-
Yesterday the FCA announced a warning about Binance for UK customers but you probably don't need to worry Here's a mini breakdown of exactly what the FCA said 👇Permalink On twitter.com
♻️ 12 Retweets
❤️ 34 Favorites
Mood -5 🙁
-
"Binance Markets Limited is not permitted to undertake any regulated activity in the UK." • Buying & selling cryptocurrenies are NOT regulated activity • However financial products involving derivatives (futures, CFDs & options) and securities arePermalink On twitter.com
Mood -1 🙁
-
The FCA does not provide regulation on cryptocurrenies and they are not covered under the FSCS protection scheme The FAC states that a company offering products in the UK involving derivatives/securities should be regulatedOn twitter.com
♻️ 1 Retweets
Mood 0
-
*FCA There's always ONE error in these threads 🤦♂️Permalink On twitter.com
Mood -2 🙁
-
So here's likely what will happen • Binance withdraws these products from the UK market completely Or • Binance gains approval to provide these products in the UKPermalink On twitter.com
♻️ 1 Retweets
❤️ 6 Favorites
Mood +4 🙂
-
Binance will likely continue offering spot trading cryptocurrenies but you should probably still move any cryptocurrenies into your own non-custodian wallet (once you know how to do that and how to keep it secure/safe) TL;DR - There isn't much to worry about Enjoy your Sunday 😎Permalink On twitter.com
❤️ 7 Favorites
Mood +4 🙂
-
Here's another good summary on the matter @financepapi__/1409124025381629959?s=19Permalink On twitter.com
❤️ 2 Favorites
Mood +4 🙂