UK financial watchdog cracks down on cryptocurrency exchange Binance

#crypto #bitcoin

FCA steps up oversight amid warning to consumers about platform

Britain’s financial regulator has ordered Binance, one of the world’s largest cryptocurrency exchanges, to stop all regulated activity and issued a warning to consumers about the platform which is coming under growing scrutiny globally.

In a notice dated 25 June, the Financial Conduct Authority (FCA) said Binance Markets Ltd, Binance’s UK entity, “must not, without the prior written consent of the FCA, carry out any regulated activities … with immediate effect”.

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