UK Has Allowed Binance Markets Limited

The UK has allowed Binance Markets Limited. Binance Markets Limited has received clearance from the FCA.

A new development has occurred regarding the Binance crytp exchange, which is in search of a CEO who has problems with the UK authority, especially the UK, and who knows the regulation rules well in this jurisdiction and can develop good relations with institutions. The FCA (Financial Control Authority), which is responsible for overseeing the markets in the UK, has granted a company called Binance Markets Limited to operate in the country. While the permission can also be seen on the official website of the institution, it has also brought about a controversy. Binance Markets Limited's authorization from the FCA led to the news that "Binance can now operate in the UK". However, it was stated that it was not the Binance exchange that took the permit, but only its branch in the UK that did not operate in any way.

CEO Zhao Tweeted

Changpeng Zhao, the CEO of Binance, also tweeted the following, stating that they received approval from the FCA: "August 25, 2021 update… On June 25, 2021, the FCA placed some requirements on Binance Limited Markets. Its company has fulfilled all the requirements it has to comply with." To be remembered, Binance and other cryptocurrency exchanges, which have had problems especially in the UK since June, have been subject to harsh regulations.