Binance Replied To UK Exchange Service Restrictions

Binance tweeted a number of tweets regarding the service restriction against Finance operations in the U.K by FCA.

The Financial Conduct Authority of the U.K issued allegations against Binance to operate their business in the U.K without license or written permission. 

Since at that time Binance didn’t respond. Except they updated the terms of use page on their exchange.

Related: FCA Ban On Binance Exchange For U.K Citizens

Now Binance responded to these allegations and lawsuits through tweets.

First of all they talked about the U.K based Binance exchange. Binance said that BML ( UK based exchange) is not launched yet. And also there is no direct impact on the services of Binance.

So there should be no problem with their another service of exchange for UK based citizens because that is not launched yet.

Binance tried to explain very well that BML was totally separate entity of Binance and that have no connection with Binance exchange group.

Binance Future Approach Over Regulators Action

Binance confirmed that their approach is not destructive. They are ready to work with the full collaborative approach.

And they are ready to follow all types of procedures that are needed to run their exchange in faithful regards.

And also they said that in the present time they are getting issuea from multiple countries for their services and that is why they are not ready for any type of instant response for anything.

Binance also claimed that they are getting targeted by many countries’ authorities because they have high volume trade and high volume of users. 

Well here we can see that FCA announced the temporary resistration regime for Cryptocurrency exchanges to run their operations. 

Through the temporary resistration regime exchanges will be able to run their operations by the end of this year.

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