Binance Jersey, which is part of the Cayman Islands-registered Binance Group, has “ceased operations,” according to a report published on the crown island.
They told site visitors that “The Binance Jersey cryptocurrency exchange is now closed” and added at the end “The Binance Group expresses its gratitude to all binance jersey consumers for their unwavering support, My best wishes, Binance Jersey Team. “end one of Digital Jersey’s gems in the crown of the island, with Binance Markets Limited already committed in 2019 to creating up to 40 jobs with its European inventory exchange in Jersey.
A more general reaction to the UK regulator’s Financial Conduct Authority’s warning to consumers that Binance Markets Limited cannot adopt regulated activities in the UK has come from across the monetary sector.
The FCA had stated in the letter that Binance Markets Limited could not take on any regulated activity in the UNITED KINGDOM and that the company was part of a larger organisation (Binance Group).
UK financial app Ziglu, created through Mark Hipperson, one of the founders of Starling Bank, has asked the UK retail crypto market to review practices and ensure it meets the highest imaginable criteria in terms of transparency and clarity about the dangers involved. . to invest in cryptocurrencies.
Hipperson, founder and CEO of Ziglu said: “Our studies show that cryptocurrencies are becoming more common.
Given this, it is imperative that the industry review its marketing activity to ensure that it is not misleading and that it highlights the potential dangers associated with making an investment in cryptocurrencies. “
While the transaction investigation on blockchain-based derivatives trading platform, CloseCross, revealed that despite the FCA’s crackdown on Binance, UK investors continued to rely on the value of Bitcoin and Ethereum.
CloseCross CEO Vaibhav Kadikar said: “In recent weeks, Bitcoin and Ethereum have noticed significant drops in their valuations, however, we can interpret that many investors expect the maximum of this correction to be over, and we will start seeing prices. Go up. “
Between June 26, 2021, the date of the FCA announcement, and June 28, 2021 at noon, approximately 3 out of four Ethereum and Bitcoin transactions on the CloseCross platform expect the cryptocurrency to remain solid or increase in value. % expects a drop in value. “