Editorji is a popular short video news and information platform based in India. It was founded in 2018 by Vikram Chandra, one of India’s leading journalists, and has risen to prominence in the digital news space in a relatively short span of time. The platform is primarily designed for mobile devices, with applications available for Android and iOS.

ABOUT US:

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>
<a title="Contact Us" href="mailto:info@editorji.com">Contact Us</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Editorji content is better experienced in our app.

Back in December 2023, Binance was banned from operating in India for failing to register as a reporting entity and adhere to strict anti-money laundering provisions

Binance is Back: Crypto exchange resumes operations in India after ban and fine!

Back in December 2023, Binance was banned from operating in India for failing to register as a reporting entity and adhere to strict anti-money laundering provisions

Binance is back in India! After months in the dark, the world&rsquo;s largest cryptocurrency exchange has officially returned, now registered as a reporting entity with the Financial Intelligence Unit India or FIU-IND. Binance took a major step to regain its foothold in the Indian market by complying with local regulations. This move comes after the crypto giant faced a show-cause notice from the finance ministry for non-compliance with the country&rsquo;s anti-money laundering laws. Back in December 2023, Binance was banned from operating in India for failing to register as a reporting entity and adhere to strict anti-money laundering provisions. The situation escalated in June when the FIU imposed a hefty fine of 18.82 crore rupees on the exchange.
Now, with its registration complete, Binance has resumed full operations in India. The website and app are once again accessible, allowing Indian users to dive back into the world of cryptocurrency trading.

The Financial Intelligence Unit fined Binance Rs 18.82 crore for violating India's anti-money laundering regulations. Binance must comply with PMLA and AMLCFT rules to resume operations, after being barred in December 2023 for non-compliance

India's Financial Intelligence Unit slaps Rs 18.82 crore fine on world's largest cryto exchange Binance

<h2>The Financial Intelligence Unit fined Binance Rs 18.82 crore for violating India's anti-money laundering regulations. Binance must comply with PMLA and AMLCFT rules to resume operations, after being barred in December 2023 for non-compliance</h2>

The Financial Intelligence Unit has imposed a fine of Rs 18.82 crore on Binance, the world's largest cryptocurrency exchange, for operating in India in violation of domestic anti-money laundering regulations.&nbsp;
"After considering the written and oral submissions of Binance, the Director, FIU-IND, based on the material available on record, found that the charges against Binance were substantiated." a notification by FIU said. "Furthermore, specific directions have also been issued to Binance to ensure diligent compliance with the obligations outlined in Chapter IV of the Prevention of Money Laundering Act (PMLA) of 2002, in conjunction with the PMLA Maintenance of Record Rules (PMLA Rules) of 2005 for the prevention of money laundering activities and combating the financing of terrorism (AMLCFT)," it added
<h3>Binance Fined</h3>
Binance had registered with the Financial Intelligence Unit in May as it sought to resume operations in the country after being issued a show-cause notice by the financial watchdog in December 2023, along with eight other offshore exchanges that were operating in violation of local rules.
In December, Binance was barred from operating in India for not complying with local regulations as part of the financial watchdog's crackdown on offshore crypto exchanges that were operating in the country without registration.
Binance can now resume operations only after paying the penalty for previous non-compliance. Virtual digital asset service providers, like crypto exchanges should comply with obligations mandated under the country's anti-money laundering rules in India
Also watch: <a href="https://www.editorji.com/business-news/sebi-open-to-oversight-of-crypto-trade-in-contrast-to-rbi-s-stance-report-1715865351779">SEBI open to oversight of crypto trade in contrast to RBI's stance: Report</a>

US Money Laundering: Changpeng Zhao after pleading guilty to breaking US anti-money laundering law, will not be able to take part in the management for the next 3 years. Richard Teng became new CEO.

US Money Laundering: Richard Teng becomes Binance New CEO after Changpeng Zhao pleads guilty & steps down

As part of the deal Changpeng Zhao made after pleading guilty to breaking US anti-money laundering law, he will not be able to take part in the management for the next three years

U.S money laundering: Richard Teng becomes Binance's CEO after Changpeng Zhao pleads guilty & steps down

<h2>As part of the deal Changpeng Zhao made after pleading guilty to breaking US anti-money laundering law, he will not be able to take part in the management for the next three years</h2>

US money laundering: In yet another blow to the Crypto world, Binance's founder and CEO Changpeng Zhao has stepped down from his role as CEO after pleading guilty to breaking the U.S anti-money laundering laws. Following this, Zhao announced in X that Binance's global head of regional markets Richard Teng will take over as the new CEO.
This comes on the heels of the recent fraud conviction of FTX founder Sam Bankman-Fried.
<h3>Changpeng Zhao pleads guilty</h3>
In the $4.3 billion settlement case in which investigation has been going on for years, Zhao has decided to plead guilty and settle. As per the deal, Zhao will personally pay $50 million. Reuters quoted some legal experts and said that this is a good outcome for Zhao, leaving his vast wealth intact and allowing him to retain his stake in Binance.
Also Read: <a href="https://www.editorji.com/business-news/ftx-founder-sam-bankman-fried-arrested-in-bahamas-1670903312222">FTX founder Sam Bankman-Fried Arrested in Bahamas</a>
Binance will pay $1.81 billion within 15 months, and a further $2.51 billion forfeiture as part of the deal.
<h3>Binance's money laundering case</h3>
Binance chief is charged with breaking the anti-money laundering laws in US and failing to report more than 100,000 suspicious transactions with organizations the US described as terrorist groups including Hamas, al Qaeda and the Islamic State of Iraq and Syria.
As per Reuters, the exchange also never reported transactions with websites devoted to selling child sexual abuse materials and was one of the largest recipients of ransomware proceeds.
U.S. Attorney General Merrick Garland said that Binance made it easier for criminals to to move their stolen funds and illicit proceeds in its exchange.
&ldquo;Binance made it easy for criminals to move their stolen funds and illicit proceeds on its exchanges," U.S. Attorney General Merrick Garland said on Tuesday. &ldquo;Binance also did more than just fail to comply with federal law. It pretended to comply."
As per New York Times, the US Justice Department, which negotiated the settlement with the Commodity Futures Trading Commission (CFTC) and the Treasury Department, is seeking an 18-month prison sentence for Zhao.
<h3>Richard Teng - The New CEO</h3>
As per media reports, the deal also mandates Zhao to not take on a management position in the company for the next three years.&nbsp;
Changpeng Zhao posted in X (formerly Twitter) about his stepping down from Binance and announced that Richard Teng will take over as the CEO.
In the post, he admitted to the mistakes he had committed and that he must take responsibility for the mistake. He called Richard Teng a highly qualified leader and expressed his trust on Teng to navigate the company through its next period of growth.
<blockquote class="twitter-tweet">
Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself. Binance is no longer a baby. It is&hellip;
&mdash; CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1727063503125766367?ref_src=twsrc%5Etfw">November 21, 2023</a></blockquote>
A long-time executive of Binance, Teng was promoted to global head of regional markets earlier this year. As per hao's tweet, prior to joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore.

The new SEC lawsuit, which is suing Binance, Binance.US and CZ on thirteen charges, accuses the exchange of offering unregistered securities to the general public, naming the BNB and BUSD tokens

Cryptos prices crash after US regulators charge Binance with violating securities laws

The new SEC lawsuit, which is suing Binance, Binance.US and CZ on thirteen charges, accuses the exchange of offering unregistered securities to the general public, naming the&nbsp;BNB&nbsp;and BUSD tokens

Cryptocurrency markets experienced a big intraday drop, a day after US authorities charged cryptocurrency giant Binance with securities law violations and lying to regulators as per a Bloomberg report.&nbsp; Bitcoin fell over 6% and was trading around the $25,800 mark. This after having just hit its lowest levels since March under $25,500. Meanwhile, Ethereum, fell around 4%.&nbsp;
According to Bloomberg, Binance Coin, the native token of the ecosystem of the world&rsquo;s biggest digital asset exchange, fell as much as 13%. Bitcoin accounts for almost 50% of the value of the $1.2 trillion crypto market, according to data from CoinMarketCap. Binance Coin is the fourth-largest token, with a market value of around $43 billion. Binance handles around 50% of all crypto trading volume. Binance violating securities Binance allegedly permitted US residents to trade, even though the platform is not registered in the United States as a securities exchange. The case also alleges Binance misused customer funds.
The Securities and Exchange Commission filed a civil complaint listing 13 charges involving platforms and other investment entities controlled by founder Changpeng Zhao, who was once seen as the archrival of disgraced crypto tycoon Sam Bankman-Fried.
The SEC case comes on the heels of charges in March by another US regulator, the Commodities Futures and Exchange Commission.
Zhao and Binance publicly claimed that US customers were barred from transacting on Binance.com, but the platform "secretly" allowed high-value customers to keep trading, the SEC said.

Ether collapsed more than 30% over the past two days and is close to falling below $1,000

Crypto Crisis: Binance backs out of buyout, FTX faces bankruptcy

Ether collapsed more than 30% over the past two days and is close to falling below $1,000

Just 24 hours after announcing the 'rescue' of its rival FTX, Binance has done a U-turn and backed out of its buyout of the crypto exchange leaving FTX cashless and on the brink of complete chaos.&nbsp;
&ldquo;In the beginning, our hope was to be able to support FTX&rsquo;s customers to provide liquidity,&rdquo; Binance said in a tweet. &ldquo;But the issues are beyond our control or ability to help.&rdquo;
The big question is, what changed in 24 hours? Binance pointed towards the threat of regulation and investigation in its statement &ldquo;As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com,&rdquo;&nbsp;
So the threat of a crackdown is pointing to an inevitable collapse for FTX and its crypto FTT. Reports indicate that founder CEO Sam Bankman-Fried told FTX.com investors that the company now faces a $6 billion liquidity shortage. The digital token FTT is also in free fall as it had already lost 80% of its value between Monday and Tuesday, falling to $5 and wiping out more than $2 billion in a day.
This is facing a contagion impact on the entire crypto ecosystem. Cryptocurrencies have plummeted as FTX gears to face its fate. Bitcoin extended its loss falling 15% in Wednesday's trade after facing a 13% drop on Tuesday. The popular coin is trading below $16,000 for the first time since November 2020. Ether collapsed more than 30% over the past two days and is close to falling below $1,000.

Crypto exchanges are facing not just a funding winter but also severe regulatory crackdowns worldwide

Crypto Corner: Binance buys rival FTX, rescue takeover explained 

Crypto exchanges are facing not just a funding winter but also severe regulatory crackdowns worldwide

The crypto kings were warring and the battle ended with Binance, the largest crypto exchange by volume,agreeing to buyout its biggest rival FTX. &nbsp;But this crypto takeover had many twists and turns with many pointing to Binance for being the reason its rival was forced into a liquidity crisis.&nbsp;
Crypto exchange FTX &nbsp;backed by billionaire Sam Bankman-Fried also known by his initials SBF, was valued at a whopping $32 billion earlier this year. SBF&rsquo;s net worth was estimated at $17 billion mostly due to his stake in the company. So where did the fortunes turn?
Memes and rumours flooded social media over the weekend that FTX, the world&rsquo;s second largest crypto exchange was at the brink of insolvency after a leaked balance sheet of sister concern Alameda showed huge holdings of its own crypto FTT and large leverage levels.&nbsp;
To add fuel to the fire, rival crypto giant Binance chief Changpeng Zhao (who was one of FTT&rsquo;s initial investors, incidentally) tweeted that Binance would begin liquidating all of its FTT &ldquo;due to recent revelations.&rdquo;
This led to panic among investors and finally FTX founder and CEO SBF took to the microblogging site and stated &ldquo;A competitor is trying to go after us with false rumours. FTX is fine. Assets are fine.&rdquo;
But clearly it was not all fine as within 48 hours, crippled under a crypto and cash crunch SBF not only admitted to the crisis but thanked those he indicated caused it just a few day ago. &ldquo;A huge thank you to CZ, Binance, and all of our supporters,&rdquo; said Bankman-Fried, CEO of FTX.com, on Twitter. &ldquo;Our teams are working on clearing out the withdrawal backlog as is. This will clear out liquidity crunches; all assets will be covered 1:1. This is one of the main reasons we&rsquo;ve asked Binance to come in.&rdquo;
Binance Boss Zhao confirming the deal stated on Twitter &ldquo;To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch,&rdquo;&nbsp;
Crypto exchanges are facing not just a funding winter but also severe regulatory crackdowns worldwide. While Sam Bankman-Fried was summoned to testify before the US Congress, Binance which operates without a headquarters after moving out of china is now facing regulatory hurdles in over seven countries worldwide.

Binance, the world's largest cryptocurrency exchange, may have lost more than $100 million following a hack of its Binance Smart Chain blockchain network.
A reddit post by Binance discussing the incident said that the company temporarily suspended transactions and the transfer of funds after detecting an exploit between two blockchains, a method of digital theft that has been used recently in at least one other major hack.
“The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly," CEO Changpeng Zhao said in a tweet.
Zhao the issue took place on the BSC Token Hub, a cross-chain bridge that allows for the transfer of both digital assets and data between block chains.
Binance believes that $100 million to $110 million in funds were taken.
Binance said in a blog post on Friday that it was working on locking down any areas of vulnerabity.
“A new on-chain governance mechanism will be introduced on the BNB Chain to fight and defend future possible attacks," the post read.
Binance also said that there would be an increase in community validators as it moves towards further decentralisation.
Its BNB Smart Chain currently has 26 active validators.
Last year Binance said that it was time for global regulators to establish rules for crypto markets.
The company acknowledged at the time that crypto platforms have an obligation to protect users and to implement processes to prevent financial crimes, along with the responsibility to work with regulators and policymakers to set standards to keep users safe.
Binance is just the latest crypto company to experience a targeted hack. In August Nomad was struck, with media reports saying it was for nearly $200 million.
The Nomad hack was also an exploitation of cross-chain bridge intended to allow the transfer of assets and information. Harmony lost about $100 million in a hack in June.

World's largest cryptocurrency exchange loses over $100 million due to hacking

A reddit post by Binance discussing the incident said that the company temporarily suspended transactions and the transfer of funds

Binance, the world's largest cryptocurrency exchange, may have lost more than $100 million following a hack of its Binance Smart Chain blockchain network.
A reddit post by Binance discussing the incident said that the company temporarily suspended transactions and the transfer of funds after detecting an exploit between two blockchains, a method of digital theft that has been used recently in at least one other major hack.
&ldquo;The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly," CEO Changpeng Zhao said in a tweet.
Zhao the issue took place on the BSC Token Hub, a cross-chain bridge that allows for the transfer of both digital assets and data between block chains.
Binance believes that $100 million to $110 million in funds were taken.
Binance said in a blog post on Friday that it was working on locking down any areas of vulnerabity.
&ldquo;A new on-chain governance mechanism will be introduced on the BNB Chain to fight and defend future possible attacks," the post read.
Binance also said that there would be an increase in community validators as it moves towards further decentralisation.
Its BNB Smart Chain currently has 26 active validators.
Last year Binance said that it was time for global regulators to establish rules for crypto markets.
The company acknowledged at the time that crypto platforms have an obligation to protect users and to implement processes to prevent financial crimes, along with the responsibility to work with regulators and policymakers to set standards to keep users safe.
Binance is just the latest crypto company to experience a targeted hack. In August Nomad was struck, with media reports saying it was for nearly $200 million.
Also watch:<a href="https://www.editorji.com/business-news/crypto-crackdown-exchanges-under-scrutiny-for-massive-money-laundering-1660186036588"> Crypto Crackdown: Exchanges under scrutiny for massive money laundering</a>
The Nomad hack was also an exploitation of cross-chain bridge intended to allow the transfer of assets and information. Harmony lost about $100 million in a hack in June.

From 2017 to 2021, Binance processed transactions totalling at least $2.35 billion stemming from hacks, investment frauds and illegal drug sales, a report by Reuters stated as they calculated from an examination of court records, statements by law enforcement and blockchain data.
Separately, crypto researcher Chainalysis, hired by U.S. government agencies to track illegal flows, concluded in a 2020 report that Binance received criminal funds totalling $770 million in 2019 alone, more than any other crypto exchange. Binance CEO Changpeng Zhao accused Chainalysis on Twitter of “bad business etiquette."
Reuters reviewed detailed data about Binance client transactions on 'darknet' sites – marketplaces for narcotics, weapons and other illegal items. Most of the data was provided by Crystal Blockchain, an Amsterdam-based analysis firm that helps companies and governments trace crypto funds. The data showed that from 2017 to 2022, buyers and sellers on the world’s largest darknet drugs market, a Russian-language site called Hydra, used Binance to make and receive crypto payments worth $780 million. Reuters cross-checked these figures with another analysis firm, which agreed with the findings.
In Germany, police said investigators began seeing criminals in Europe turn to Binance in 2020 to launder some of the proceeds from investment fraud schemes that caused victims, many of them pensioners, to lose in total 750 million euros ($800 million). 
The report also pointed out how North Korea’s Lazarus used Binance to launder some of the cryptocurrency stolen from Eterbase.
Binance, however, said it uses transaction monitoring and risk assessments to ensure that any illegal funds are tracked, frozen, recovered and/or returned to their rightful owner.
With around 120 million users worldwide, Binance processes crypto trades worth hundreds of billions of dollars a month.

Is Binance a safe-house for hackers, fraudsters and drug traffickers?

Is the world's largest crypto exchange Binance a safe-house for hackers, fraudsters and drug traffickers operating from Russia to North Korea?

Binance is said to have been an easy exchange to launder money through due to its previously lax KYC requirements.

A new report from Reuters claims Binance allowed more than $2.35 billion worth of criminal funds to process through its exchange unchecked. As per the investigation, from 2017 to 2021, Binance processed transactions totalling at least&nbsp;$2.35 billion&nbsp;stemming from hacks, investment frauds and illegal drug sales, a report by&nbsp;Reuters stated as they calculated from an examination of court records, statements by law enforcement and blockchain data. The Reuters report singles out entities having allegedly laundered money through Binance, including the Lazarus Group, the North Korean cybercrime syndicate responsible for&nbsp;hacking&nbsp;$550 million from the Ronin bridge last year. Hydra, a giant Russian-language darknet marketplace that used cryptocurrencies for the sale and purchase of drugs, is also said to have used Binance to process more than $780 million since early 2018 as per the report.&nbsp;
Separately, crypto researcher Chainalysis, hired by U.S. government agencies to track illegal flows, concluded in a 2020 report that Binance received criminal funds totalling $770 million in 2019 alone, more than any other crypto exchange. Binance CEO Changpeng Zhao accused Chainalysis on Twitter of &ldquo;bad business etiquette."
Binance, however, said it uses transaction monitoring and risk assessments to ensure that any illegal funds are tracked, frozen, recovered and/or returned to their rightful owner. A&nbsp;Binance spokesperson was quoted saying that &ldquo;the article uses outdated information from 2019 and unverified personal attestations as a crutch to establish a false narrative&rdquo; before highlighting Binance&rsquo;s cooperation with law enforcement in multiple cybercrime investigations.
&nbsp;

Changpeng Zhao, popularly known as CZ, has hit the headlines all over the internet as Bloomberg Billionaires Index puts him at a higher spot than Asia's richest Mukesh Ambani. 
CZ is the founder and CEO of the world's largest crypto exchange Binance and as per Bloomberg, he is now the 11th richest person on the earth. With a net worth of $96 billion, which does not include his crypto holdings, CZ is not just richer than Ambani, but he also stands close to Mark Zuckerberg and Google founders Larry Page and Sergey Brin.
Zhao was born in 1977 in China and later moved to Canada with family, where he worked at Mcdonald's to support his family. He is a major in computer science from McGill University and has developed various software related to trading in his life. Between 2013 and 2017, CZ worked on some crypto projects before finally launching his own crypto exchange Binance, which has now become the world's biggest crypto exchange platform. 
Binance could be worth as much as $300 billion as per a report from the Wall Street Journal, which is three times of the publicly traded Coinbase. Binance generated at least $20 billion of revenue last year, according to a Bloomberg analysis of its trading volume and fees. In one recent 24-hour span, Binance completed $170 billion of transactions. On a really slow day, he said, it’s about $40 billion — and that’s up from as little as $10 billion two years before that.
But that's not all, a significant part of CZ's net worth could be in Bitcoin and his own firm's Binance Coin which have not been taken into calculation by Bloomberg yet. From $5,000 in 2020, Bitcoin price has jumped to now trade at $42,000. Binance Coin also surged 1,300% in 2021.

A McDonald worker to a crypto maniac, this man is now richer than Mukesh Ambani

Changpeng Zhao or CZ founded Binance in 2017 which is now $300 billion worth and world's biggest crypto exchange by trading volumes.

From a worker at McDonalds to being richer than Mukesh Ambani

Changpeng Zhao&nbsp;started Binance in 2017, which is now the world's largest crypto exchange.

Changpeng Zhao, popularly known as CZ, has hit the headlines all over the internet&nbsp;as&nbsp;Bloomberg&nbsp;Billionaires Index puts him at a higher spot than Asia's richest Mukesh&nbsp;Ambani.&nbsp;
CZ is the founder and CEO&nbsp;of the world's largest crypto&nbsp;exchange Binance&nbsp;and as per Bloomberg,&nbsp;he is now the 11th richest person on the earth. With a net worth of $96 billion, which does not include his crypto&nbsp;holdings, CZ is not just richer than Ambani, but he also stands close to Mark Zuckerberg&nbsp;and&nbsp;Google founders Larry Page and Sergey&nbsp;Brin.
Zhao&nbsp;was born&nbsp;in 1977 in China and later moved to Canada with his family, where he worked at Mcdonald's&nbsp;to support his family. He is a major in computer science from McGill&nbsp;University and has developed various software&nbsp;related to trading in his life.&nbsp;Between 2013 and 2017, CZ worked on some crypto&nbsp;projects before finally launching his own crypto&nbsp;exchange Binance, which has now become the world's biggest crypto&nbsp;exchange platform.&nbsp;
Binance&nbsp;could be worth as much as $300 billion as per a report from the Wall Street Journal, which is three times of the publicly traded Coinbase.&nbsp;Binance generated&nbsp;at least $20 billion of revenue last year, according to a Bloomberg analysis of its trading volume and fees.&nbsp;In one recent 24-hour span, Binance completed $170 billion of transactions. On a really slow day, he said, it&rsquo;s about $40 billion &mdash; and that&rsquo;s up from as little as $10 billion two years before that.
But that's not all, a significant part of CZ's&nbsp;net worth could be in Bitcoin and his own firm's&nbsp;Binance&nbsp;Coin which have not been taken into calculation by Bloomberg&nbsp;yet. From $5,000 in 2020, Bitcoin&nbsp;price has jumped to now trade at $42,000. Binance&nbsp;Coin also surged 1,300% in 2021.

In the latest cryptocurrency crackdown Binance has been banned by UK&rsquo;s financial watchdog Financial Conduct Authority (FCA). The UK watchdog has said&nbsp;Binance&nbsp;will need to stop undertaking any regulated activity in the country as it&nbsp;lacked authorization.
UK is not alone in the intervention in the cryptocurrency&nbsp;marketplace, United States and Germany have also sought probes into&nbsp;concerns relating to cryptocurrency&nbsp;exchanges'&nbsp;potential role in illicit activities such as money laundering and fraud, and over often weak consumer protection.Binance&nbsp;is one the world's largest crypto&nbsp;marketplaces, it recorded crypto trading volumes equivalent to $1.5 trillion last month, according to data from TheBlockCrypto.

Cryptocurrency Crackdown: Binance banned by UK financial watchdog

Why has UK banned on the largest cryptocurrency exchanges?

Binance banned in UK

In the latest cryptocurrency crackdown Binance has been banned by UK&rsquo;s financial watchdog Financial Conduct Authority (FCA). The UK watchdog has said&nbsp;Binance&nbsp;will need to stop undertaking any regulated activity in the country as it&nbsp;lacked authorization.
&nbsp;

Binance, one of the world's largest cryptocurrency exchanges, is under scrutiny by regulators in United States and Germany as well. Binance&nbsp;recorded crypto&nbsp;volumes of over $1.5 trillion last month.&nbsp;

In the latest cryptocurrency crackdown Binance has been banned by UK&rsquo;s financial watchdog Financial Conduct Authority (FCA). The UK watchdog has said&nbsp;Binance&nbsp;will need to stop undertaking any regulated activity in the country as it&nbsp;lacked authorization.
UK is not alone in the intervention in the cryptocurrency&nbsp;marketplace, United States and Germany have also sought probes into&nbsp;concerns relating to cryptocurrency&nbsp;exchanges'&nbsp;potential role in illicit activities such as money laundering and fraud, and over often weak consumer protection. Binance&nbsp;is one the world's largest crypto&nbsp;marketplaces, it recorded crypto trading volumes equivalent to $1.5 trillion last month, according to data from TheBlockCrypto.

binance

Categories