ‘room for improvement’ – Times of India

NEW DELHI: With the Goods and Services Tax (GST) regime completing four years, Union minister Nitin Gadkari on Thursday said this tax reform...

Sebi confirms securities market ban on various entities in front-running case – Times of India

NEW DELHI: Regulator Sebi has passed a confirmatory order barring 19 entities, including individuals, from the securities market till further orders in a...

Enhanced GST revenue collections should now be ‘new normal’: Nirmala Sitharaman – Times of India

NEW DELHI: Commending taxmen for the enforcement measures in dealing with GST fraud, finance minister Nirmala Sitharaman on Thursday said the enhanced revenue...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Amazing and Thoughtful Birthday Gifts for Parents

Our parents are our strengths and play the most important roles in our lives. They help us mentally, emotionally, and financially to...

Guides To Fix Error [pii_email_b47d29538f12c20da426]

At any point have you faced pii_email_b47d29538f12c20da426 error ? If not, continue perusing. With Microsoft Outlook, clients worldwide get the advantage to...

Error code [pii_email_cbd448bbd34c985e423c]

Outlook is fast, easy to use, and it's many other advantages. Sometimes Microsoft Outlook won't work thanks to some error codes like...

Occurrence of error [pii_email_5b2bf020001f0bc2e4f3]

These are some ways to repair this error. I hope now you'll remove this error code . If you continue to find...

Recent Comments