- Binance is working to restore its UK business again.
- This comes after the country’s FCA ordered it to stop operating early this year.
- Binance hopes to provide futures and derivative trading services in the UK.
The top-ranking exchange Binance is busy working to revive its business in the UK after the country’s Financial Conduct Authority (FCA) cautioned it to stop operating early this year.
This confirms Binance’s goal to be counted among the registered crypto-asset companies mainly in the UK. With hard work and its forward-thinking enthusiasm, Binance aims to do all it possibly can to make its UK business active in 6 to 18 months, according to CEO Changpeng Zhao (CZ).
All things being equal, Binance will trigger the crypto market for good by providing a huge array of its crypto products and services. Apart from this, CZ again noted that they are ready to offer futures and derivatives trading services in the UK. But all these innovations can only come true if Binance gets approval from the FCA to operate.
Also, if the circumstances remain the same, the exchange can fulfill this purpose if it overcomes the British anti-money laundering standards. All the Binancians are looking forward to seeing Binance on top in the UK.
Inside story, as said earlier, the UK’s FCA-Binance rebuke occurred in June. The regulators warned Binance to remove its advertisement and declare publicly on its website that its services have been prohibited in the UK. Thus, no one will have access to its services from that time. This prompted Binance to employ lots of compliance staff to its office during that time.