BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Binance is not Banned in the UK, says CZ

by Abimbola Adu
Nov 21, 2022 - 12:00 am
in Blockchain
Binance is not Banned in the UK

The CEO of Binance exchange, Changpeng Zhao, has recently said that the crypto exchange is not banned in the United Kingdom.

Binance CEO @cz_binance responds to @Nouriel Roubini’s attack pic.twitter.com/xIHYZMZ8Ez

— CNBC Middle East (@CNBCMiddleEast) November 17, 2022

Nevertheless, the FCA (financial conduct authority) ordered the exchange to cease all regulated operations in the UK in June 2022. This is largely based on the fact that the crypto industry is an easy target for fraudsters and money launderers. Also, they have a lax consumer protection policy.

However, this does not mean that the exchange is now banned in the country because, even though it’s unlicensed or unregulated, it is still legal. Cryptocurrency and cryptocurrency trading are still legal in the country.

The exchange, however, has been accused by lawmakers in the country of staging the crash of its rival FTX exchange and its sister platform, Alameda Research.

Binance debunked the accusation and presented facts on the popular crypto news platform CoinDesk in a five-page document highlighting in sequence the events that led to the crash.

The platform sent this document to the Parliamentary Treasury Committee before an upcoming hearing. The catalyst that sped up the process was that the lion’s share of the assets on Alameda were FTX tokens; therefore, the crash resulted from the mishandling of funds and alleged fraud.

The committee held the hearing on Monday, November 15, involving top officials of the exchange, who were asked if CZ, the exchange CEO, staged the FTX collapse. Daniel Tinder, the platform’s vice president for governmental affairs in Europe, was among those in attendance at the hearing.

The committee asked him if the exchange knew that liquidating their FTX token would significantly affect FTX and if backing out of the deal to acquire FTX could ruin it.

Harriet Baldwin, a committee member at the hearing, believed that Binance staged the whole event to wipe out its primary competitor because the platform must have weighed the decision and discovered that it would likely lead to its bankruptcy and crash.

The reason for having this belief is not far-fetched because, on November 18, Binance CEO, CZ, called SBF a psychopath for allegedly leaking information about his children, which could, in effect, put them in danger. 

This could quickly lead to the thought that it was a personal vendetta against SBF and his crypto empire, coupled with the fact that leaving the exchange to crash is one less rival to worry about.

Another committee member Alisson Thewliss also shared the same sentiments with Harriet; when asked in an interview if she was satisfied with the platform’s evidence and presentations, she said no.

Join the BTC-Pulse community on Telegram.

Tags: BinanceCZUK
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service