Loading...
Loading...
FCA Sanctions Binance's UK Partner RebuildingSociety.com for Financial PromotionsFCA Sanctions Binance's UK Partner RebuildingSociety.com for Financial Promotions
Source: Adobe Stock
Binance Marketing Partner Rebuildingsociety has been sanctioned by the UK's Financial Conduct Authority (FCA), informing them that they cannot act on behalf of Binance for financial promotions under current law.
In a recent regulatory development, Rebuildingsociety, a firm duly recognized and regulated by the UK's Financial Conduct Authority (FCA), has been subjected to restrictions. The FCA has mandatedRebuildingsociety "not to approve the content of any financial promotion for a qualifying cryptoasset for communication by an unauthorized person.
This notice has sparked speculation regarding the recent Binance's potential shift in UK partnerships to ensure compliance with the FCA's marketing requirements. This sanction comes a mere seven days after Binance announced its partnershipwith Rebuildingsociety. The partnership was aimed to facilitate Binance in marketing its various offerings, including spot trading, nonfungible tokens (NFTs), and various other products and services specifically targeted towards users in the UK.
However, the FCA directive indicates that Rebuildingsociety must, by 5 pm on October 11, 2023, withdraw any existing approvals of financial promotions containing a qualifying cryptoasset.
The FCA's instructions extend to Rebuildingsociety's client engagement. The firm is required to inform any clients it has engaged with or has been engaged with for the purpose of approving content in any financial promotion containing a qualifying cryptoasset about the imposed requirements. Additionally, Rebuildingsociety is mandated to withdraw any advertisements or similar promotional materials offering to approve the content of such financial promotions for communication by an "unauthorized person."
Furthermore, Rebuildingsociety must affirm its compliance with the FCA's requirements by no later than 5 pm on October 13, 2023, in written communication to its designated contact at the Authority.
Binance Launched UK-Specific Domain in Compliance with FCA's Financial Promotions Regime
On October 6, in a strategic move to align with the Financial Conduct Authority's (FCA) Financial Promotions Regime, Binanceembarked on a partnership with Rebuildingsociety.com Limited and unveiled a dedicated domain for UK users.
Since 2021, the FCA, in response to its assessment that Binance was "not capable of being effectively supervised," has acted on Binance's request to revoke several permissions previously granted to its UK unit. Consequently, Binance's UK arm was barred from engaging in regulated activities within the country.
However, this collaboration allowed Binance to operate within the UK while adhering to the updated Financial Promotions Rules. Rebuildingsociety, being a sanctioned and FCA-regulated firm, holds the authorization to approve crypto marketing and communications materials as an 'S21 approver.'
As part of its commitment to conform with the FCA's stringent regulations, Binance took several measures. These include the discontinuation of services such as referral bonuses, research and academy offerings, and gift cards in the UK. All marketing materials associated with these services will be subject to approval by the Rebuilding Society. These changes were set to come into effect for retail users in the UK starting on October 8, 2023.
FCA Continues Vigilance on Crypto Asset Promotions
The FCA has maintained a vigilant stance on promotional activities in the crypto asset sphere. In a recent development, the FCA announced that it had issued a total of 143notifications pertaining to promotional activities tied to crypto assets.
Starting from October 8, 2023, the FCA mandates that any entity seeking to promote crypto assets in the UK must be either authorized or registered by the Financial Conduct Authority (FCA). Alternatively, they must obtain approval for their marketing materials from an authorized entity.
These regulatory guidelines emphasize transparency, equity, and the absence of misleading information in promotions. They also require the prominent display of risk warnings and prohibit any encouragement of investments that may be deemed inappropriate.
It is crucial to note that these financial promotion regulations are binding on all firms involved in marketing crypto assets to UK consumers, regardless of their location or the technology employed for promotional endeavors. These measures are aimed at empowering consumers with a deeper understanding of crypto asset investments and the associated risks.
UK's FCA Adds 143 Crypto Exchanges, Including Huobi-owned HTX and KuCoin, to Warning ListUK's FCA Adds 143 Crypto Exchanges, Including Huobi-owned HTX and KuCoin, to Warning List
Source: AdobeStock / Iakov Kalinin
In a recent move, the Financial Conduct Authority (FCA), the United Kingdom's financial markets regulator, has expanded its warning listto include major cryptocurrency exchanges, categorizing them as "non-authorized firms" that citizens "should avoid."
The warning list is accompanied by a statement advising to refrain from dealing with these firms. It includes 143 new entities, notably major crypto exchanges like Huobi-owned HTX and KuCoin.
The FCA's decision to add these exchanges stems from concerns about their operation without the necessary license or compliance with UK regulations, potentially putting customers at risk. Consequently, they strongly advise against engaging with any firm on the warning list, as it may expose individuals to fraud or other financial losses.
Exchanges listed in this manner are prohibited from operating within the UK. To be removed from the list, an exchange must either register with the FCA or obtain a temporary status permit allowing legal operations within the country.
In July, Jayson Probin, the crypto financial promotions lead at the FCA mentioned that anyone who does not comply with the rule would be charged as a criminal.
"We will take robust action against persons illegally promoting to UK consumers. This may include, but is not limited to, placing firms on our warning list, requesting takedowns of websites, social media accounts, apps, and all other promotions that are in breach, and enforcement action."
As Huobi-owned HTX and KuCoin are significant players in the crypto industry, adding them to the warning list will raise concerns among UK crypto investors, who may now be hesitant to use these exchanges.
FCA Adding New Rules; Binance and OKX Already Compiling
Amidst the issues related to the warning list, the UK's Financial Conduct Authority (FCA) has expanded its rules on financial promotions to encompass crypto asset service providers (CASPs). These regulations apply to all crypto firms, regardless of their location, if they market their services to UK consumers.
Under the new rules, known as the Financial Promotions (FinProm) Regime, all crypto firms must provide clear risk warnings to UK-based consumers and meet elevated technical standards, including implementing a 24-hour cooling-off period for new customers.
The Financial Promotions (FinProm) Regime, tailored for cryptocurrency firms, is designed to ensure that crypto promotions in the UK are conducted in a fair, transparent, and trustworthy manner.
In response, crypto exchanges like Binance, OKX, and MoonPay announced their close collaborationwith the FCA to adhere to these new promotion rules.
However, several crypto exchanges in the UK are reportedly struggling to comply with the new promotion rules. According to the Financial Conduct Authority (FCA), major crypto exchanges KuCoin and HTX may have promoted their services in the UK without permission.
This led the FCA to add these exchanges to its warning list, advising consumers to avoid dealing with them and that they are not allowed to operate in the United Kingdom.
UK’s FCA’s Strict Approach to Crypto Regulations
In August, the UK's Financial Conduct Authority (FCA) disclosedthat it had received 291 applications for registration since 2020, but only 38 of them, or approximately 13%, were approved.
This stringent approval rate underscores the FCA's dedication to ensuring that only legitimate and compliant businesses operate in the UK's crypto space.
As of October 9, 2023, the FCA's list of registered crypto asset providers comprises 42 entities, including well-known names like Bitstamp, Revolut, and Gemini.
Recently, PayPal temporarily ceased crypto transactions for its UK customers as it works to align with the FCA's requirements.
Towards the end of September, the Dubai-based cryptocurrency exchange Bybit also suspended all its services in the UK due to "regulatory changes."
These actions highlight the FCA's unwavering commitment to establishing a uniform set of regulatory standards for all digital asset transactions in the UK, thereby fostering a trustworthy environment for crypto interactions.英国加密公司获 5 个月窗口期申请 FCA 批准Techub News 消息，英国金融行为监管局（FCA）为加密公司设定了为期五个月的申请窗口期，从 9 月 30 日至次年 2 月 28 日，以便在预计于 2027 年 10 月生效的新监管制度前获得批准。（Crypto.news）英国金融监管机构考虑放宽金融预测市场禁令Techub News 消息，英国金融行为监管局（FCA）正在考虑放宽对金融预测市场的禁令。此举可能使公众更容易参与此类市场，提升市场效率，并对传统金融体系构成挑战。
（Crypto Briefing）英国平台 Hargreaves Lansdown 计划向零售投资者提供比特币与以太坊 ETNTechub News 消息，英国金融行为监管局（FCA）解除长达四年的加密货币 ETN 禁令后，投资平台 Hargreaves Lansdown 计划向英国零售投资者提供比特币和以太坊交易所交易票据（ETN）。该公司此前曾将比特币称为“并非一种资产类别”。（Crypto Briefing）英国对花旗银行伦敦分行处以 470 万英镑罚款，因其违反俄罗斯制裁Techub News 消息，英国金融行为监管局（FCA）对花旗银行伦敦分行处以 470 万英镑罚款，因其未能建立有效的系统和控制措施，导致其在 2022 年 8 月至 2023 年 6 月期间违反了英国对俄罗斯的制裁规定。FCA 指出，该行未能正确筛查和阻止涉及受制裁实体的付款，其内部系统存在缺陷。花旗银行已同意支付罚款，并表示已采取措施加强其制裁合规框架。（Crypto Briefing）币安计划申请英国 FCA 牌照拟 2027 年重启服务Techub News 消息，加密货币交易所币安计划向英国金融行为监管局（FCA）申请牌照，拟于 2027 年重新为当地用户提供部分服务。FCA 将于今年 9 月至 2027 年 2 月 28 日接受申请，新监管框架将于 2027 年 10 月 25 日正式生效。
币安英国子公司自 2021 年 6 月起被禁止在英国开展受监管活动，并于 2023 年停止接纳新用户。FCA 支付与数字金融执行董事 David Geale 表示，新框架将要求加密公司达到与英国其他金融服务提供商「类似的标准」。（Cointelegraph）FCA 与 HTX 就和解谈判，英国法院暂停诉讼至 8 月底Techub News 消息，英国金融行为监管局（FCA）与加密货币交易所 HTX 已进入和解谈判阶段，伦敦高等法院已暂停诉讼程序至 8 月底。FCA 指控 HTX 未经授权向英国消费者推广加密货币服务，涉嫌违反 2023 年 10 月生效的金融推广规则。
FCA 于去年 10 月对 HTX（原 Huobi）提起诉讼，指控该交易所忽视监管机构的多次沟通请求，并通过「不透明的运营结构」开展业务。据报道，双方自 3 月起开始邮件往来并进入为期三个月的初步谈判，6 月 25 日获法院批准延长两个月谈判期。HTX 同时面临英国和欧盟就涉嫌俄罗斯相关金融活动实施的制裁，但该公司坚称其服务不面向英国客户。（crypto.news）英国 FCA 与 HTX 就和解谈判，涉嫌非法推广加密服务Techub News 消息，英国金融行为监管局（FCA）正与加密货币交易所 HTX 就涉嫌非法推广加密服务进行和解谈判。FCA 指控该平台未经授权向英国消费者推广加密货币交易服务。
报道称，相关指控涉及 HTX 在英国市场的营销活动，涉嫌违反当地金融推广法规。目前双方正处于和解磋商阶段，尚未披露具体和解金额或处罚条款。HTX 前身为火币全球站，是全球主要加密货币交易所之一。（CNA）英国 FCA 拟制定代币化黄金监管框架Techub News 消息，英国金融行为监管局（FCA）正在准备制定代币化黄金的监管框架。
该监管框架旨在保护伦敦在全球黄金交易中 70% 的份额，以应对来自上海和香港日益激烈的竞争。（CoinDesk）英国 FCA 与银行制定代币化黄金标准Techub News 消息，英国金融行为监管局（FCA）正与主要银行及市场参与者商讨代币化黄金监管标准，探讨将数字黄金作为未清算场外衍生品抵押品，并计划今年出台相关政策。
该监管机构正研究数字黄金在批发市场的运作方式，目前已有 16 家公司在英国数字证券沙盒中开发代币化资产基础设施。伦敦约占全球黄金交易量的 70%，此次讨论建立在 FCA 与英国央行 5 月发布的联合政策文件基础上。（crypto.news）Robinhood 获英国 FCA 加密货币注册许可Techub News 消息，美股交易平台 Robinhood 已获得英国金融行为监管局（FCA）颁发的加密货币注册许可。
该许可允许 Robinhood 在英国合规开展加密货币相关业务。此前该公司已于 2023 年底在英国推出股票交易服务，此次获批标志着其加密业务正式进军英国市场。（Cointelegraph）壳牌($SHEL)已获得英国金融行为监管局(FCA)对其多币种债务证券计划基础说明书的批准。此举是壳牌正式化其融资框架的程序，具有重新调整其全球债券发行基础的意义。 壳牌13日表示，其信息备忘录已获得FCA批准，将作为"基础招股说明书"生效。该计划的发行主体为壳牌国际金融公司，壳牌作为发行人兼担保人参与其中。多币种债务证券计划是一种融资框架，旨在让企业能够根据市场状况以多种货币发行债券。 公司随此基础说明书一并公开了2024~2025年财务报告、过往信息备忘录等相关文件，已上传至其官网及英国国家存储机制。投资者可通过这些文件同时了解发行结构、财务状况及既有披露信息。 但壳牌补充称，此文件不面向美国人，仅可向部分指定国家的居民提供。这是根据各国证券法规设定的常见限制条款，实际可销售区域及投资对象可能根据当地法律有所不同。 市场将此番批准解读为壳牌为管理流动性和确保中长期融资能力所采取的措施。能源巨头在利率与汇率波动持续的环境下，常会提前开放债券发行窗口。这是因为它们可以在必要时选择适当时机进行融资。 此次公告并未包含具体的发行规模或利率条件。因此，尚难断定即将有新债券发行。不过，凭借FCA的批准，壳牌已为其未来根据市场条件更迅速地推进债务证券发行奠定了基础。 TP AI注意事项 本文基于TokenPost.ai语言模型进行了摘要。正文中可能遗漏了主要内容或存在与事实不符之处。
