A supervisory notice that has recently come to light indicates that the United Kingdom's financial regulator thinks crypto exchange Binance is "not capable" of being effectively supervised by the agency. The Financial Times first reported on the Financial Conduct Authority (FCA) memo. The supervisory notice is dated June 25 of this year, and delineates the restrictions the FCA planned to inflict on Binance. The notice details some of the actions Binance took in recent weeks, including posting a notice for users indicating it is not permitted to serve U.K. clients. However, Binance would have to cease all activity ... (full story)

Britain’s Financial Conduct Authority has seemingly lifted its ban on Binance’s UK business, which restricted the company from carrying out regulated activities in the country. The City watchdog today published an update to its previous warning against the world’s biggest cryptocurrency exchange. According to it, Binance Markets Limited, the UK division of Binance, has complied with all the requirements imposed by the FCA. “On 25 June 2021, the FCA imposed requirements on Binance Markets Limited. The firm complied with all aspects of the requirements. See our Supervisory Notice. See the FCA Register for any ... (full story)