Watchdog bans crypto super-exchange Binance from 'regulated activities' in the UK

The UK's financial watchdog has fired a warning shot across the bow of Binance, and ordered it to place a notice on binance.com scaring off Brit crypto fans. This seems to have come about because Binance, which is ultimately based in the Cayman Islands, wanted to launch an exchange in the UK using its London-based affiliate …

[tony72]

Shady

Choose an exchange based in Europe, preferably one that goes out of it's way to demonstrate its compliance with financial authorities, if you want to avoid problems. Choose one based in a tax haven and under investigation for money laundering if you prefer to live dangerously.

[iron]

Re: Shady

Or don't chose one at all since the whole damn thing is a giant elaborate ponzi scheme.

[tony72]

Re: Shady

Maybe. However people have been saying that since bitcoin launched twelve years ago, and yet here we are with lots of big institutional investors buying in, a country adopting it as legal tender, hundreds of billions of dollars in market cap, and crypto looking increasingly like an accepted part of the financial landscape. At what point do you accept that it's not going anywhere?

[1752]

ByBit

ByBit is a good exchance, in terms of it usability. Mobile app is good too.

They already have a warning for any UK folks just to make it clear, the FCA do not like them.

[batfink]

Binance isn't owned by a couple of South African brothers by any chance, is it?

[Disgusted Of Tunbridge Wells]

They've disabled both methods of withdrawing cash in the UK today, so I've transferred out most of my holdings just in case.