UK bans the world's biggest crypto-currency exchange, Binance
Binance, the world's biggest crypto-currency exchange, has been banned by the UK. The UK's financial regulator, the Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any "regulated activity" in the UK. It also issued a consumer warning about Binance, advising people to be wary of adverts promising high returns on cryptoasset investments. The regulator also stressed that no entity in the Binance Group holds any form of authorisation, registration or licence to conduct regulated activity in the UK. Binance, in response has said the FCA notice would have no "direct impact" on the services it provides from its website. Binance's existing crypto exchange is not UK-based so despite the FCA ruling, there will be no impact on British residents who use the website to purchase and sell crypto-currencies. The UK's FCA does not regulate crypto-currencies, but requires exchanges to register with them. So since Binan...