Binance Ban in UK boosts the Other Cryptocurrency Exchanges

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Binance Ban: The Financial Conduct Authority announced a ban on Binance. This is the world’s top crypto exchange by trading volume. Britain’s Government restricting the company from carrying out regulated activities in the U.K.

Binance is technically permitted to continue offering crypto trading to Britain people. But it was ordered by controls to add a warning to its website announcing it is not allowed to run in the U.K. Binance has helped a number of its rivals including Bitstamp, Kraken, and Gemini.

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Bloomberg announced that officials from the US Justice Department and Internal Revenue Service who investigate money laundering and tax offenses had sought information from individuals with insight into Binance’s business.

In April, Germany’s financial regulator BaFin warned the market risked being fined for allowing digital tokens out an investor prospectus.

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