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    Home » The U.K. Bans Binance Markets Ltd as Crackdown on Cryptos Exchange Intensifies
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    The U.K. Bans Binance Markets Ltd as Crackdown on Cryptos Exchange Intensifies

    June 28, 20211 Min Read
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    The U.K. Bans Binance Markets Ltd as Crackdown on Cryptos Exchange Intensifies
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    U.K.’s Financial Conduct Authority, has given Binance Markets Ltd until 30th of June to remove all advertising and financial promotions.

    • Binance Markets must also make it known through its website and social media platforms that it is not allowed to operate in the U.K.
    • In order to resume business in the U.K, Binance Markets must obtain a prior written authorization.
    • The move comes amid enforcement clampdown on cryptos over concerns of its possible use in money laundering. 
    • Binance pulled out an application to the 5MLD anti-laundering policy, majority crypto asset traders are not complying with set standards under money laundering regulations.
    • Crypto bigwigs take strict regulatory requirements, as a sign of market maturity and more safety precautions may lure more investors.

    Cryptocurrency exchange was not influenced by the move as Bitcoin rose 6.8% at $34,854 while Binance Coin went up 2.8% in the last 24 hours.

    BTCUSD is down 1.43%, EURUSD is down 0.24%

    Source: FCA Register

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