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Re:UK regulator clamps down on Binance by read_if_gay_ on Monday June 28, 2021 @08:52AM (#27661267)
Right, just like Facebook is certain to adhere to European privacy laws.
Re:UK regulator clamps down on Binance by elliekelly on Monday June 28, 2021 @09:11AM (#27661473)
It’s apples and oranges. As a regulator, the FCA has a lot more teeth than the Information Commissioner. The FCA also has a much more persuasive enforcement mechanism: frozen bank accounts. It’s a lot easier for facebook to keep servers outside of the UK than it is for BML to keep money out of the UK. Any prohibited transaction with a UK citizen is now a risk not just for the potential regulatory headache it might provoke but for the chain of accounts it risks flagging to authorities.