Cryptocurrency exchange, Binance plans to penetrate into the United Kingdom (UK) market despite facing operational restrictions earlier this year.
The plan will be realized in six to 18 months, making Binance a registered crypto company in the country.
Clearly Binance CEO, Changpeng Zhao, they are in the process of considering setting up a dedicated firm to operate in the UK, similar to Binance.US.
Some of the conditions that Binance must comply with, include: 1/ compliance with money laundering laws, and 2/ financial control of terrorism.
If Binance complies with applicable laws, this will allow Binance to further expand its product range across the UK especially futures and derivatives products.
For the record, the UK’s Financial Conduct Authority (FCA) has warned Binance to cease operations, including withdrawing crypto advertising permissions.
As a result, Binance sought to appoint several employees closely associated with the law to fill the country-based firm.
