Mayur Kamat, who played a key role in the growth of Binance, has decided to step down as Head of Product after almost a year and a half with the company. The news was confirmed by a spokesperson, who expressed gratitude for Kamat’s contribution and wished him well in his future endeavors.

Kamat, with an impressive track record that includes experience at companies such as Google, Microsoft, and Agoda, joined Binance in April 2022. According to his statements to the media, his departure is due to “personal reasons” and marks an opportune time to take a breather after two decades of continuous work in the field of products.

The executive assured that he has worked closely with Binance product leaders to ensure a smooth transition and was grateful for the opportunity to be part of Binance’s evolution and its growth from 80 million to more than 150 million users in so long. only 18 months.

Mayur Kamat’s departure joins the list of executives who have decided to leave Binance in recent months, sparking speculation about regulatory tensions facing the platform.

K. Tovar

Source: Diariobitcoin

(Reference image source: Kanchanara, Unsplash)

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The UK Financial Conduct Authority has proposed a new financial promotion regime for cryptocurrency companies operating within and outside the region. If approved, executives of these companies could face up to two years in prison for failing to comply with the requirements.

The FCA requires all cryptocurrency companies to be authorized to advertise their services or have an exemption under the Financial Promotion Order. There are currently four ways to market crypto assets to UK consumers: through an FCA authorized person, approval by an FCA authorized person, registration with the FCA under anti-money laundering legislation, and compliance with exemption conditions in the Financial Promotion Order.

Any promotion made outside these avenues would be in breach of the Financial Services and Markets Act 2000 and could carry prison terms. In addition, infringing companies could face measures such as removal of their website, public warnings, and other enforcement measures.

The FCA indicated that it will wait for “relevant legislation” to publish “final rules” for crypto asset promotions, indicating that the financial promotions regime could change or be updated.

In conclusion, cryptocurrency companies operating in the UK or promoting their services to UK clients should prepare to comply with the requirements proposed by the FCA. While the legislation is not yet definitively established, it is important to be aware of any updates or changes in the future.

K. Tovar

Source: Diariobitcoin

(Reference image source: Arisa Chattasa, Unsplash)

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La entrada Regulations in the UK would affect cryptocurrency companies apareció primero en Bitfinance.