![]() That is for regulators to decide," Hillmann told the WSJ. The DoJ's digging will likely end in "a fine, could be more … We just don't know. Governments in Japan, Germany, Thailand, Canada and elsewhere have also investigated and/or cracked down on Binance's operations within their borders.Īs of December, US DoJ prosecutors were reportedly split on whether to charge Binance, but last month Binance's Chief Strategy Officer Patrick Hillmann told the Wall Street Journal that Binance was expecting penalties and fines to come out of the investigation. The UK's Financial Conduct Authority banned Binance Markets Limited from doing any regulated activity in the UK without the prior consent of the FCA.ī, which is unavailable in the US, is the entity through which Binance has been doing business in the UK since its local arm was shut. The UK's own Binance subsidiary never even got off the ground. The separate nature of Binance and has been a hot topic for US regulators, and recently revealed messages between Binance leadership reveal the subsidiary may not be entirely independent. "We have seen an increase in the number of scams using cryptocurrency exchanges and we are acting to protect our customers,” said the bank's fraud buster Stuart Skinner. Insufficient funds: Your card balance has insufficient funds. Please contact your bank or try again with a different card. Lloyds and HSBC have similar limits in place. Transaction declined: Your card cannot be used for this type of transaction. Speaking of the UK and banking … NatWest will only allow customers to transfer up to £1,000 ($1,200) a day or £5,000 a month into cryptocurrency exchanges, saying it's doing so to prevent people from being scammed into handing over their cash to crooks.
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