Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: Mahindra on July 01, 2021, 11:30:59 AM
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Customers of Binance, one of the world’s largest cryptocurrency exchanges, are confronting that question after their accounts were suddenly cut off from one of the UK’s main payments systems.
Days after the Financial Conduct Authority ordered Binance to halt all regulated activities (https://www.ft.com/content/8bc0e5e0-2705-496d-a265-acccaffaee87) Britain, the digital asset company Stopped (https://www.ft.com/content/2d427ed7-f9e4-46cf-a4c4-46429b19df5d) allowing its customers to withdraw pounds via Faster Payments, a service used by high street banks. Bank card transfers in pounds were also halted.
Binance insists that the FCA ban does not affect its business and some of the links have been reinstated. Customers could still transfer their holdings to other platforms. But the sudden halt highlights a key issue for the freewheeling world of cryptocurrencies. With the notable exception of El Salvador (https://www.ft.com/content/7b5b1cc4-50bb-437f-aa16-f106d2dbc1c7) no country uses bitcoin as legal tender — and even Elon Musk has backed off (https://www.ft.com/content/052853fa-9816-4624-8dd3-6321c01ac875) plans to accept it as payment for Teslas. Instead, crypto holders must find ways to convert it into fiat currencies. others info (https://www.ft.com/content/35c541b7-0387-4297-8319-4fee51f01693)
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The Cayman Islands’ primary financial services regulator also added that it is investigating whether Binance, Binance Group or Binance Holdings Limited “fall within the scope of the Authority’s regulatory oversight.
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Indeed, lately the negative news for Binance is really very disturbing because I actually continue to trade on Binance and until this moment I still hope that BNB will first drop to the price of 100 USD and then rise to the price of 1000 USD.
I may be hated by everyone when I pray for BNB to go down in price to 100 USD but I will also be delighted by everyone when I wish BNB to go back up to 1000 USD again.
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I don’t understand at all why recently the regulatory bodies of the UK and some other states, not to put forward any claims, are forcing one of the largest and best cryptocurrency exchanges, Binance, to curtail its activities in these countries. I have not yet found a real reason and explanation for this. It seems that there is just an attack on the cryptocurrency. Well, the development and distribution of decentralized cryptocurrency around the world will not be easy and cloudless.
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Now Coley and Binance are most likely in litigation over her ouster, a situation that typically obliges participants to remain tight-lipped. If this is the case, Coley may also be using her silence as leverage for a potential settlement in which she agrees not to disparage her former employer.
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Binance has bad news because it was cut off by various Banks around the world for Fiat trading or deposits but usually this doesn't last long as this regulation can be released by Binance with various supporting documents.
I think this is bad news for a while and for sure one day there will be a re-opening of Binance deposits and BNB prices going up again. This is circulations in cryptocurrency space and always like that , hmmmpp .
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The bad news must be there and of course it's just passing news because after the bad news in this thread then there must be good news and the Binance coin will pump again.
Don't get carried away by bad news because it's definitely only for a short time and I'm sure that Binance this coin will one day be pumped like Bitcoin.
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Binance has a lot of solutions because it is a very good cryptocurrency trading platform and of course Binance is really the best coin in the future.
Even though in the UK there are warnings for withdrawing money to Fiat but Binance certainly has a solution for all this because surely a lot of users in the UK will complain about the same thing if Binance is banned.
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Don't worry too much about Binance because Binance has a very large community around the world for cryptocurrency trading which makes Binance the best platform to be in the UK in the cryptocurrency space.
All the regulations provided by the UK will definitely provide the best way for Binance in the future and of course it is the regulations that make Binance improve itself from the shortcomings that exist at this time.
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I think the Binance exchange only provides a place or media for traders to make buying and selling bitcoin transactions, while if it is to limit price movement or bitcoin circulation, I don't think it will be possible, El Savador said that accepting payments using bitcoin, but you must know bitcoin have a very limited supply so it will be very difficult to get bitcoin.
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As a matter of facts, and as far as crypto exchanges are concerned globally, Binance exchange has positioned itself to withstand and overcome some of these regulations challenges.
Binance exchange has grown tremendously that regulations will deter it operations by regulatory authorities world wide. I think Binance had meet the UK demands, in recent times and it's operations in the UK has open again. I stand to be corrected. Thank you
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If someone needed to cover up the exchange, I mean the most popular platforms for today, it would have already happened, if this did not happen, it means that it is profitable for someone. There is no need to worry about this, since they both worked and will continue their activities.
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Binance may suddenly suspend withdrawals in other countries. Without warning about it. Anything is possible, and Elon Musk didn't want to exchange Tesla for Binance for nothing. This is why some English people ask about the legality of cryptocurrency. But Great Britain is not the United States.
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I think the regulations the UK has put in place to provide security for their citizens who are new to cryto give a lot of reasons not to accept Binance there, but this has no impact on Bitcoin, Bitcoin was around long before it was listed on Binance and you can find it at google, when Bitcoin was traded for the first time
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me and my friends also heard this news but i don't know this is real of fake news please anybody know about that The Binance stand-off shows bitcoin’s limits or not. i think its not a good sign for all of us please please confirm me.