September 20, 2021

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Accounting still has its woes in the UK

Accounting still has its woes in the UK

UK Monetary Monitoring, Financial Conduct Commission (FCA), he said Accounting “cannot be tracked effectively”. In an environment that offers complex and high-risk financial products, this represents a significant risk for consumers.

Monitoring Committee ” Notice of supervision Dated June 25, 2021. They later updated this document August 25 . In it, the FCA discusses the compliance points required to exchange cryptocurrencies.

However, to date the FCA has determined that Binance does not meet its requirements, based on the company’s lack of involvement.

In response, a company spokesman said they were fully compliant with FCA requirements.

Finance is not condemned

By the end of June, the situation began to worsen FCA Finance has issued a notice to consumers warning them not to be allowed to do business in the UK

This was followed by the withdrawal of GPP curve services on the platform Exhausts Of the banks, leading users suspect that cryptocurrency is in progress.

In the following weeks, however, many financial regulators began to take similar measures. Including Thailand, Malaysia, Italy, Hong Kong, Cayman Islands, Canada Ontario and Japan.

In turn, many insisted that not everything was right in finance, at least from a regulatory compliance standpoint.

Oh ” Supervision Notice The FCA’s latest in this regard alleges that it did not comply with the guidelines that compelled it to provide finance specific requirements.

The company did not present a business plan or strategy that provided incomplete responses and explicit denials in accordance with AML and the Terrorism Finance Act, particularly regarding the provision of details of the structure of the business organization.

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With this in mind, the FCA concluded that Binance could not meet the “limits of competent oversight”.

The goal is to comply

Um porta-vos da finance he said The company is fully compliant with FCA requirements. What’s more, they are constantly on the lookout to resolve pending issues.

As the cryptocurrency ecosystem continues to grow, we are committed to working with regulators and policymakers to formulate policies that will protect consumers, promote innovation and move our business forward.

Last month, the CEO of Finance, Zhangpeng Zhao, Issued a letter mentioning regulatory issues. Asked to comment on the overall situation of the company, he did not address any specific cases directly.

Zhao admitted that finance has grown very, very fast. The result was a failure to obtain certain features of the business as a proper encryption exchange.

However, he welcomes the rules and works hard to meet international compliance rules.

Source: CryptoSlate





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Author: Washington Light

Graduating in Business Administration I am a technology enthusiast and inspired by the world of cryptocurrencies, entering the business world as I am a perpetual student. Bitcoin: Money of the Future


Washington Light_

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