From 2019 onwards, Binance offered consumers based in England and Wales access to certain cryptocurrency derivative products through its website, www.binance.com.
KP Law has issued proceedings in the English High Court on behalf of nearly 2,800 consumers who say that, whilst living in England or Wales, they traded one or more of the following cryptocurrency derivative products on the Binance platform and suffered loss as a result: Futures Contracts, Leveraged Tokens, Options and/or Margin.
KP Law continues to grow this claimant group with the aim of achieving justice for those affected and is inviting further eligible traders to register with KP Law.
You may be eligible to take part in the claim if, whilst living in England or Wales, you traded as a consumer in one or more of the following Binance derivative products and suffered loss as a result:
Please note this is not a claim for losses suffered from trading in spot products (for more information, see the FAQ entitled "What products are not included in the claim?").
“No Win, No Fee” is a term used to describe an agreement between a lawyer and their client. It means that the client will not be charged if their claim is unsuccessful, provided the client keeps to the terms of the agreement. In this matter, if the claim is successful, you will pay 30% (plus VAT) of the amount that you recover from the defendants, plus your share of the cost of an insurance policy, known as “After The Event” insurance, which is intended to protect you from opponent’s costs which you might otherwise have to pay. Termination fees may apply if you fail to co-operate with your lawyer or withdraw from the claim.
“No Win, No Fee” is a term used to describe an agreement between a lawyer and their client. It means that the client will not be charged if their claim is unsuccessful, provided the client keeps to the terms of the agreement. In this matter, if the claim is successful, you will pay 30% (plus VAT) of the amount that you recover from the defendants, plus your share of the cost of an insurance policy, known as “After The Event” insurance, which is intended to protect you from opponent’s costs which you might otherwise have to pay. Termination fees may apply if you fail to co-operate with your lawyer or withdraw from the claim.
KP Law has issued a claim in the English High Court on behalf of nearly 2800 claimants and continues to grow this group with the aim of achieving justice for those affected.
Binance is one of the largest cryptocurrency exchanges globally. Through its website, www.binance.com, Binance offers users access to a range of cryptocurrency-related products.
This claim is about cryptocurrency derivatives, which are financial contracts whose value is derived from the price or performance of a cryptocurrency, such as Bitcoin or Ethereum.
The Claimants allege that Binance promoted and sold certain cryptocurrency derivative products to consumers in England and Wales. It is the Claimants' case that cryptocurrency derivatives are regulated financial instruments, which can only be offered for sale or sold by a firm which is authorised by the Financial Conduct Authority, and that Binance was not authorised.
Find answers to common questions about the Binance claim
