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Binance Trading UK - FCA Authorisation?

Binance

Cryptocoins Exchanges / Binance 215 Views

Hello,

I've recently received an email from Binance informing me that I will be unable to use certain products on Binance as of 13th Feb.

Looking for advice on the best way to proceed. As an individual am I able to apply to the FCA to be an "authorised person" to carry out "activities"? (point 3a below)

TIA

UK Investor Notice
To enable us to comply with UK financial regulations, you are required to provide the following confirmation before accessing certain products on Binance. Your answer will help us to determine whether your access to certain products is permitted or will be restricted. The restrictions, if any, will be applied to all sub-accounts associated with this account. You have until 13th February 2022 11:59 PM UTC to complete this certification. Failure to do so may lead to restrictions being placed on your account.Please confirm which of the following categories you fall into. If you are unsure, please select category 1 ‘None of the categories below’. (Scroll down for an explanation of the categories).1. None of the categories below2. High net worth entity3. Investment professional4. Previous overseas customerYou can continue accessing these products if you fall into categories 2, 3, or 4. We will require supporting documentation for verification at a later date. If you do not fall in any of these three categories, your access will be restricted and you will be required to close any open positions you may have by 15th May 2022.
1. None of the categories belowNote: this will apply to most customers
2. High net worth entityOne of the following:
a. a body corporate which has, or which is a member of the same group as an undertaking which has, called-up share capital or net assets of at least:
£500,000, if the body corporate has, or is a subsidiary undertaking of an undertaking which has, more than 20 members; or
in all other cases, £5 million;b. an unincorporated association or partnership with net assets of at least £5 million;
c. a trust where the aggregate value of the cash and investments which forms part of the trust’s assets (before deducting any liabilities):
is £10 million or more; or
has been £10 million or more at any time during the previous 12 months; ord. a person acting the capacity of a director, officer or employee of an entity falling within a., b., or c. above, where such person’s responsibilities when acting in that capacity involve them in engaging in the investment activities of such entity.
3. Investment professionalOne of the following:
a. a person authorised by the Financial Conduct Authority (“FCA”) or the Prudential Regulation Authority (“PRA”) to carry on FCA-regulated activities;
b. a person who is exempt from the general prohibition on undertaking FCA-regulated activities without being authorised by the PRA/FCA to do so (such as specified central banks, recognised investment exchanges and clearing houses, and appointed representatives of PRA/FCA-regulated persons) where such person’s investment activities with Binance relate to an FCA-regulated activity in relation to which the person is exempt;
c. a person whose ordinary activities involve them in carrying on an FCA-regulated activity to which their investment activities with Binance relate for the purpose of a business carried on by them;
d. a government, local authority (whether in the United Kingdom or elsewhere) or an international organisation; or
e. a director, officer or employee of an entity falling within any of a. to d. above, where such person’s responsibilities when engaging in investment activities with Binance involve them in the carrying on by such entity of FCA-regulated activities.
4. Previous overseas customer
a. A person who has engaged in investment activity with Binance in the previous 12 months where, at the time of such investment activity, the person was neither resident in the United Kingdom nor had a place of business there.

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