Following the UK’s decision to stop Binance’s cryptocurrency trading in June, Binance CEO Changpeng Zhao announced that they have started working to officially serve in the UK within 6-18 months.
Binance, the world’s leading cryptocurrency exchange by trading volume, must comply with money laundering and terrorist financing controls to become a UK-registered crypto asset firm. Zhao said they have hired many people (including former FCA employees) to meet these requirements and to apply for a license with the UK’s Financial Conduct Authority (FCA).
Zhao also said that the platform is “fully re-engaging” with regulators and is in the process of making a number of key changes. stated.