Representative of the Binance bitcoin exchange declaredthat due to pressure on digital assets from the authorities, the company is “very difficult” to do business in the US, so it hopes to build relationships with UK regulators.
During the Financial Times conference, the strategy director of the platform, Patrick Hillmann, noted that the last few years in the United States have been a “confused situation” in terms of oversight of the crypto market.
He mentioned recent actions by the US Securities and Exchange Commission (SEC) targeting rival exchange Coinbase for alleged violations of securities laws.
Hillmann added that Binance will do “everything possible” to start official operations in the UK, but did not confirm the re-application for a license.
The company has previously encountered problems in the United Kingdom. In July 2021 FCA prohibited the British division of Binance from carrying out any regulated activity without prior written approval from the agency.
“I expect that at some point the US will want to turn around and catch up with Europe, which has just accepted MiCA. This is a huge step forward,” said the representative of the exchange.
In December 2021, Binance CEO Changpeng Zhao announced plans to file a registration application with the FCA in order to become a fully “regulated firm.” He also did not rule out the creation of a separate subsidiary using the example of Binance.US.
Recall March 27 CFTC filed a lawsuit against the bitcoin exchange and Zhao alleging unregistered derivatives trading, providing services to US citizens and individuals under sanctions, and failing to comply with anti-money laundering regulations.
In response, the head of Binance said that the CFTC’s claims contain “an incomplete statement of the facts” and his company disagrees with the characteristics of many of the points. He later denounced “enforced crypto regulation” by supervisors.
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Representative of the Binance bitcoin exchange declaredthat due to pressure on digital assets from the authorities, the company is “very difficult” to do business in the US, so it hopes to build relationships with UK regulators.
During the Financial Times conference, the strategy director of the platform, Patrick Hillmann, noted that the last few years in the United States have been a “confused situation” in terms of oversight of the crypto market.
He mentioned recent actions by the US Securities and Exchange Commission (SEC) targeting rival exchange Coinbase for alleged violations of securities laws.
Hillmann added that Binance will do “everything possible” to start official operations in the UK, but did not confirm the re-application for a license.
The company has previously encountered problems in the United Kingdom. In July 2021 FCA prohibited the British division of Binance from carrying out any regulated activity without prior written approval from the agency.
“I expect that at some point the US will want to turn around and catch up with Europe, which has just accepted MiCA. This is a huge step forward,” said the representative of the exchange.
In December 2021, Binance CEO Changpeng Zhao announced plans to file a registration application with the FCA in order to become a fully “regulated firm.” He also did not rule out the creation of a separate subsidiary using the example of Binance.US.
Recall March 27 CFTC filed a lawsuit against the bitcoin exchange and Zhao alleging unregistered derivatives trading, providing services to US citizens and individuals under sanctions, and failing to comply with anti-money laundering regulations.
In response, the head of Binance said that the CFTC’s claims contain “an incomplete statement of the facts” and his company disagrees with the characteristics of many of the points. He later denounced “enforced crypto regulation” by supervisors.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!