- UK bans Binance services in the country.
- Binance maintains its top 5 positions in the crypto market.
The hunt against crypto exchanges in different countries continues. This time the UK government shuts down Binance activities in their country. As per the UK authorities, Binance holds no authorization, registration or license to conduct activities in the UK.
As a result, most of the Binance activities in the UK are being banned. Indeed, this movement made by the UK authorities saddened the crypto community in the country.
The U.K. Financial Conduct Authority (FCA) explained:
“A significantly high number of crypto asset businesses are not meeting the required standards” under money-laundering regulations.”
However, despite the left and right crack down of Binance in countries around the world, Binance continues to provide service to all its users worldwide. Today, BNB trades at a decent price of $292 with a market cap of over $45 billion. As a result, the crypto maintains its record as one of the top 5 cryptos in CoinGecko.
In other news, countries are also tightening their security against crypto miners in their countries. For this reason, the Iranian police have seized 7000 mining computers in the western capital of the country. This movement has been made to prevent the power shortage in Iran in the peak summer months. Furthermore, the ban will last until September 22.
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