Crypto firms drop British registration bids amid scrutiny

Crypto-related firms have since January had to register with the FCA, which oversees compliance with laws designed to prevent money laundering and terrorist financing, before doing business.

LONDON: A growing number of crypto asset firms are abandoning attempts to register with Britain's financial regulator as global scrutiny of the rapidly-growing sector intensifies.

The Financial Conduct Authority (FCA) banned Binance, one of the world's biggest crypto exchanges, on Friday from conducting any regulated activity in Britain as regulators across the world bolster oversight of the crypto sector.