By Irene Madongo (August 26, 2021, 2:31 PM BST) -- Britain's financial watchdog has decided that a local unit of Binance Group cannot be effectively supervised after it found that the world's largest global cryptocurrency exchange failed to cooperate properly.
The Financial Conduct Authority said in a supervisory notice dated June 25, but not published until Tuesday, that Binance Markets Ltd. responded badly to requests for information and refused to answer basic questions, including queries about money laundering. The FCA delayed publication of the notice to give the company time to reply.
Binance Markets failed to identify the legal entity behind the website www.binance.com and did not submit details about how...
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