Cryptocurrency site Finance It will stop accepting temporarily from this month New customers in the United Kingdom After the country’s Financial Conduct Authority (FCA) determined on October 10 that Binance could not authorize Rebuildingsociety.com (REBS) to prevent them from using their services. Advertising campaigns with crypto assets.
The regulator had previously said that the new financial incentive rules that came into effect on October 8 will also affect the crypto sector. “Clear, fair and non-misleading” advertising regimes Warns consumers that failure to comply may result in criminal and financial liabilities.
Although Binance is not an entity authorized by the FCA to authorize its own financial advertising, it has partnered with REBS and is thus recognized by the operator. However, the FCA cautioned against this Unable to authenticate cryptocoins ad Further, the authorizations issued in this regard should be cancelled.
“We are working closely with the FCA to reassure our users Don’t be affected by these events We are trying to find another company approved by the FCA that will carry out our financial promotions soon”, Binance promised.
Registered British users will continue to have access to the Site’s services if they agree A reverse check and a responsible notice. However, Binance cannot contract new products or services until it finds a new partner that offers a ‘good visa’ for its promotion.
Background
A British digital payments company Paysafe We announced that in March I want to provide coverage For finance activities in the United Kingdom. This measure was fully implemented in Mayo. Similarly, Paysafe announced in June that it intends to offer support for euro-denominated transactions from September 25.
Therefore, we are unable to carry out operations through the Single Euro Payment Zone Network (SEPA, for short in English), but as a Paysafe spokesperson told us, after conducting a “strategic review”, his company and Binance “established a joint implementation process. An orderly and fair way Termination of this Service“.
Finance said Looking for alternative partner and confirmed that “deposit and withdrawal methods of other legal tender currencies and purchases of crypto assets on Binance.com will be affected.”
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