![]() regulators, the report added.īinance.US executives worry that because Zhao was named in the CFTC lawsuit, the company may not be able to acquire certain regulatory licenses that it wants to have in the U.S. Since then, Binance.US leaders have discussed how reducing Zhao's stake might help improve the company's standing in the eyes of U.S. law, "while engaging in a calculated strategy of regulatory arbitrage to their commercial benefit." The CFTC sued Binance, its former top compliance executive and Zhao with "willful evasion" of U.S. Commodity Futures Trading Commission (CFTC) sued Binance and its CEO Zhao for operating what the regulator alleged was an "illegal" exchange and a "sham" compliance program. Zhao, who is also the CEO of Binance - the world's biggest crypto exchange, has been trying to sell at least some of his stake since last summer, the report said. Your cryptoasset account is not protected by the Financial Services Compensation Scheme.Ĭryptoassets may experience frequent price volatility resulting in a high degree of risk.:Binance.US and Changpeng Zhao, the crypto exchange's founder and majority owner, have been exploring ways to reduce his stake in the company, the Information reported on Thursday, citing two people familiar with the matter. You will have no recourse to the Financial Ombudsman Service in the event of a complaint relating to cryptoasset services. The service you obtain through the website or the app in the UK, contains cryptoasset services not regulated by the Financial Conduct Authority. You should note that your cryptoasset profits may be subject to Capital Gains Tax. Cryptoassets are not regulated in any jurisdiction and the value of your assets can increase or decrease. Clients could potentially lose their cryptocurrency or fiat if something were to happen to GlobalBlock, BCB or Signature.Ĭryptoasset services are provided by GlobalBlock Digital Asset Trading Limited and GlobalBlock Europe, UAB (collectively “GlobalBlock”). Client fiat and cryptocurrency are not “safeguarded” nor covered by any compensation scheme. No part of this website can be reproduced without written permission.Ĭlient fiat is held with GlobalBlock in accounts with BCB Limited, Signature Bank and does not meet the definition of Electronic Money (e-money). The information in this website is for information purposes only and is subject to change. It is your responsibility to ascertain whether you are permitted to use the services of GlobalBlock Europe, UAB based on the legal requirements in your country of residence. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. The value of an investment can go down as well as up, and you may not get back the amount you originally invested. ![]() The products and services outlined on this website may not be suitable for all types of investors. ![]() The information in this website is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments or participate in any specific investment (or other) strategy. Investors should be aware that cryptocurrencies are volatile investment instruments that carry a high degree of risk to the capital investment. GlobalBlock Europe, UAB is supervised by the Financial Crime Investigation Service under the Ministry of Interior of the Republic of Lithuania within the scope of the Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania and other legislation stemming thereof. GlobalBlock Europe, UAB is not a licensed financial services provider and is not supervised by the Bank of Lithuania. GlobalBlock Europe, UAB is wholly owned by GlobalBlock Ltd., a company registered in England and Wales with registration number 09450626, and which is wholly owned by GlobalBlock Digital Asset Trading Limited. GlobalBlock Europe, UAB is a company incorporated and registered in accordance with the applicable laws of the Republic of Lithuania as a virtual currency depository wallet operator and virtual currency exchange operator, with registration number 306045642. GlobalBlock Digital Asset Trading Limited is a publicly traded holding company incorporated under the laws of the Business Corporations Act (British Columbia) and whose common shares trade on the TSX Venture Exchange under the symbol “BLOK”. ![]()
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