Concerns over Binance’s recent partnership were raised by the top financial authority in the UK because it gives the crypto exchange access to a discontinued payment service.
“Paysafe is aware of our concerns and is subject to close ongoing supervision consistent with our approach for firms of its size. We cannot comment further,” FCA noted.The crypto exchange has maintained that it has been working with the FCA post-warnings to become a compliant exchange in the country. Binance and Paysafe didn’t respond to requests for comments from Cointelegraph at the time of publishing.
Binance’s regulatory trouble in 2021 started in the U.K where regulators issued multiple compliance warnings against the crypto exchange followed by an order to shut down operations. This was followed by similar regulatory warnings from Hong Kong,, the Cayman Islands, Japan and others. The crypto exchange giant managed to mend its relationship in several Asian nations by the end of the year.
Crypto regulatory frameworks in the U.K. are yet to be finalized, but crypto trading is not prohibited. However, the lack of a clear framework makes crypto firms rely on guidelines from regulators, which keep changing from time to time. The current regulatory discussion in the U.K. revolves around
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Introducing the Alpine F1® Team Fan Token (ALPINE) Token Sale on Binance Launchpad! | Binance SupportFellow Binancians, Binance is excited to announce the 27th project on Binance Launchpad - Alpine F1® Team Fan Token (ALPINE) . The token sale for Alpine F1® Team Fan Token will follow the Launchp...
Read more »
Crypto Could Derail Financial Stability, Global Financial Watchdog SaysCrypto's scale, structural vulnerabilities and increasing interconnectedness with traditional finance could threaten global financial stability, according to a new FinStbBoard report. By iamsandali
Read more »
Alpine F1® Team Fan Token (ALPINE) | Binance ResearchNew Binance Fan Token: $ALPINE The AlpineF1Team Fan Token is a BEP-20 utility token designed to revolutionize the fan experience for all BWT Alpine F1 Team supporters. Learn more 👇
Read more »
Binance Smart Chain and Binance Chain become BNB ChainBinance Smart Chain rebrands itself to BNB, mimicking its own native coin, but standing for “Build and Build”.
Read more »
Binance Completes the Sixth Round of BEL Airdrop Distribution | Binance SupportFellow Binancians, Binance has completed the sixth round of BEL airdrop distribution to ARPA holders. Users can confirm the receipt of these tokens via the Distribution History page in the User C...
Read more »
Introducing BNB Chain: The Evolution of Binance Smart Chain | Binance SupportFellow Binancians, As of today, Binance Chain and Binance Smart Chain (BSC) will become BNB Chain. A transition that highlights BSC’s connection with the BNB token and BNB ecosystem. Following in...
Read more »