From what I’ve read that has been “coming soon” for a while and this is the approval from fca that isn’t given yet. Once they get approval then that will open up (without futures etc)
This sentence to me suggests it’s just derivatives they are targeting.
While we don’t regulate cryptoassets like Bitcoin or Ether, we do regulate certain cryptoasset derivatives (such as futures contracts, contracts for difference and options), as well as those cryptoassets we would consider ‘securities’ – find out more information. A firm must be authorised by us to advertise or sell these products in the UK
I don’t think they have any power over spot.
I partially agree, but Binance have game - ified buying and selling crypto, to the point you could bet to gain league points.
As such it is probably correct a regular steps in to monitor/limit their activity.
Is that leverage trading too? For instance I can use bitmex to trade leverage in UK and at the top it just has a warning that fca don’t support you. Maybe they might just have to add a warning.
Well they should keep Battle I think. So maybe just you can’t play with margin and options.
I think battle is picking which direction for the next five minutes. So gambling 
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Well my logic is that if bitmex can allow margin in UK with a warning at the top of the page then binance should be able to do the same. Here is the warning. Which appears at the top of every page in bitmex. Amazing to me it can run without fca approval and just put a note.
Attention - Important Notice
HDR Global Trading Limited and its affiliates (the “HDR Group”) are not authorised or regulated by the UK Financial Conduct Authority (“FCA”) or other UK authority. Nothing in this website is intended to constitute the marketing or promotion of HDR’s services. By using HDR Group’s services (including this website) you acknowledge that:
- You are doing so on the basis of your own enquiry, without solicitation or inducement by HDR Group;
- Consumer protections under UK regulations do not apply to services provided by HDR Group because it is not regulated in the UK and provides services from outside the UK; and
- You have read our Risk Disclosure Statement and have the necessary knowledge and experience to understand the risks involved.
Please note that the UK FCA does not consider cryptoderivative products suitable for retail investors.
FCA already banned all crypto-derivatives starting in January 2021, including also futures and options.
FCA bans the sale of crypto-derivatives to retail consumers
Press Releases First published: 06/10/2020 Last updated: 06/10/2020
(…)
To address these harms, the FCA has made rules banning the sale, marketing and distribution to all retail consumers of any derivatives (ie contract for difference – CFDs, options and futures) and ETNs that reference unregulated transferable cryptoassets by firms acting in, or from, the UK.
(…)
The ban will come into effect on 6 January 2021.
I’m hoping Binance tell FCA to do one. Worst case the Futures section gets nuked.
Either way I don’t think they hold power to prevent Binance to UK peeps.
Yeah but brokers like T212 are part of the FCA so need to play by those rules.
FCA putting that also under the guise of “protecting retail”. Whilst still allowing CFD and Options for everything else.
It would follow they are wanting to go after Binance for not approaching them to get their permission and secondly want Binance to stop offering Margin/Options to UK customers.
I’m not sure if they can, but I don’t think it’s what 99% of articles circulating atm saying they are banning Binance.
It affects the companies from UK and companies operating in the UK (including foreign companies).
The FCA don’t do the same for the cryptos because they don’t have a mandate to regulate the crypto, until now. So if FCA gets also the crypto, probably the cryptos will get under the same umbrella.
I’m just reading this page, is this saying that as of Jan 10 any business providing crypto services needs to be registered with them and play by their rules?
Was it a case Binance hadn’t? Because Futures have been on Binance forever so why bring it up this week and not in Jan. 
So yeah it’s just FUD 
Incredibly irresponsible of the FCA and the news reporting of it.
And now a couple million tweets saying it’s banned 
I wonder if we get China banning crypto again next week…
FCA and US regulators as they don’t have mandates to regulate the cryptos, under the AML they are scrutinizing the crypto exchanges.
Canadian and Japanese regulators are crackdown the crypto exchanges:
Don’t seem good news for other crypto exchanges in UK, it seems that it is the first shot from FCA (warning shot) :
The FCA states: “Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA … This firm is part of a wider group (Binance Group) … The Binance Group appears to be offering UK customers a range of products and services via a website, Binance.com.”
The FCA emphasized: “No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK.”
Binance is not the only firm offering crypto exchange services to UK customers without registering with the financial authority. The regulator said:
“Most firms advertising and selling investments in cryptoassets are not authorised by the FCA.”
Does it seems a growing trend on cryptos, the regulators closing down the “gatekeepers”?
China, UK, US, Canada, Japan, who will be next?
interesting, good to hear from binance. In the FCA statement it states:
“The Binance Group appear to be offering UK customers a range of products and services via a website, Binance dot com”
why would they state such a stupid speculative statement when it isn’t true and causing all this. (binance state binance group hasn’t launched yet, so FCA must know that) So now Binance are saying: “err no you are wrong we don’t do that via that website, sorry doesn’t apply to us”
actually then binance say:
“We are aware of recent reports about an FCA UK notice in relation to Binance Markets Limited (BML).”
but the statement from FCA states " Consumer warning on Binance Markets Limited and the Binance Group" not just BML.
so contradictions all around and I’m confused still, until FCA clarify binance dot com is not targeted I think it’s still up in the air.
I wouldn’t be surprised if FCA issue another statement/change the statement to target binance dot com website specifically since they just got shot down.
I don’t know the FCA are such a pain. They are the ones that do things like let the EBA introduce SCA without fighting how it would impact on UK customers.
Basically it’s why contactless now has a limit of how much to tap before entering your pin again. Despite us having contactless for well over a decade and contactless fraud is nil compared to other fraud. Our terminals don’t do tap and pin either, so we get the nope that card doesn’t work but no idea why, it’s probably SCA you have to retry again malarkey.
Grinds my gears, and I pay with G pay so it doesn’t even affect me. 
Cryptocurrency exchange Binance banned by UK regulator
What does this mean for binance users? Silly FCA always coming up with new …
we just discussed all this earlier in this thread. TLDR: binance say they are not banned. latest update is binance just tweeted they have been commended by UK police for helping with drug investigation. guess FCA are concerned about this illegal activity going on.
Business as usual. News is so used to jumping on FUD articles that they forgot to check facts.
BML hasn’t launched any UK products.
FCA should be fined for such an ambiguous press release. 
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Just watched along live. A bit about the FCA nonsense at the start. An interesting bit about how Binance tried to buy and work under an existing random business that had FCA approval and got slapped.
A lot about him watching for a potential nuke + bounce move from 32k support towards 38-40k resistance, or a get the ■■■■ out if it doesn’t get bought up
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