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Binance, the world’s biggest crypto-currency exchange, has been banned by the UK’s financial regulator.<\/span><\/p>\n <\/p>\n The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any “regulated activity” in the UK.<\/span><\/p>\n <\/p>\n It also issued a consumer warning about Binance.com, advising people to be wary of adverts promising high returns on cryptoasset investments.<\/span><\/p>\n <\/p>\n This comes amid pushback from regulators around the world against crypto-currency platforms.<\/span><\/p>\n <\/p>\n Binance.com 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.<\/span><\/p>\n <\/p>\n 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.<\/span><\/p>\n <\/p>\n <\/p>\n Seated in a purple gaming chair, a matching mini microphone in her hand, the woman on the screen breaks down the day\u2019s financial news.<\/span><\/p>\n <\/p>\n \u201cHey, babes,\u201d she says breezily, \u201clet\u2019s talk about potential bear market scenarios.\u201d<\/span><\/p>\n <\/p>\n CryptoWendyO, as she\u2019s 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 \u2014 part commentator, part coach \u2014 a striking contrast to the boisterous crypto bros who dominate the space with their \u201cnever sell\u201d and \u201cto the moon\u201d evangelism.<\/span><\/p>\n <\/p>\n \u00a0Australia\u2019s chief financial watchdog may soon follow the suit and crack down on the cryptocurrency exchanges after the UK\u2019s Financial Conduct Authority (FCA) announced a ban on crypto exchange Binance from offering financial services in the country.<\/span><\/p>\n <\/p>\n 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.<\/span><\/p>\n <\/p>\n <\/p>\nA TikTok influencer brings cryptocurrency trading to the masses<\/b><\/h3>\n
Australia may follow suit to tame crypto trading<\/b><\/h3>\n
After their love affair with gold, Indians train their sights on crypto<\/b><\/h3>\n