Hacker News Reader

As much as I hate the 'FUD' label often given to anything negative in the crypto space, it is disappointing that even the BBC cannot use an honest title. Binance is not 'banned' as they say- this is misleading. I am in the UK and still using it, it is only the derivatives products that have been banned.

View on HN

> it is only the derivatives products that have been banned.

This isn’t correct. It’s any regulated asset that’s been banned. Well... has always been banned. That includes derivatives but also “cryptoassets”. The distinction comes down to whether the FCA considers the product a “security token”, “e-money”, or currency. The first two being prohibited for sale by or through Binance (or any unauthorized entity) without first obtaining the FCA’s permission as they’re regulated products.

More info about the distinction here: https://www.fca.org.uk/firms/cryptoassets

I am still using it too. The BBC article is about as clear as mud, and I doubt that the person who wrote it even understood the story.

Reply on news.ycombinator.com