Regulators, Banks and Crypto

As further UK banks continue to place restrictions on customer transactions to and from, we feel it is important to update and reassure our investors on what this means for TradeStrike and the crypto market here in the UK in general.

From our current understanding, these restrictions result from banks erring on the side of caution as the UK’s financial conduct authority begins to clamp down on Binance.

On June 26th 2021, the FCA issued a warning that Binance Markets Limited ‘Is not permitted to undertake any regulated activity in the UK.’

These warnings from the regulators come after plans for a new regulated ‘Binance UK’ affiliate company and crypto exchange based in the UK failed to materialise.

In a further statement, the FCA went on to say;

‘No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct a regulated activity in the UK.’

We believe that the Banks which have restricted transactions to have done so in order to avoid any potential regulatory issues and potential fines from the FCA themselves.

What does this mean for us?

TradeStrike seeks to be a revolutionary trading platform where users can benefit from the freedoms that on-chain trading offers.

To be able to deliver on our vision, we have stated from the beginning the sheer importance of operating within current regulatory guidelines, and our commitment to seeking FCA approval reinforces this.

Cryptocurrency entities such Gemini Europe, Gemini Europe Services, Archax, Digivault and Ziglu have all received FCA regulation and many firms are currently on the Temporary Registration Regime list. We intend to work with the regulators to ensure TradeStrike Ltd becomes an addition to this list.

— The TradeStrike Team.

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