UK bans world’s largest cryptocurrency exchange Binance

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Britain’s financial watchdog has ordered one of the world’s largest crypto-exchange networks, Binance, to shut down all regulated activities in the UK. The ban comes amid growing scrutiny of digital assets across the world.
The Financial Conduct Authority (FCA) also issued a warning to consumers about Binance Markets Limited, the network’s only regulated UK entity, as well as the wider Binance group.

“A significantly high number of crypto-asset businesses are not meeting the required standards” under money-laundering regulations, the FCA said in an email cited by MarketWatch.

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