Accéder au contenu principal

Binance Launches New Domain In UK Ahead Of New Financial Promotions Regime

The world’s largest exchange, Binance, has launched a new domain for United Kingdom users in compliance with the incoming financial promotions rules of the island nation. 

This development was announced on October 6 via a blog post as Binance looks to maintain its services under the UK’s new financial marketing regime, which is set to commence on October 8.

Binance Shuffles UK Services, Partners With Authorized Promotion Agency

In June, the UK’s Financial Conduct Authority (FCA) announced an overhaul of marketing rules in regard to crypto assets. 

According to the market regulator, these new rules are designed to ensure that all potential investors understand the risks that come with dealing with digital assets. 

Under this new financial promotion regime, the FCA will look to stamp out misleading crypto advertisements or incentivizing promotional schemes such as the “refer a friend” bonus.

According to Binance’s recent blog post, its new UK domain, www.binance.com/en-GB, will only provide access to products and services that are in compliance with the incoming marketing regulations. 

These include fiat and crypto deposits and withdrawals, spot trading, margin trading, Binance pay, and crypto loans, among others. 

On the same note, certain Binance services will now be inaccessible to UK users. These include the Binance gift cards, academy, research, and feed features, as well as referral bonuses. 

Furthermore, Binance has also partnered with Rebuildingssociety.com Limited, an FCA-registered promotions firm that will approve all of the exchange’s marketing and promotional material.

Back in July, the FCA wrote an open letter to all crypto firms intending to operate under its new advertisement regime outlining the legal routes for communicating financial promotions to UK consumers.

Binance seems to have adopted one of these routes, which is promotions approved by an authorized person as recognized by the FCA handbook. 

Other means of marketing under the UK’s new financial promotion regime include direct promotion by an authorized person or by crypto assets firms registered with the FCA. 

Binance had initially filed a registration application with the FCA but later withdrew its request for unknown reasons.

European Regulator Issues Second Consultation Package Under MiCA

In other news on European regulations, preparations for the implementation of the Market in Crypto Assets (MiCA) regulations remain underway. 

The latest development on this front reveals that the European Securities and Market Authority (ESMA) has released the second consultation paper for MiCA as it seeks feedback from all members of the crypto industry on five aspects of the MiCA regulations.

These aspects include the sustainability criteria for distributed ledgers, trade transparency measures, and technical specifications for white papers, among others. Interested stakeholders are expected to submit their feedback on this consultation by 14 December 2023. 

Meanwhile, the ESMA will issue a third and final consultation package on the MiCA regulations in Q1 2024 before drafting and submitting its final report based on all feedback received to the European Commission for approval before or on 30 June 2024. 

Widely referred to as the first-ever comprehensive legislative framework for the crypto industry, the MiCA regulations are expected to be adopted by all member states of the European Union upon launch in 2024.

Total crypto market valued at $1.072 trillion on the hourly chart | Source: TOTAL chart on Tradingview.com

Featured image from Harrison Flagpoles, chart from Tradingview.com




Source link

The post Binance Launches New Domain In UK Ahead Of New Financial Promotions Regime appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

$3 Million Stolen In ‘Kraken’ Crypto Con

The surge in online scams has drawn heightened regulatory attention towards the crypto industry. A recent case serves as a vivid reminder of the risks involved, where a Connecticut resident became a victim of a significant scam, losing more than $3 million to individuals falsely purporting to be associated with Kraken, a well-known cryptocurrency exchange. The victim, who remains unnamed, was based in Westport and followed advice to transfer funds out of a retirement account, intending to reinvest the money in an account supposedly linked to Kraken. However, their decision led to more than $3 million swiftly disappearing into crypto wallets they could not access. Recovery Of Stolen Crypto Funds Fortunately, the victim sought help from law enforcement, and local detectives, collaborating with the state’s Organized Crime Task Force, launched an investigation. This diligent effort enabled them to trace the transactions and freeze accounts involved in the scam. While they managed to r...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite