Cryptocurrency exchange Binance gets banned by UK regulator

Binance Markets Limited, the U.K. division of Binance, has been banned from operating in Britain. The move is the latest sign of a growing crackdown on the crypto market.

Binance is the world’s largest crypto exchange by trading volumes. It was one of several crypto firms that withdrew applications to register with the FCA due to not meeting anti-money laundering requirements.

The FCA said the scope of the ban was limited; non-registered firms can still interact with Brits via its website.

A Binance spokesperson said the ban has no direct impact on the services provided on

Japan’s Financial Services Agency warned last week that Binance was operating in the country without its permission.

China has stepped up efforts to stamp out crypto speculation.

Bitcoin had a solid start to the year, rallying to an all-time high of almost $65,000 in April, trading at $34,783 as of Monday morning. 

BBC News

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