Binance was in a dispute with UK regulators, who claimed that the exchange could not be regulated because it failed to provide information about its activities. The FCA prohibited Binance in June 2021 from engaging in any regulated activity within the country.
US regulators have scrutinized the crypto exchange this year. In March, the Commodity Futures Trading Commission (CFTC) filed a suit against Binance. They claimed the crypto exchange had operated illegally and that it violated US law by soliciting too many customers from the US. Binance expressed surprise and disappointment at the CFTC’s complaint when it was issued.
Binance’s US arm recently decided to abandon the $1 billion dollar bid to acquire the assets of bankrupt crypto lender Voyager.
The article Binance seeks regulation in the UK first appeared on LeapRate.