Crypto firms drop British registration bids amid scrutiny – Reuters

Crypto firms drop British registration bids amid scrutiny – Reuters

LONDON, June 28 (Reuters) - 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.

Data on registrations shows the number which have been ditched has jumped by a quarter in less than a month, an FCA spokesperson said on Monday, adding that Binance withdrew its application in mid-May, without giving further details.