FCA 'not capable' of effectively supervising crypto exchange Binance

Under fire for AML reporting breaches

Anna Fedorova
clock • 2 min read
Binance remains under fire from the FCA
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Binance remains under fire from the FCA

The Financial Conduct Authority (FCA) has issued a damning statement saying that it is “not capable” of effectively supervising the world’s largest cryptocurrency exchange Binance, while reiterating the risk its products could pose to consumers.

Binance has been under pressure from global regulators over recent weeks, with the FCA deciding to ban the centralised exchange from conducting all regulated activity in the UK back in June for fai...

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