Daily Crypto News

Daily crypto news June 28 2021

FCA bans world’s largest crypto-currency exchange


Binance, the world’s biggest crypto-currency exchange, has been banned by the UK’s financial regulator.


The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any “regulated activity” in the UK.


It also issued a consumer warning about, advising people to be wary of adverts promising high returns on cryptoasset investments.


This comes amid pushback from regulators around the world against crypto-currency platforms. is an online centralised exchange that offers users a range of financial products and services, including purchasing and trading a wide range of digital currencies, as well as digital wallets, futures, securities, savings accounts and even lending.


Binance Group is currently based in the Cayman Islands, while Binance Markets Limited is an affiliate firm based in London. The firm has multiple entities dotted around the world and Binance Group was previously based in Malta.


A TikTok influencer brings cryptocurrency trading to the masses


Seated in a purple gaming chair, a matching mini microphone in her hand, the woman on the screen breaks down the day’s financial news.


“Hey, babes,” she says breezily, “let’s talk about potential bear market scenarios.”


CryptoWendyO, as she’s known to hundreds of thousands of viewers on TikTok, YouTube and other platforms, proceeds with her latest dispatch on the ground-shifting world of digital currency. The vibe is relaxed and pragmatic — part commentator, part coach — a striking contrast to the boisterous crypto bros who dominate the space with their “never sell” and “to the moon” evangelism.


Australia may follow suit to tame crypto trading

 Australia’s chief financial watchdog may soon follow the suit and crack down on the cryptocurrency exchanges after the UK’s Financial Conduct Authority (FCA) announced a ban on crypto exchange Binance from offering financial services in the country.


Looking back, effective from 29 March 2021 the Australian Securities and Investments Commission (ASIC) limited maximum leverage and imposed restrictions on the margin trading in fiat currencies, indices and stocks via contracts for difference (CFD)/spread betting after the FCA did the same in the UK earlier.


After their love affair with gold, Indians train their sights on crypto


The cryptocurrency aficionados’ mantra that Bitcoin is equivalent to digital gold is winning converts among the world’s biggest holders of the precious metal.


In India, where households own more than 25,000 tonnes of gold, investments in crypto grew from about $200 million to nearly $40 billion in the past year, according to Chainalysis. That’s despite outright hostility toward the asset class from the central bank and a proposed trading ban.


Strategists flag near-term risks for Bitcoin price outlook


Strategists are struggling to see a turnaround ahead for Bitcoin, at least for now, as the digital coin looks to consolidate above the $30,000 level.


The near-term setup is “challenging,” a JPMorgan Chase & Co. team including Josh Younger and Veronica Mejia Bustamante wrote in a note Friday, while Fundstrat Global Advisors LLC’s David Grider recommended reducing risk or buying some protection.

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