Results 1 to 9 of 9
  1. #1
    FreeSpins is offline Public Member
    Join Date
    June 2016
    Posts
    309
    Thanks
    117
    Thanked 163 Times in 98 Posts

    Exclamation Binance banned in UK and couple of other countries!

    Binance clampdown may just be the start of increased U.K. regulation.
    U.K. authorities have banned the widely-used international cryptocurrency exchange, Binance, from operating in the country.
    In a recent statement, the Financial Conduct Authority (FCA) -- the U.K.'s financial regulator -- said: "Binance Markets Limited is not permitted to undertake any regulated activity in the U.K."
    Binance will be required to display a clear warning to U.K. customers on its website. It is also banned from advertising its services in the U.K.
    Binance Markets Limited is the U.K. subsidiary of Binance Group, which is registered in the Cayman Islands.
    Right now, the FCA does not regulate cryptocurrency exchanges that operate in the U.K. As a result, a spokesperson from Binance Group said Brits would be able to continue to trade as normal. The company argues that the exchange's services would not be affected as the website is not based in the U.K.
    However, deposits and withdrawals in British Pounds (GBP) are currently frozen on the site. This could be because the payment processors do come under the remit of the FCA, but the situation is not yet clear.


    Source: hxxps://www.fool.com/the-ascent/cryptocurrency/articles/why-was-binance-banned-in-the-uk/

    Pressure from the US and other jurisdictions has caused Biance to begin verifying its customers en masse and blocking SEPA transfers.

    Source: hxxps://www.forbes.com/sites/martinrivers/2021/07/28/not-your-bitcoin-binance-stops-users-withdrawing-more-than-006btc-without-kyc-checks/

    Could it be that the real pursuit of CZ has begun?

    hxxps://www.step.org/industry-news/oecd-review-crs-light-financial-innovations
    hxxps://www.internationalinvestment.net/news/4024543/oecd-issue-international-crypto-tax-evasion-standards

    Is this the aftermath of the OECD's announcement that cryptocurrency exchanges are to be subject to CRS?
    Last edited by FreeSpins; 22 August 2021 at 5:24 pm.
    FreeSpins1.com - All free spins and no deposit bonuses to online and mobile casinos.

  2. #2
    Sherlock's Avatar
    Sherlock is offline Public Member
    Join Date
    December 2013
    Location
    WC
    Posts
    4,161
    Thanks
    1,256
    Thanked 3,264 Times in 1,817 Posts

    Default

    It is 2 months old news.

    According to my banker they have crossed the line by tokenising stocks.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

  3. #3
    FreeSpins is offline Public Member
    Join Date
    June 2016
    Posts
    309
    Thanks
    117
    Thanked 163 Times in 98 Posts

    Default

    One thing is for sure, CZ can't sleep well anymore. The US and EU will do everything to force obedience and cooperation on them so they can move on. Otherwise, this will be the end of Binance (at least as we knew it until now). The IRS and OECD will do everything to subdue them.

    By the way, already many people have started to withdraw from this platform for fear of funds being blocked under the pretext of AML/KYC and new guidelines related to this. Such information can be found on other respected crypto related forums.

  4. #4
    Sherlock's Avatar
    Sherlock is offline Public Member
    Join Date
    December 2013
    Location
    WC
    Posts
    4,161
    Thanks
    1,256
    Thanked 3,264 Times in 1,817 Posts

    Default

    Really? People started now? Probably too late.

    OECD really? You take random old article [from december 2020] about OECD (which is nearly an informal organisation), where Binance is not metioned, mix it with Binance [problems from June 2021] and make conclusions?

    For what purpose? Trying to make FUD or pure idiocy?

    Binance is working. For EUR transactions they have card deposits with 0% fee. Their card is working, I am using it every day (anyone in EU can have it immediatelly if you are fine with virtual/NFC product). Payouts are also working.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

  5. #5
    baldidiot is offline Private Member
    Join Date
    January 2010
    Posts
    4,412
    Thanks
    408
    Thanked 2,006 Times in 1,321 Posts

    Default

    Binance works fine for me in the UK... also that note just says they can't do any regulated activity, but crypto isn't regulated. So does it actually mean anything?
    onlinegamblingwebsites.com - Formally known as goodbonusguide.

  6. #6
    FreeSpins is offline Public Member
    Join Date
    June 2016
    Posts
    309
    Thanks
    117
    Thanked 163 Times in 98 Posts

    Default

    Binance is going to be fully compliant soon and it looks to me like a result of pressure from the aforementioned bodies.

    Cryptocurrency exchange Binance has reduced the daily withdrawal limit from 2 BTC to 0.06 BTC for new users who are yet to pass basic account verification.

    Also, Binance CEO Changpeng Zhao tweeted that his company is looking for a strong compliance professional.

    screen: https://cdn.imageupload.workers.dev/..._CZ%20logo.jpg



    This state of affairs leads one to believe that the ground is beginning to burn under their feet. Maybe not a big fire yet, but it has gotten a little hot.
    Last edited by FreeSpins; 23 August 2021 at 12:51 pm.

  7. #7
    RedFoxLotto's Avatar
    RedFoxLotto is offline Non-sponsor Affiliate Program
    Join Date
    February 2020
    Location
    Germany
    Posts
    66
    Thanks
    7
    Thanked 45 Times in 15 Posts

    Default

    I have another issue with Binance - it seems to be impossible to get my account upgraded and verified to the point where I can a) withdraw to bank account and b) withdraw via ATM and their credit card. Right now, I am limited to €200 a day for both a) and b). I have tried the advanced verification several times but got turned down every time, no matter which douments I provide. How does one "prove" their net worth (besides, what business of theirs is it what my net worth is WTF?).
    Also, FIAT wihdrawal to bank account has been "suspended due to maintenance" for a few days now.
    Support is non-existent.
    Also, most of the time phone verification is not sending the code necessary for logging in.
    That said, can anyone suggest an alternative wallet which allows me to receive funds in Tether (USDT), and cash out to a bank account, without making me jump through hoops?
    Last edited by RedFoxLotto; 30 August 2021 at 6:56 am.

  8. #8
    Sherlock's Avatar
    Sherlock is offline Public Member
    Join Date
    December 2013
    Location
    WC
    Posts
    4,161
    Thanks
    1,256
    Thanked 3,264 Times in 1,817 Posts

    Default

    One issue is that they lost sepa payments like 2.5 months ago. That is the "few days issue".
    Second thing is verification, that was formal until now (so not proving net worth), but things probably changed and i bet they are overwhelmed.
    Third: support works fine, only by chat the bottom right screen.
    4th phone verification is asked with 2fa set up only when you change device. SO set up google auth and you will be fine.
    5th if you are in Germany for USDT is best probably Kraken. Then Bitfinex. That said I would not ask to be paid in USDT and cash it out through crypto exchange. It is asking for troubles in future because it is quasifiat. Better to be paid in crypto especially when it is from gambling.

    If you insist on USDT maybe some other crypto cards are an option. There are plenty now.

    Your networth is a business of any financial institution for couple of years. It is defined by law of country you live in. Banks or cryptoexchanges, which is the same, are the last ones who want to know it. But your politicians and you supporting them by taxes came with those laws. It will get just more intense = worse. This is why bitcoin exists. To go around the regulations.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

  9. The Following User Says Thank You to Sherlock For This Useful Post:

    RedFoxLotto (30 August 2021)

  10. #9
    casinostation is offline Public Member
    Join Date
    September 2021
    Posts
    10
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Post

    Except for countries where the value of their own legal tender is not probable, it seems to be getting tighter and tighter.

    I believe that virtual currencies will become more common in the future.

    However, if this happens, countries that want people to use legal tender will be in trouble, and regulations will inevitably be imposed.That's pretty horrible...

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •