FCA intervenes Binance UK and its partner
The Financial Conduct Authority has intervened in Binance UK’s financial promotions application. The Financial Conduct Authority (FCA) intervened over Binance UK’s recent partner , known as Rebuilding Society. The primary purpose of Binance’s partner ship with Rebuilding Society, an FCA-authorized and regulated peer-to-peer lending platform, was to gain compliance with the new UK Financial Promotions Regime. The FCA stated: “The firm must not approve the content of any financial promotion for a qualifying cryptoasset for communication by an unauthorized person.” You might also like: UK FCA issues final warning to companies promoting crypto assets Following the FCA’s intervention, the company has until 5 p.m. BST on Wednesday to take back any prior financial promotion approvals it has granted to unauthorized entities. The Financial Conduct Authority told Rebuilding Society to inform its clients that its third-party financial promotions...