June 27, 2021

UK Bans Cryptocurrency Exchange Binance, Without Warning, Real Reason Revealed

In a rare broadcast, North Korean TV earlier this week allowed viewers to see Kim Jong-un on television in what analysts believe may have been an attempt at transparency. The video of the leader's speech was aired after rumors began surrounding his health and foreign media outlets noticed he had lost weight over time. Residents were quoted as saying that they could tell something must be wrong with him because "he looked emaciated" and it broke their hearts; however, no details about possible reasons for why are offered by reports out today (June 30).

Binance has until June 30th to respond to the FCA's demands or face possible penalty. Engadget reached out for comment, but Binance says it takes regulatory obligations "very seriously" and is committed to honoring rules wherever it operates in the past.

Binance has until June 30th to confirm that it's honoring the FCA's demands.UK Bans Cryptocurrency Exchange Binance, Without Warning, Real Reason Revealed

Engadget is asking Binance for comment about what this means for its future markets in Europe, but we don't know whether or not they'll take on any new customers after their compliance with UK regulations expires at the end of 2019.

This is a significant blow. Binance, one of the largest crypto exchanges on the planet with locations around the world and an industry-leading trading volume of about $2.46 trillion as of May 2021 has received some bad news from authorities in London where they have been given until October 14 to stop offering their services for UK clients or face being fined up to 20 million pounds which could not only limit trading both domestically and internationally but hurt their reputation if it chooses not act quickly--it's unclear how easily these can be addressed by this company under immense pressure though that may change after Friday when all was said and done.

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