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Explained: Why is Binance, the giant crypto exchange, under regulatory scrutiny? SECTIONS Last Updated: Jul 02, 2021, 10:16 AM IST Share Synopsis Britain s Financial Conduct Authority (FCA) said last week Binance s UK arm cannot conduct any regulated activity, without saying why it took the action. Crypto trading is generally unregulated in Britain, though some activities such as offering crypto derivatives do require permission. Reuters Binance has built up a huge following across the world, with channels on the Telegram social media app for users in more than 30 countries. Related LONDON: Britain s financial watchdog has barred major cryptocurrency exchange Binance from carrying out regulated activities, the latest in a string of moves against the platform by authorities across the world.

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