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 requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA. (No other entity in the Binance Group holds any form of U.K. authorisation, registration or license to conduct regulated activity in the U.K.).”
This comes Japan’s Financial Services Agency hinted that it might restrict Binance after warning that it was operating in the country without its permission.
What is next for crypto?
Whatever the case, it did not faze prices as bitcoin was up five percent, Ethereum was up 16 percent, and dogecoin surged six percent.
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