According to a report by the news agency Reuters, the hugely popular cryptocurrency exchange in the UK was seized by the financial authorities of the UK, pushing up the price of bitcoin. The report said in a notice issued on Friday that the UK’s Financial Conduct Authority (FCA) had stated that Binance could not conduct any regulated activities in the UK and warned citizens of the country about the platform. Let us tell you that not only the United Kingdom, but many other countries, including the United States, keep an eye on how Benson works.
Bitcoin prices have fallen following recent concerns from the United States about the acquisition of Bitcoin, and now, the readiness to adopt United Bitcoin has also affected the price of Bitcoin. The report said that since the news broke, the price of Bitcoin has fallen 1.8 percent and the price of this popular currency has fallen 18 percent in the last 13 days. At the time of writing, the price of Bitcoin in India was around Rs 226 lakh.
The move by the FCA raises concerns about the way financial authorities around the world conduct business. This authority suspects that the exchange may be used for money laundering and some other illegal activities and may also pose a risk to customers.
A spokesman for the authority said Beyonc, one of the world’s largest crypto exchanges, withdrew an FCA registration application last month, citing anti-money laundering rules, the report said. He declined to comment on why the company did so.