Binance will be delisting and ceasing trading on all GBP pairs. This news comes when UK government has just announced that it would be establishing new digital assets legislation and plans in order to make their country a cryptocurrency hub.
Interestingly, how can UK become a crypto hub when cryptocurrency exchanges and companies cannot even open a bank account? On the contrary, there was news for two people getting arrested for transacting in cryptocurrencies.
Anyway, Binance has decided to remove all eleven pairs and all sort of trading will be halted on 29th December 2023. It is unclear whether Binance will continue to operate in UK after this very date, but if it does not, we will update this article.
UK is clearly not crypto-friendly at all. How they want to do it? Many of our reader live in UK and the government there has made it almost pointless to own crypto. They say these are clearly lies from the government.
Meanwhile, UK government requires a huge banner at the top of every crypto website starting the risk and force you to do a 5 minute questionnaire to use an exchange. Really sets the grounds for a crypto hub.