trengthening cryptocurrency regulations for cbdcs in each country
u.k fca_warning binance
consumer warning on binance markets limited and the binance group. binance markets limited is not permitted to undertake any regulated activity in the u.k.
this firm is part of a wider group (binance group).
due to the imposition of requirements by the fca, binance markets limited is not currently permitted to undertake any regulated activities without the prior written consent of the fca. no other entity in the binance group holds any form of uk authorization, registration, or license to conduct a regulated activity in the uk. the binance group appears to be offering uk customers a range of products and services via a website, binance.com.
investing in crypto-assets generally
be wary of adverts online and on social media promising high returns on investments in crypto-asset or crypto-asset-related products.
most firms advertising and selling investments in crypto-assets are not authorized by the fca. this means that if you invest in certain crypto-assets you will not have access to the financial ombudsman service or the financial services compensation scheme if things go wrong.
while we don’t regulate crypto-assets like bitcoin or ether, we do regulate certain crypto-asset derivatives (such as futures contracts, contracts for difference and options), as well as those crypto-assets we would consider ‘securities’ – find out more information. a firm must be authorized by us to advertise or sell these products in the uk – check our register to make sure the firm is authorized. you can also check our warning list of firms to avoid.
you should do further research on the product you are considering and the firm you are considering investing with. check with companies house to see if the firm is registered as a uk company and for directors’ names. to see if others have posted any concerns, search online for the firm’s name, directors’ names, and the product you are considering.
always be wary if you are contacted out of the blue, pressured to invest quickly, or promised returns that sound too good to be true. find out more about investing in crypto-assets.
fca_finnacial conduct authority
fca is the conduct regulator for around 51,000 financial services firms and financial markets in the uk and the prudential supervisor for 49,000 firms, setting specific standards for around 18,000 firms.
u.k fca strategic objective is to make sure that the relevant markets function well. fca operational objectives are to:
protect consumers – we secure an appropriate degree of protection for consumers
protect financial markets – we protect and enhance the integrity of the uk financial system
promote competition – we promote effective competition in the interests of consumers
u.k fca is an independent public body funded entirely by the firms we regulate, by charging them fees. fca is accountable to the treasury, which is responsible for the uk’s financial system, and to parliament.
fca’s work and purpose are defined by the financial services and markets act 2000 (fsma). we work with consumer groups, trade associations and professional bodies, domestic regulators, eu legislators, and a wide range of other stakeholders. with this extensive remit, we use a proportionate approach to regulation, prioritizing the areas and firms that pose a higher risk to our objectives.
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Categories: a.i & blockchain, cbdc_fx, finance, home, investment, omgworld foundation, usfcx_foundry exchange
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