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UK Binance users - FCA intervention and deposit ban

Binance

Cryptocoins Exchanges / Binance 251 Views

Can anyone shed any light on what might be going on with Binance from the perspective of a UK trader?

I hold around £1100 with them over 10 coins and also mine Etherium 24/7 into my Binance wallet, turning over around £150 per month of Eth with today's difficultly.

It's now the end of the month and I want to buy the dip of some BTC and some ALTs but card and Faster Payments are now suspended. I can only trade on the exchange with what I have already.

Is this suspension likely to get lifted anytime soon - and how can the FCA intervene in the way they have? It's my money, I'll do what I want with it and I already understand Crypto is unregulated and 'i can lose all my money' like the tabloids keep reminding me. The reason it's unregulated is exactly why I use it so how can a regulatory body get involved like this?

Media outlets in the UK are now saying other exchanges should take note and prepare for similar interventions...

????

submitted by /u/Own_Pomelo_7136
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