Big news out of the UK, with the FCA taking the position of having Binance Market Limited (BML) stop all regulated activities in the UK. Not good news. However, this doesn’t affect Binance.com, which is run through a separate entity.
https://www.ft.com/content/8bc0e5e0-2705-496d-a265-acccaffaee87
Thanks for the link
Another link if the first doesn’t work.
Japan blocked them too! And Germany is apparently looking into them for breaking securities laws. Binance is having a terrible week, ouch.
Stock tokens, too good to be true it appears. I’m still baffled as to how Binance didn’t think to go through proper channels before launching these products.
Some insight on the disagreement between Binance and the German regulator.
https://www.ft.com/content/e7b5fd75-2d93-4a21-9178-eeb79c2f80ab
Binance calls it a "misunderstanding. Funny use of that word in this instance.
I imagine after getting publicly listed for trading they thought they were untouchable. Or something. Who knows.
Seems Binance is having a hard time in many countries since many have blocked it.
So, troubles in the US, bans in the UK (derivatives trading) and Ontario, Canada, and problems with German authorities over stock tokens. Not a great first half to the year.
Binance released an announcement in which it revealed that it will cease to offer crypto margin trading with GBP, EUR, and AUD. Moreover, the exchange will also reduce the maximum leverage it offers for futures trading. From now one this leverage is 1:20, from 1:125.
I wonder if that’s related to the regulatory issues they’ve been having all over the world.