Cryptocurrencies
Binance Working to Set Up U.K. Arm After FCA Setback: Telegraph
- Exchange aims to become a registered crypto asset firm
- Effort follows financial watchdog’s rebuke over advertising
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Cryptocurrency exchange Binance is working to build its U.K. business after the country’s regulator told it to halt operations earlier this year, the company’s chief executive officer told the Sunday Telegraph newspaper.
Binance aims to become a registered crypto asset firm in the country in six to 18 months, CEO Changpeng Zhao told the newspaper. The move would allow the world’s biggest cryptocurrency exchange to offer a wider array of products if it can overcome British anti-money laundering standards that have stymied the industry.