The UK’s Financial Conduct Authority has banned Binance. In a statement on Saturday:
- “Binance Markets Limited is not permitted to undertake any regulated activity in the UK”
- “No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK”
FCA also warned on crypto volatility:
- “Be wary of adverts online and on social media promising high returns on investments in cryptoasset or cryptoasset-related products”
This adds to bans and warnings from authorities in other countries, Japan on Friday last week warned Binance that the platform may be operating in the country without proper authorization. China, of course, has also tightened up on operators in the crypto sector in recent months.
Binance is one of the largest crypto exchanges in the world.
BTC price update, a dip over the weekend and a bounce back: