Crypto Assets Face Scrutiny in U.K. and Japan

With cryptocurrencies, led by Bitcoin, still impacted by the crackdown by the Chinese government against mining and trading due to concerns over high energy consumption and financial risks, other crackdowns are leading to more concerns over crypto asset.

In the United Kingdom (U.K.), market regulators are putting increases scrutiny on crypto assets, following a decision by the Financial Conduct Authority (FCA) to ban Binance.

The British government has banned the crypto exchange from undertaking any regulated activity in the U.K.

Binance was expected to launch a new digital asset marketplace in Britain.

Moreover, Japan’s Financial Services Agency also said that Binance was operating in the country illegally.