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A growing number of governments are beginning to clamp down on the cryptocurrency market. Binance, the world’s largest crypto exchange, was banned by the United Kingdom’s Financial Conduct Authority (FCA). The nation’s chief financial regulator stated that the company “is not permitted to undertake any regulated activity in the U.K.” Beginning on Wednesday, Binance must notify its British users of the FCA’s restrictions in a notable place on its website and apps. “BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE U.K. Due to the imposition of re...

Britain bans Binance's UK ops in latest cryptocurrency crackdown Jun 29, 2021 11:47 AM PHT Reuters Britain's financial regulator has said Binance, one of the world's largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a warning to consumers about the platform, which is coming under growing scrutiny globally. In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets Ltd, Binance's only regulated UK entity, "must not, without the prior written consent of the FCA, carry out any regulated activities... with immediate effect." It also ...

News Binance’s U.K. customers are currently unable t use the popular local payments provider, Faster Payments, to withdraw British pounds (GBP) from the exchange.  On Monday, June 28, a notice on the Binance website declared that GBP withdrawals via Faster Payments had been “suspended for maintenance,” according to the Financial Times. Faster Payments is a payment provider used by major banks to process near-instant payments. It has become one of the preferred channels for moving fiat currencies to and from the Binance exchange. According to the report, U.K. users can still use tra...

Binance: UK financial watchdog bans crypto exchange CNN 5 hrs ago By Alexis Benveniste, CNN Business © Tiffany Hagler-Geard/Bloomberg/Getty Images The Binance Exchange application on a smartphone arranged in Dobbs Ferry, New York, U.S., on Saturday, Feb. 20, 2021. Bitcoin has been battered by negative comments this week, with long-time skeptic and now Treasury Secretary Janet Yellen saying at a New York Times conference on Monday that the token is an extremely inefficient way of conducting transactions. Photographer: Tiffany Hagler-Geard/Bloomberg via Getty Images The Fin...

UK financial watchdog bans crypto exchange Binance By Alexis Benveniste, CNN Business Published Jun 28, 2021 7:24:37 AM enablePagination: false endIndex: The Financial Conduct Authority, a regulatory body in the United Kingdom, has banned Binance, a popular cryptocurrency exchange platform, from offering certain services in the country. (CNN) — The Financial Conduct Authority, a regulatory body in the United Kingdom, has banned Binance, a popular cryptocurrency exchange platform, from offering certain services in the country. "Binance Markets Limited is not permitted to undertake any reg...