Binance UK FUD - Let’s End This Here

There are lots of posts, threads and comments about Binance.com getting banned in the UK and many are worried that all your crypto assets will get lost/stolen, after seeing mainstream media post hundreds of articles about the ban.

Let’s clear this up.

Binance.com is not going anywhere for UK users.

The FCA notice means that Binance must stop offering regulated products to users in the Uk. Examples are like futures, options or leveraged trading.

It does not mean your crypto assets. The FCA clearly indicates it does not regulate crypto. Therefore, your crypto assets on Binance do not come under the so called ‘Ban’.

All it means is that Binance Markets Ltd (the UK company set up by Binance) and Binance.UK is banned in a few days if it carries on to promote regulated products to Uk users. And NOT Binance.com

To give you an example, I could create a regulated ltd company in the UK within a day, and the FCA could ban it.BUT this would not apply to any non regulated activity I run.

So to those who are panicking, your crypto is safe (as safe as it can be on an exchange).

You can still buy, trade and exchange your coins on Binance.com.

If your still worried, move everything to a hardware wallet. Your keys, your crypto.

Keep expecting this kind of negative sentiment to keep coming out in the days, months, years and decades to come for crypto.

Please read the links. It’s clear as day.

https://www.fca.org.uk/news/news-stories/consumer-warning-binance-markets-limited-and-binance-group

https://www.bloomberg.com/news/articles/2021-06-27/u-k-financial-regulator-bars-crypto-exchange-binance

https://twitter.com/binance/status/1409229415846981634

Don’t get fooled by the FUD.

Edit 1: Thank You for the award. Very kind of you.

Edit 2: Binance just clarified what I’m saying above :) See link above!