The UK’s finance watchdog has banned major cryptocurrency exchange Binance from regulated trading in Britain, as the industry faces greater global scrutiny.
Binance Markets Limited, part of Binance Group, is ‘not permitted to undertake any regulated activity in the UK’, the Financial Conduct Authority (FCA) said in a statement published over the weekend.
The ban affects options and futures contracts related to bets on price movements of cryptocurrencies.
However, purchases of cryptocurrency units, such as of bitcoin and dogecoin, can continue since they are not regarded as financial products and are therefore not regulated.
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