Saturday, July 24, 2021

Crypto Exchange Binance Banned in UK by Financial Regulators

Must Read

Cybersecurity firm Kaspersky Reports shows Brazil Top’s in phishing attacks

Brazil Tops the list published by cybersecurity company Kaspersky. According to research, Brazil is a world leader in phishing...

Cloudflare launches Page Shield For Magecart card skimming attacks

Cloudflare has launched new web security service to prevent Magecart-style attacks. Magecart is an umbrella term used to describe attacks...

IWF Launched Tool to Remove Nude Images of Children Online

A new online tool was launched to help young people to remove nude photos of themselves that have been...

The British Financial Conduct Authority(FCA) has issued a consumer warning against Binance Markets Ltd., banning cryptocurrency exchanges from performing any regulated activity in the country.

The intervention by the Financial Conduct Authority in recent days is one of the most important steps moves any global regulator made against Binance, a digital asset firm around the Globe. The Exchanges has until Wednesday evening to ensure compliance with watchdog requirements and removed its advertising.

“Binance Group appears to be providing UK customers with a range of products and services through its website,”

Binance, which announced the acquisition of an FCA-regulated business last June and Binance.UK launch plans, will not be able to resume UK operations without prior written approval.

The FCA also this weekend issued a consumer warning against companies registered at Cayman Islands registered at Binance and Binance Markets Limited, a London-based organization owned by chief executive Changpeng Zhao and overseen by UK regulator.

Binance Receives Many Warning’s

This news comes at a time when Binance is reportedly being monitored by U.S. and European authorities and has received another warning from Japan about its unregistered operation.

On Friday Japanese FSA issued a warning stating that Binance had been providing crypto exchange services in the country without registering with the FSA.

This was the second warning by Japan’s financial market regulator. The crypto exchange giant received its first FSA warning in March 2018 when the regulator warned that the exchange would face criminal charges if it continued to operate without a license.

Priyanshu Vijayvargiya
Founder and Editor-in-Chief of 'Virtualattacks Inc' Priyanshu Vijayvargiya is a cybersecurity analyst, Information Security professional, developer, and a white hat hacker.


Please enter your comment!
Please enter your name here

Latest News

OAIC: Uber found to have interfered with the privacy of over 1.2 million Australians

The Office of the Australian Information Commissioner (OAIC) has determined that Uber Technologies, Inc. and Uber B.V. have interfered...

Over 80 US Municipalities data are exposed due to Misconfigured Amazon S3

A team of Cybersecurity researchers at Wizcase found major data exposure of Over 80 US Municipalities due to the Misconfigured Amazon S3 Bucket. This happened...

Formbook malware Upgraded as an XLoader malware to Attack macOS Systems

Researchers have spotted an upgraded malware variant of Formbook malware which is now Upgraded as an XLoader malware to Attack macOS Systems. Cybersecurity researchers on...

Millions of HP, Samsung, Xerox Printers are Vulnerable to 16 year old bug

A 16-year-old security vulnerability affects Millions of HP, Samsung, Xerox Printers Driver allows attackers to gain admin rights on systems using the vulnerable driver...

MosaicLoader malware targets cracked software via SEO poisoning

New MosaicLoader malware targets users that are searching to download cracked software. Cybercriminals run ad campaigns in search engine results to boost their malicious...

More Articles Like This