Binance, a leading cryptocurrency exchange, has disclosed information about its regulatory status in Abu Dhabi Global Markets (ADGM). The company's ADGM entities are subject to regulation by the Financial Services Regulatory Authority (FSRA) of ADGM.
The FSRA has recognized Nest Exchange Limited as a Recognised Investment Exchange (Derivatives), with specific stipulations for operating a multilateral trading facility. Similarly, Nest Clearing and Custody Limited is recognized as a Recognised Clearing House, with requirements to provide custody and operate a Central Securities Depository.
Nest Trading Limited is authorized to carry out various Regulated Activities, including dealing in investments as principal or agent, arranging deals, managing assets, providing money services, and arranging custody. However, it's essential to note that neither Binance nor its cryptoasset investments are regulated by the UK Financial Conduct Authority or covered by the UK Financial Ombudsman Service.